Self Storage Startup 10 Federal Raises $10 Million from Investors

Posted: 12/5/2018 Link:
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10 Federal Self Storage has raised $10 million in equity from 179 investors, according to a Securities and Exchange Commission filing. 

10 Federal Self Storage operates self storage facilities with 24-hour access.

10 Federal acquired its eighth self storage facility on Nov. 2 at the Fort Mill Business Center in South Carolina and raised $1.35 million in private equity.

10 Federal is based in Raleigh. It buys and converts self storage properties to the company’s platforms to operate the facilities remotely.

10 Federal Self Storage has nine locations in North Carolina, including Chapel Hill, Durham and Hillsborough. It also has locations in Fort Mill and Camden, South Carolina.

10 Federal’s co-founder Brad Minsley focuses on the operations and technologies of the company’s multifamily and self-storage portfolios. Before founding the company, Minsley was a partner at Phillips Development.

Co-founder Clifton Minsley focuses on the company’s real estate development, investor relations and construction division activities. Prior to founding the company, Clifton worked for Phillips Development.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

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