10 Federal Storage LLC, which operates more than 130 self-storage facilities in 17 states, has purchased a seven-facility portfolio in Arkansas, making its third new-state entry inside a month. The company recently made its initial acquisitions in Iowa and Wisconsin as well, according to a press release.
Together, the facilities in Benton, Bryant, Jacksonville and North Litle Rock, Arkansas, total 487,652 net rentable square feet in 2,730 units. They’ll be integrated into 10 Federal’s centralized operating platform, which supports coast-to-coast operations and allows multiple properties to be onboarded simultaneously, the release stated.
“Expanding into three states in one month is only possible because of the platform we have built,” said company president Andrew Capranos. “Our automated operating model removes the friction that limits traditional operators, allowing us to integrate multi-property portfolios quickly, control expenses and optimize revenue from day one. That scalability is a core driver of our long-term growth strategy.”
Related:Self-Storage Industry Mourns Passing of Denee Burns, Chief of Staff for Bluebird/Sunbird Self Storage
Founded in 2010 and based in Raleigh, North Carolina, 10 Federal is a diversified real estate company that also operates multi-family properties. Its self-storage portfolio of owned and managed properties comprises more than 4 million net rentable square feet in Arkansas, Colorado, Florida, Georgia, Illinois, Iowa, Michigan, Missouri, New Hampshire, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, Washington and Wisconsin.
Source: PR Newswire, 10 Federal Acquires Seven-Facility Arkansas Portfolio, Expanding Leading Automated Self-Storage Platform
ISS Staff
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