Blue Door III Self-Storage Portfolio

Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.

Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Three operating self-storage facilities, held indirectly: 460 Florida Central Parkway in Longwood, Florida, just north of Orlando; 8110 South Cockrell Hill Road in Dallas; and 4860 North 83rd Avenue in Phoenix. A sponsor offering summary reports the parent trust acquired them on November 13, 2025 for an aggregate purchase price of $44,237,600, against an as-is appraised value of $45,300,000. The sponsor's brochure reports occupancy as of September 30, 2025 of 90.4% at Longwood, 88.3% at Dallas, 91.5% at Phoenix and 90.1% portfolio-wide. All three operate under the SmartStop Self Storage brand.

Self-storage revenue comes from many individual customers rather than one corporate occupant, so the Trust does not depend on a single tenant's credit — but there is also no long-dated lease locking in rent. Sponsor materials describe each property as net leased to an affiliated Master Tenant, whose revenue depends on customers renting month to month, with a SmartStop subsidiary running operations. The specific master lease terms, including rent structure and any sponsor guaranty, are set out in the Private Placement Memorandum, the offering's controlling disclosure document.

The sponsor is Blue Door AM I, LLC, described in the December 2, 2025 launch release as an indirect subsidiary of Strategic Storage Growth Trust III and an affiliate of SmartStop Self Storage REIT (NYSE: SMA). A SmartStop subsidiary, Blue Door Property Management, LLC, manages the three facilities under the SmartStop brand. On July 14, 2026, SSGT III and Strategic Storage Trust VI announced an all-stock merger; SmartStop said on August 5, 2026 that the transaction is expected to close in the fourth quarter of 2026 and that it would continue as advisor and property manager.

The SEC record shows a single Form D filed November 26, 2025 with no amendment since, and a Form D is a point-in-time notice rather than a live tally. Separately, an offering summary maintained by Baker 1031 Investments and last updated August 5, 2026 listed the program as closed to new investors, drawing its figures from the PPM and sponsor materials rather than from an SEC filing. Current availability has to be confirmed with the sponsor or a broker-dealer carrying the offering.

The Trust is leveraged, meaning mortgage debt sits alongside investor equity. The December 2, 2025 launch release describes approximately $24.2 million of non-recourse financing on the portfolio; non-recourse means a lender's claim on default runs against the properties, not against the personal assets of investors holding beneficial interests. A Baker 1031 Investments offering summary reports the loan as fixed-rate at 5.0% per annum, interest-only over a seven-year term maturing November 13, 2032. No lender is identified in the public sources reviewed, and guaranty carve-outs and lender consent requirements are described in the PPM.

The Form D filed November 26, 2025 is a Rule 506(c) notice, so the offering may be advertised publicly but is limited to accredited investors — those meeting the SEC's income or net-worth tests — whose status must be independently verified rather than self-certified. That filing reports a $25,000 minimum investment. Beneficial interests in a DST can serve as replacement property in a 1031 exchange, subject to the exchange timing rules and the terms of the PPM.