SmartStop’s Blue Door AM I Debuts Three-Property $28.4M DST Offering

Blue Door Asset Management I, LLC an affiliate of SmartStop Self Storage REIT Inc. (NYSE: SMA), has launched Blue Door Property III, DST, a leveraged and diversified Delaware statutory trust investment program.

The program seeks to raise approximately $28.4 million in equity and is currently financed with approximately $24.2 million of non-recourse debt, representing an estimated 46% loan-to-value ratio. This offering is designed to provide investors access to a historically resilient real estate asset class and the ability to defer taxes while reinvesting in professionally managed self-storage properties.

Blue Door III is part of SmartStop’s growing platform of tax-advantaged real estate programs designed to deliver income potential, portfolio diversification, and capital preservation. It offers accredited investors the opportunity to participate in the self-storage sector through a portfolio of three institutional-quality properties located in Orlando, Fla., Dallas, and Phoenix.

“Orlando, Dallas and Phoenix are markets defined by strong economic and demographic fundamentals, making them compelling locations for a diversified self-storage portfolio,” said H. Michael Schwartz, chairman and chief executive officer of SmartStop.

The Orlando property consists of approximately 550 units and 65,700 net rentable square feet, the Dallas location features approximately 670 units and 74,100 net rentable square feet, and the Phoenix property includes approximately 710 units and 82,400 net rentable square feet.

“With Blue Door III, investors have the opportunity to participate in an offering with professionally managed properties in a historically resilient asset class that have the potential for long-term value, all within a completely hands-off investment structure,” said Schwartz.

Last month, Blue Door AM I announced that Blue Door Property I, DST had been fully subscribed after raising $29.75 million. Earlier this year, AltsWire reported on Blue Door AM I’s launch of Blue Door Property II, DST, which seeks to raise $64.8 million. That portfolio is comprised of three debt-free institutional-quality properties located in Orlando, Fla., and the cities of Pasadena and Corinth in Texas.

Blue Door AM I, an indirect subsidiary of Strategic Storage Growth Trust III Inc., or SSGT III, serves as the sponsor of three DSTs, including Blue Door Property III. Together, the DSTs own eight operating properties in the United States comprising approximately 5,420 units and nearly 700,000 net rentable square feet. SSGT III’s primary investment strategy is to invest in growth-oriented self-storage facilities and related self-storage real estate investments in the United States and Canada.

SmartStop Self Storage REIT is a self-managed real estate investment trust with a fully integrated operations team of more than 1,000 self-storage professionals focused on growing the SmartStop Self Storage brand. It debuted on the New York Stock Exchange earlier this year.

SmartStop, through its indirect subsidiary SmartStop REIT Advisors LLC, also sponsors other self-storage programs. As of Dec. 2, 2025, SmartStop had an owned/managed portfolio of 460 operating properties in 34 states, the District of Columbia, and Canada, comprising approximately 270,000 units and more than 35 million rentable square feet. SmartStop and its affiliates own or manage 49 operating self-storage properties in Canada, which total approximately 42,200 units and 4.3 million rentable square feet.

For more SmartStop news, please visit their directory page.