10 Federal Raises Over $28 Million in New Offering, Reports Strong Q2 2025 Results Across Platform

RALEIGH, N.C., Aug. 7, 2025 /PRNewswire/ -- 10 Federal, a technology-driven owner and operator of self-storage properties, announced strong Q2 2025 results, with significant gains across its value-add funds, a major institutional refinance, and the successful first closing of its fifth investment vehicle. The company continues to expand its operational footprint, now managing over 100 self-storage properties across 13 states.

Q2 2025 Performance Highlights

10 Federal's vertically integrated platform and proprietary technology continued to drive meaningful operational improvements and investor results:

• 10FSSAC3 achieved a 7% year-over-year increase in revenue and an 11% reduction in operating expenses, leading to a 31% increase in net operating income. These gains reflect enhanced cost controls and growing operational maturity.
• 10FSSAC4 posted same-store NOI growth of over 30%, driven by improved occupancy, strategic rate increases, and multiple properties transitioning out of lease-up. The fund also completed a new acquisition in Georgia, and all equity capital is now fully deployed or committed.

"We're seeing the strength of our platform reflected in our operating results," said Andrew Capranos, President of 10 Federal. "These outcomes don't happen by accident. They're the result of our team executing consistently across technology, operations, and investment. I'm proud of the discipline and drive we're seeing across the company."

Capital Markets and New Offering Launch

In July, 10 Federal launched its newest value-add self-storage investment offering and secured over $28 million in initial equity commitments from a mix of existing and new investors. The offering aims to raise $150 million in total capital and will focus on acquiring and optimizing self-storage properties across the Southeast and Sun Belt.

"This fundraise is a testament to the confidence our investors have in the model we've built," said Cl if f Minsley, Co-Founder of 10 Federal. "We've created a platform that scales with consistency, and our ability to attract new capital while delivering strong returns speaks volumes about the team's execution."

During the quarter, 10 Federal also completed a $33.5 million portfolio refinance with Affinius Capital (formerly USAA LifeCo). The transaction was secured at favorable terms and further expands the company's institutional lending relationships.

"The Affinius refinance not only locked in favorable terms— It also marked a new partnership with an institutional life insurance company, an important step as we continue to broaden our capital base," said Ian Levin, Vice President of Investments. "It reflects the strength and credibility of the 10 Federal platform in the eyes of institutional partners and paves the way for more such partnerships in the future."

Development and Construction Momentum

10 Federal continues to grow its development pipeline, with 15 active self-storage projects in development, under construction, or in planning—totaling over 1 million square feet.

• The company is on track to receive a certificate of occupancy for Georgetown, TX in Q3 2025.
• Construction advanced at sites in Dripping Springs, TX; Richmond Hill, GA; Temple, GA; and Villa Rica, GA, with expansions delivered in Magnolia, Temple, and Montgomery, TX.
• Groundbreaking is expected soon for a new facility in Lake Worth, TX.

"These development milestones are fueling future NOI growth and positioning us to capitalize on market demand in our target regions," added Capranos. "We're leaning into the opportunity with speed and precision."

Media Contact: Ian Levin, VP of Investments, [email protected] 

About 10 Federal
10 Federal is one of the largest owners and operators of fully automated self-storage facilities in the United States. The company currently manages over 100 properties across 13 states, powered by an in-house platform that integrates proprietary AI technology to reduce costs, enable 24/7 customer self-service, and enhance operating margins. Recognized by Inc. 5000 and Inside Self-Storage (ISS) as a top operator, 10 Federal has also been named a Top Performing Real Estate Fund by Preqin and a Top Fundraiser by Juniper Square. To learn more about our investment offerings or third-party management services, visit 10Fed.com.

SOURCE 10 Federal