SmartStop’s Blue Door Fully Subscribes $29.75M All-Cash Self-Storage DST Offering
Blue Door Asset Management I, LLC an affiliate of SmartStop Self Storage REIT Inc. (NYSE: SMA), announced that its Delaware statutory trust offering – Blue Door Property I, DST – is now fully subscribed.
The offering, which provided accredited investors with the opportunity to participate in institutional-quality self-storage assets through a 1031 exchange or direct cash investment, raised $29.75 million. Blue Door Property I, DST is part of SmartStop’s growing platform of tax-advantaged real estate programs designed to deliver income potential, portfolio diversification, and capital preservation.
“The full subscription of Blue Door Property I, DST underscores the growing demand for tax-deferred solutions among commercial exchange buyers and the appeal of institutional-quality self-storage investments for Main Street investors,” said H. Michael Schwartz, chairman and chief executive officer of SmartStop.
Over the summer, AltsWire reported 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.
“The long-term resiliency of the self-storage sector continues to make it a compelling destination for capital, and we remain committed to sourcing and managing high-quality assets that support stable income, preservation of capital, and consistent performance for our investors,” added Schwartz, regarding Blue Door Property I.
Blue Door Asset Management 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 I. 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 Nov. 24, 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.
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