Blue Door Property I
Self-storage property in Orlando, FL · sponsored by Blue Door AM
Blue Door Property I was a DST sponsored by Blue Door AM that owned a self-storage property in Orlando, FL. Its last Form D was filed Sep 27, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Sep 27, 2024.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $29,750,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Sep 27, 2024)Form D, Sep 27, 2024
- Selling commissions
- Form D Item 15; the % is our arithmetic$2,677,500 · 9.0% of offering
- Financing
- All cash. This offering reports no mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: Blue Door Property I. Top1031 is not a broker-dealer.Blue Door Property I · Photo: nasdaq.com
What did Blue Door Property I own?
The Trust holds three self-storage facilities: one in Orlando, Florida, and two in Texas, at Pasadena and Corinth. The public record is thin on the buildings themselves — neither the Form D nor the sponsor's public announcements disclose street addresses, construction dates, acquisition dates, or purchase prices.
- Reported location
- Orlando, FL
- Property size
- Three-property portfolio; ~2,290 units / ~301,000 net rentable sq ft (Orlando ~680 units / 97,300 sq ft; Pasadena ~840 / 106,600; Corinth ~770 / 97,100)
How was it financed, and what did it cost to sell?
An unleveraged Trust means no lender, no loan maturity, and no refinancing event to plan around. It also means an exchanger who carried a mortgage on the relinquished property gets no replacement debt here — a point to work through with a tax adviser before identifying.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $2,677,500 · 9.0% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $787,500 · 2.6% of offeringForm D Item 16· The filing’s note: “Estimate of certain fees and expenses including Offering & Organizational Expenses and Acquisition Fee, which may accrue to one or more related persons.”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Pacific Oak Capital Markets, LLC · CRD 309350
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Not in the Form D
- Minimum investment
- $25,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Blue Door Property I?
Blue Door AM I, LLC sponsors the Trust. It is an indirect subsidiary of Strategic Storage Growth Trust III, Inc. and an affiliate of SmartStop Self Storage REIT, Inc. 1 Blue Door Property I was the platform's earlier DST, described as such when a follow-on program, Blue Door Property II, launched on July 15, 2025; a third program, Blue Door Property III, was covered by trade press on December 16, 2025.
- Sponsor
- Offerings on record
- 2 active / 3 total
What does the SEC record show?
The original Form D was never amended, so the SEC record still shows the offering as it stood at first filing rather than the completed raise the sponsor announced on November 24, 2025. 3 The Trust was offered privately to accredited investors — those meeting SEC income or net-worth tests — without public advertising.
- Legal Trust name
- Blue Door Property I, DST
- SEC CIK
- 2037866
- First Form D
- Sep 27, 2024
- Latest Form D
- Sep 27, 2024
- Filings on record
- 1
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $29,750,000 | $0 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
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.
Common questions
- What happened to Blue Door Property I?
- Blue Door Property I is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Sep 27, 2024.
- Why doesn't the SEC record match the sponsor's announcement?
- Form D reports an offering as of the date it is filed. Because Rule 506(b) offerings are not required to keep amending, the EDGAR record never captured the raise the sponsor said was completed on November 24, 2025.
- What does an all-cash DST mean in practice?
- The sponsor reports no mortgage on the portfolio. There is no lender, no loan covenants, and no maturity date that forces a refinancing or sale. The trade-off for a 1031 exchanger is that a debt-free Trust provides no replacement debt, so an investor who had a mortgage on the property they sold may face boot on that portion. That is a tax-adviser question.
- Who operates the three storage facilities?
- No operator, manager, or master tenant is identified in the Form D or in the sponsor's public announcements reviewed for this record. The sponsor's affiliation with SmartStop Self Storage REIT does not by itself establish who manages these three properties. The offering documents would name the manager and set out its fees.
- Is there a 721/UPREIT exit?
- The record shows no disclosed option to exchange Trust interests into REIT operating-partnership units — a 721/UPREIT roll-up, which converts real property into REIT units and ends 1031 eligibility going forward. Because the sponsor is affiliated with a self-storage REIT, an investor would want the offering documents to confirm whether any such option exists.
- Why does a law firm have a page about this DST?
- The White Law Group, a securities-law firm, published an investor lawsuit-investigation page about Blue Door Property I, DST dated June 23, 2025. Pages of that kind are law-firm solicitations and are not findings of wrongdoing; the research behind this record did not locate an underlying court or regulatory action against the Trust or its sponsor.
In the news
Sources
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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 offering documents before investing.