10 Federal, a trailblazer in the self-storage industry, announced that it has raised $25 million in the first closing of its Opportunistic Offering in Q3 2024. The round, led by Essentia Capital Partners, will fund the development of high-end, Class-A properties in Dripping Springs, TX, and Charlotte, NC.
This new funding enables 10 Federal to pursue ground-up development projects in high-growth markets, bolstering its presence in the industry. “The confidence from our investors highlights our data-driven approach in selecting prime markets,” said Brad Minsley, Co-Founder of 10 Federal.
Additionally, the company introduced an innovative curbside rental feature, allowing customers to rent storage units directly from their vehicles via QR codes, enhancing convenience.
The company also acquired four new properties in Carrollton, GA, expanding its portfolio and optimizing operational efficiencies. President Andrew Capranos emphasized that these strategic moves position 10 Federal to continue leading the industry while delivering value to investors and customers alike.
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