
Self-Storage Innovator 10 Federal Raises $32mm, Adds Sixth Asset to Fund Portfolio and Three Executive Leaders
Self-storage operator 10 Federal has acquired the ASAP Storage portfolio, which includes three properties located in Temple and Villa Rica, GA totaling 96,000 net rentable square feet. The acquisition marks the sixth asset purchased by the 10FSSAC4 fund.
The blended acquisition price square foot basis was $78/sqft, compared to the $134/sqft at which a recent portfolio of properties 10 Federal sold in the Atlanta MSA in 2022.
To support its continued growth, 10 Federal has added three key executives to its leadership team.
Brian Oakley is Vice President of Technology, bringing more than 15 years of experience in technology strategy, development, and operations. Trent Erickson is Vice President of Accounting, with more than 20 years of experience in public accounting, financial reporting, and business operations. Kris Gunther is Vice President of Human Resources, a seasoned HR executive with experience in talent management and organizational development.