Self-storage operator 10 Federal has acquired the ASAP Storage portfolio, which includes three properties located in Temple and Villa Rica, GA totaling 96,000 net rentable square feet. The acquisition marks the sixth asset purchased by the 10FSSAC4 fund.
The blended acquisition price square foot basis was $78/sqft compared to $134/sqft at which a recent portfolio of properties sold in Atlanta MSA in 2022.
To support its continued growth and expansion strategy, 10 Federal has added three key executives to its leadership team: Brian Oakley as Vice President of Technology with over 15 years of experience; Trent Erickson as Vice President of Accounting with more than 20 years expertise; and Kris Gunther as Vice President of Human Resources who brings extensive HR knowledge.
With this latest move into Georgia’s self-storage market combined with new executive appointments, 10 Federal is well positioned for further success within its industry sector going forward.
