10 Federal Closes on 2nd Acquisition, Completes Renovation on 1st Acquisition
RALEIGH, N.C., Sept. 12, 2017 /PRNewswire/ -- 10 Federal is pleased to announce the acquisition of the Green Cube Self-Storage facility located in the Chapel Hill, NC submarket. The closing occurred on September 7, 2017 and marks the second acquisition of 10 Federal's Self-Storage Acquisition Fund.
10 Federal will implement its suite of technologies to convert the facility to unmanned operations and will make various improvements to the facility including painting the storage unit doors and paving the drive aisles.
10 Federal has also completed the renovations of the South Point self-storage facility located in Belmont, NC. The property was acquired on May 17, 2017 and at the time of acquisition it was 80% occupied. As of September 12, 2017, the property is 96% occupied. Before and after pictures from the recent renovations are displayed below.
10 Federal has executed a purchase agreement for the 3rd self-storage acquisition and a Letter of Intent for the 4th self-storage acquisition.
The goal of the fund is to acquire, rehab and renovate self-storage properties within the southeast and implement best practices including 10 Federal's suite of technologies that allow the properties to operate efficiently in an unmanned status.
For more information on the Fund, please visit https://invest.10federal.com/properties/
SOURCE 10 Federal
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