Blue Door III Self-Storage Portfolio
Self-storage in Multi-state (3) — sponsored by Blue Door AM
Files with the SEC as Blue Door Property III, DST
Minimum investment
$25k
Offering size
$28.4M
How much has sold
None sold yet
Asset type
Self-storage
Location
Multi-state (3)
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Blue Door Property III, DST is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional interests in real estate — holding three SmartStop-branded self-storage facilities near Orlando, in Dallas and in Phoenix.1 Sponsor Blue Door AM I, LLC is an indirect subsidiary of Strategic Storage Growth Trust III and an affiliate of SmartStop Self Storage REIT (NYSE: SMA).2 The SEC record shows the Offering open.
Leveraged: ~$24.2M non-recourse debt, ~46% LTV; 506(c); SmartStop (NYSE:SMA) affiliate; launched 12/2/25
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The parent trust bought the three operating facilities on November 13, 2025 for $44,237,600.1 They are existing facilities — 460 Florida Central Parkway in Longwood, north of Orlando; 8110 S. Cockrell Hill Road in Dallas; and 4860 North 83rd Avenue in Phoenix — previously operated by unaffiliated US Storage Centers and rebranded to SmartStop after the sale.1 The sponsor's brochure reports portfolio-weighted occupancy of 90.1% as of September 30, 2025.3
- Reported location
- Multi-state (3)
- Property size
- 1,930 units / ~222k NRSF (Orlando 550u/65.7k SF; Dallas 670u/74.1k SF; Phoenix 710u/82.4k SF)
Who is the tenant, and what's the lease?
Storage customers rent under flexible month-to-month agreements, so no single occupant carries the rent.1 Each facility is instead net leased to an affiliated master tenant and managed by Blue Door Property Management, LLC, an indirect SmartStop subsidiary — landlord, master tenant and operator all sit inside the same corporate family.1
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
Leveraged means mortgage debt sits alongside investor equity rather than the Trust holding the buildings free and clear. The launch release describes roughly $24.2 million of non-recourse debt; non-recourse means a lender's remedy in a default runs to the properties, not to the people holding beneficial interests.2 No lender is named in the sources reviewed.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Blue Door AM I, LLC is an indirect subsidiary of Strategic Storage Growth Trust III and an affiliate of SmartStop Self Storage REIT (NYSE: SMA), which supplies the brand and operating platform.2 AltsWire's launch coverage noted that the platform's first Trust, Blue Door Property I, was fully subscribed at $29.75 million. On July 15, 2026 SSGT III and Strategic Storage Trust VI announced an all-stock merger, which SmartStop said on August 5, 2026 it anticipates closing in the fourth quarter of 2026.
- Sponsor
- Blue Door AM
- Legal Trust name
- Blue Door Property III, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 2 active / 3 total offerings from Blue Door AM
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
No amendment has followed the Trust's original Form D notice. Rule 506(c) lets the sponsor advertise the offering publicly, but each investor's accredited status — the SEC's income or net-worth tests — must be independently verified rather than self-certified. One broker-dealer's offering page labeled the Trust closed as of August 5, 2026, with no closing notice in the SEC record.1
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Blue Door III Self-Storage Portfolio still raising money?
Top1031 lists Blue Door III Self-Storage Portfolio as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Blue Door III Self-Storage Portfolio?
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.
What does Blue Door Property III, DST actually own?
Three operating self-storage facilities held indirectly: 460 Florida Central Parkway in Longwood, Florida, just north of Orlando; 8110 S. Cockrell Hill Road in Dallas; and 4860 North 83rd Avenue in Phoenix. Baker 1031 reports the parent trust acquired them on November 13, 2025 for $44,237,600. All three now operate under the SmartStop Self Storage brand, having previously been run by unaffiliated US Storage Centers. The sponsor's brochure reports portfolio-weighted occupancy of 90.1% as of September 30, 2025.
How can self-storage work as a DST when there is no long-term tenant?
Self-storage customers rent month to month, so the Trust does not depend on one occupant's credit. According to Baker 1031's offering page, each facility is net leased to an affiliated master tenant under a master lease and managed by Blue Door Property Management, LLC, an indirect SmartStop subsidiary. The master tenant collects from storage customers and pays rent to the property-owning trust. The exact master-tenant entities, lease term and rent waterfall are set out in the Private Placement Memorandum, the offering's controlling disclosure document.
Who sponsors this Trust, and who operates the buildings?
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). Day-to-day management sits with Blue Door Property Management, LLC, an indirect SmartStop subsidiary, and the facilities carry the SmartStop brand. SSGT III agreed in July 2026 to merge into Strategic Storage Trust VI, with SmartStop continuing as advisor and property manager.
How is the debt structured?
The Trust is leveraged: mortgage debt sits alongside investor equity. The launch release describes approximately $24.2 million of non-recourse financing, meaning a lender's claim in a default runs against the properties rather than the personal assets of investors holding beneficial interests. No lender is named in the sources reviewed, and loan terms, maturity, guaranty carve-outs and any lender consent requirements are described in the PPM.
Is the offering still open, and who can invest?
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 whose status is independently verified. That filing reports a $25,000 minimum investment. Availability is not settled in public sources: one broker-dealer's offering page labeled the Trust closed as of August 5, 2026, while no amendment or closing notice appears in the SEC record. A Form D is a point-in-time notice, so current status has to be confirmed with the sponsor or a broker-dealer carrying the offering.
Is a 721 or UPREIT exit contemplated?
The public record for this Trust shows no 721 or UPREIT feature — that is, no stated path to exchange beneficial interests for operating-partnership units in a REIT. The all-stock merger of Strategic Storage Growth Trust III into Strategic Storage Trust VI announced in July 2026 is a transaction in the sponsor's ownership chain, not an exit route for investors in this Trust. Any contemplated exit would have to be described in the PPM.
Chapter 9SmartStop's Blue Door AM I Debuts Three-Property $28.4M DST OfferingAltsWire coverage of Blue Door Property III, DST launch — leveraging ~$24.2M non-recourse debt across Orlando FL, Dallas TX and Phoenix AZ; references that Blue Door Property I, DST had been fully subscribed (raised $29.75M) and references Blue Door II launch earlier in 2025. SmartStop unit launches $28.4M leveraged self-storage DSTStock-titan coverage of Blue Door Property III, DST — leveraged 506(c) offering targeting $28.4M equity with ~$24.2M non-recourse debt (~46% LTV) across three Sunbelt self-storage sites in Orlando FL, Dallas TX and Phoenix AZ. Blue Door AM I Announces Launch of Leveraged $28.4 Million DST OfferingBlue Door Property III, DST launched by Blue Door AM I, LLC (SSGT III sub / SmartStop affiliate) as a leveraged 1031-eligible DST targeting $28.4M equity plus ~$24.2M non-recourse debt (~46% LTV) across three properties: Orlando FL (550 units), Dallas TX (670 units), Phoenix AZ (710 units).