10 Federal Breaks Escrow On Self-Storage Fund, Contracts For 2nd Acquisition
Diversified Raleigh real estate company 10 Federal broke escrow in July 2017 on a project to rehab and automate operations for its recently acquired South Point Rd self storage property, as well as the next fund acquisitions.
10 Federal announced today that the 10 Federal Self Storage Acquisition Fund 1 broke escrow on July 1, 2017. Through investors originated via CrowdStreet’s marketplace and an investment from 10 Federal’s principals, the fund has raised $1,258,000 dollars since commencing fund raising efforts on May 22, 2017.
10 Federal also announced that its second fund acquisition is currently under-contract. The facility is located in the Raleigh-Durham-Chapel Hill MSA and shows strong average monthly rental rates with the potential for upside through implementation of best practices and 10 Federal’s suite of technologies to automate operations at the facility.
Article courtesy of the PR Newswire. Click here to read it, or view it in PDF format.