10 Federal, which operates 11 self-storage facilities in North Carolina, has acquired Fort Mill Business Center and Self Storage in Fort Mill, S.C. The property at 1691-A Katy Lane is the eighth purchase made by 10 Federal Self Storage Acquisition Co. 1 LLC (10FSSAC1), which the company launched last year. 10 Federal will deploy its suite of technologies at the site to support unmanned operation, including a call center, kiosk-rental center, model unit and overlock system, according to a press release.
The company admitted an additional $1.35 million of equity into 10FSSAC1 on Oct. 1, bringing the total raised to $8.395 million. In addition, 10 Federal announced that an 8 percent annualized distribution was given to its investors for the third quarter of 2018.
Founded in 2010 and based in Raleigh, N.C., 10 Federal is a diversified real estate company that also operates multi-family properties. Integrating technology into its operation is a core tenet of the business, according to the company website.
Source:
PR Newswire, 10 Federal Acquires Self-Storage Facility, Raises an Additional $1,350,000 of Equity
