10 Federal is pleased to announce the acquisition of the Ft Mill Biz Center self storage facility located at 1691-A Katy Lane, Fort Mill, SC. The property was acquired on October 10, 2018. This acquisition marks the 8th self storage facility acquired by the 10 Federal Self Storage Acquisition Company 1, LLC ("10FSSAC1") offering.
10 Federal will deploy its suite of technologies to support unmanned operations which includes the installation of a kiosk rental center, model unit, proprietary overlock system and extending 10 Federal's call center services to this facility.
On October 1, 2018, the company admitted an additional $1,350,000 of equity into 10FSSAC1 bringing the total equity raised to date to $8,395,000.
Additionally, 10 Federal is pleased to announce an 8.00% annualized distribution to its 10FSSAC1 investors for the 3rd quarter of 2018.
The goal of 10FSSAC1 is to acquire, renovate and convert self storage properties to 10 Federal's unmanned, automated platform. Once converted, 10 Federal can efficiently and effectively operate the facilities using technology and remote support.