RALEIGH,
N.C., Sept. 12, 2024 /PRNewswire/ -- 10
Federal, a leading innovator in the self-storage industry, is proud
to announce key milestones that highlight the company's continued
growth and leadership in the sector.
In the first closing of its Opportunistic Offering, 10 Federal
raised $25 million in equity, equity
commitments, and mezz equity during the third quarter of 2024.
The funding was led by Essentia Capital Partners, an investment
advisory firm serving HNWIs and RIAs. This offering focuses on
ground-up development deals, primarily targeting multi-story,
Class-A properties. The funds from this first closing will be
allocated to two prime seeded assets: one in the rapidly growing
Dripping Springs, TX, and the
other in the dynamic market of Charlotte,
NC.
"We are thrilled to have raised $25
million in the first closing of our opportunistic offering.
This achievement reflects the strong confidence our investors have
in both our track record and our data-driven approach to
identifying markets and opportunities where we can maximize
returns. By leveraging data science, we continue to make informed,
strategic decisions that position us for long-term growth," said
Brad Minsley, Co-Founder of 10
Federal.
"We're proud to partner with an innovator like 10 Federal to
offer our investors access to compelling investment opportunities,"
said David Scacco, Essentia
cofounder & managing partner.
To enhance customer convenience, 10 Federal has rolled out an
innovative curbside rental option across its portfolio, enabling
customers to rent storage units directly from their vehicles by
scanning a QR code at designated parking spots. This
initiative has seen strong adoption and positive feedback from
customers who appreciate the added convenience and efficiency. The
rollout not only addresses the evolving preferences of today's
consumers but also sets a new standard for service in the
self-storage industry.
In August, 10 Federal acquired four properties in Carrollton, GA, for its fourth value-add
offering. These acquisitions are in an existing 10 Federal market
where the company has already achieved strong success, allowing it
to capitalize on established operational efficiencies and economies
of scale. Located just west of Atlanta, the Carrollton submarket remains a strategic
focus, further solidifying 10 Federal's presence in the region.
"Our recent milestones reflect our strategic vision and the
exceptional capabilities of our team," said Andrew Capranos, President of 10 Federal. "By
implementing innovative solutions like curbside rentals and making
strategic acquisitions, we are positioning 10 Federal to lead the
industry while delivering value to both our customers and
investors."
About 10 Federal:
10 Federal stands as a leading
innovator in the self-storage industry. As one of the largest
owners and operators of fully automated facilities in the country,
10 Federal harnesses advanced technology and data analytics to
deliver superior risk-adjusted returns.
For media inquiries, please contact:
Investors@10federal.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/10-federal-raises-25m-in-first-closing-for-opportunistic-offering-expands-curbside-rentals-and-strategic-acquisitions-302244217.html
SOURCE 10 Federal