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10 Federal Self Storage Acquisition Company 1, LLC, has sold the remaining eight self-storage properties in its portfolio to Frigatebird Investments

10 Federal Keeps Busy with Self-Storage Asset Sales, Fund Expansion

Raleigh, NC-based 10 Federal’s 10 Federal Self Storage Acquisition Company 1, LLC, has sold the remaining eight self-storage properties in its portfolio to Frigatebird Investments, representing a total liquidation. 

In addition, 10 Federal Self Storage Acquisition Company 2, LLC, has sold four GA locations to Frigatebird and the 10 Federal Self Storage Acquisition Company 3, LLC, has sold one SC property.

Finally, 10 Federal has expanded its most recent offering, 10 Federal Self Storage Acquisition Company 3, LLC, from $30 million to $45 million in equity capacity and is now fully subscribed on all $45 million of equity allocation. 

10 Federal’s first self-storage fund launched in July of 2017 with the business plan of operating self-storage properties without onsite management personnel by utilizing technology in lieu of labor. The goal of 10FSSAC1, 10FSSAC2 and 10FSSAC3 is to acquire, renovate and convert self-storage properties to 10 Federal’s unmanned, automated platform.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition