SmartStop: Blue Door Property III DST
Available
Overview
Blue Door Property III, DST owns three self-storage properties totaling 2,281 units, 98 vehicle storage spaces, and more than 300,000 net rentable square feet located in Phoenix, Arizona, Dallas, Texas, and Orlando, Florida MSA.
Key Investment Features
Structure
Delaware Statutory Trust (DST)
Investment Sponsor
SmartStop
Property Type(s)
Self-Storage
Location(s)
TX, FL, AZ
Occupancy
90.1%
721 Exchange / UPREIT
Required
Minimum Investment
$100,000
Investment Strategy
Buy & Hold
Year 1 Yield
4.00%
In-Place Loan
45.96% LTV
Avg. Remaining Lease Term
N/A
Cash Flow Forecast
Year 1
Year 2
Year 3
Year 4
4.00%
4.25%
4.27%
4.28%
Year 5
Year 6
Year 7
Year 8
4.31%
4.32%
4.52%
Sold
Year 9
Year 10
Sold
Sold
Investment Highlights
Three property portfolio - spanning 3 growing metropolitan areas.
Sponsor is a publicly traded REIT with a strong track record. Sponsor is the 10th largest storage company in the USA.
Advantages
The properties generate a tremendous amount of depreciation. Please see PPM for a full breakdown of depreciation benefits.
Weaknesses
Occupancy fluctuations can cause substantial volatility.
Low barriers to entry in the markets represented by this portfolio.