10 Federal reported a significant accomplishment in its latest capital-raising endeavor. Despite the economic challenges of 2023, the company managed to rise above and beyond its $100 million fundraising goal in its fourth self-storage offering. This achievement reflects the confidence and high demand from investors and solidifies 10 Federal’s standing in the self-storage sector.
Despite last year’s economic headwinds, the company showcased remarkable resilience, demonstrating a staggering 16% revenue increase for its owned assets. This success underlines 10 Federal’s prowess in navigating testing financial circumstances.
Gratitude for this accomplishment was voiced by 10 Federal’s Co-Founder, Cliff Minsley. He recognized this success as a testament to their investors’ trust and belief in their operational excellence and company vision. Minsley also mentioned the company’s recognition as one of Juniper Square’s top fundraisers in 2023 as a proud moment for the whole team.
The company started the year 2024 on a positive note by raising an extra $11 million in capital in the first quarter alone. Andrew Capranos, the President of 10 Federal Storage, highlighted the company’s progress by mentioning its reliance on advanced technology, a committed team, and an expanding list of partnerships.
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News from the community.
Leadership Enhancements in Self-Storage
- FreeUp Storage Leadership Team Expansion: FreeUp Storage, under Spartan Investment Group, welcomed Melissa Robbins as VP of Marketing and Derrick Harris as VP of Operations. Their expertise is expected to drive technology-focused customer acquisition and operational improvements.
- Source URL: SpareFoot Storage Beat
Expansion and Development in Self-Storage
- Madison Capital and IREGC Leadership Appointments: Shimon Kanter joins Madison Capital as VP for Go Store It! Self Storage, focusing on Northeast expansion. IREGC hired Josh Grove as Senior Staff Accountant, aiming to enhance financial operations.
- Source URLs: Madison Capital, IREGC
- New Developments in Self-Storage Industry: Including Storage Caves’ luxury garage in Georgia and Futura’s Nona Cove Self Storage in Orlando, showcasing growth and innovation in the sector.
- Source URLs: Storage Caves, Futura
Industry Innovations and Partnerships
- Inside Self-Storage World Expo Insights: The event highlighted industry trends and innovations, with a focus on education and empowerment for self-storage professionals.
- Source URL: AccessWire
- Storage Boom’s New Management Software: Storage Boom released a comprehensive management software, enhancing operational efficiency in the self-storage industry.
- Source URL: Digital Journal
- OpenTech Alliance and Extra Space Storage Extend Partnership: OpenTech’s Auction Review Services expanded to Extra Space Storage, highlighting the growing portfolio and compliance efficiency.
- Source URL: Modern Storage Media
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