Minimum investment
$25k
Offering size
$64.8M
How much has sold
None sold yet
Asset type
Self-storage
Location
Multi-state (2)
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Blue Door Property II, DST is a Delaware Statutory Trust — a structure that lets 1031 exchange investors hold fractional interests in real estate — owning three SmartStop-branded self-storage facilities in Orlando, Florida and in Corinth and Pasadena, Texas, all held without mortgage debt. Sponsor Blue Door AM I, LLC, an affiliate of SmartStop Self Storage REIT (NYSE: SMA), announced the offering on July 15, 2025.2
Three SmartStop-branded self-storage facilities: Orlando Property, Corinth Property, and Pasadena Property · All-cash/debt-free (0% LTV); 506(c); sponsor = SSGT III sub, SmartStop (NYSE:SMA) affiliate; launched 7/15/25
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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?
Sponsor materials report that three operating trusts held inside the DST acquired the facilities on February 20, 2025 for an aggregate purchase price of $54,100,000, all cash.1 The three sites sit on roughly 20.6 acres in total, operate under the SmartStop brand, and are run day to day by a SmartStop-affiliated property manager.1 The same offering page reports physical occupancy of about 91.2% in Orlando, 88.38% in Corinth and 91.32% in Pasadena.1
- Property address
- 6707 Narcoossee Road, Orlando, Florida; 3701 FM Road 2181, Corinth, Texas; 7905 Spencer Highway, Pasadena, Texas, Orlando; Corinth; Pasadena, Florida; Texas
- Property size
- Approximately 2,281 storage units and 98 vehicle storage spaces across roughly 300,968 rentable square feet
Who is the tenant, and what's the lease?
There is no single credit tenant here. Sponsor materials describe all three properties as leased to an affiliated master tenant under a 10-year master lease with base, additional and bonus rent components — so the entity that owes the Trust rent is a sponsor affiliate, and individual storage customers pay that master tenant.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?
The portfolio was bought outright with equity, so there is no lender, no loan balance, no maturity date and no scheduled debt service at the trust level.1 For an exchanger who carried a mortgage on the relinquished property, this Trust supplies no replacement debt.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
Blue Door AM I, LLC is the sponsor — an indirect subsidiary of the non-traded REIT Strategic Storage Growth Trust III and an affiliate of SmartStop Self Storage REIT (NYSE: SMA).2 SmartStop's first-quarter 2026 results, released May 6, 2026, described an owned and managed portfolio of roughly 460 self-storage properties. Trade press reported on July 14, 2026 that Strategic Storage Trust VI and SSGT III plan an all-stock merger — a transaction in the ownership chain above this Trust.
- Sponsor
- Blue Door AM
- Legal Trust name
- Blue Door Property II, 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?
One Form D and no amendment since, so the public filing record still reflects the offering roughly as it stood at the July 15, 2025 launch announcement.2 Rule 506(c) permits public advertising, but each subscriber's accredited-investor status must be independently verified rather than self-certified. A sponsor-side offering page listed the program as closed as of August 5, 2026.3
- 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 Property II, DST still raising money?
Top1031 lists Blue Door Property II, DST 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 Property II, DST?
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.
Who actually pays rent to the Trust?
Sponsor materials describe a master lease structure: all three properties are leased to an affiliated master tenant under a single 10-year master lease with base, additional and bonus rent components.[1] That master tenant, not the Trust, stands between the Trust and individual storage customers. Because the tenant is a sponsor affiliate rather than an unrelated credit tenant, read its obligations, rent components and any deferral or termination rights in the Private Placement Memorandum (PPM), the document that governs the offering.[1]
What does it mean that this Trust is debt-free?
Sponsor materials report the properties were acquired on an all-cash basis with no mortgage financing.[1] There is no loan maturity and no lender consent required for a future sale. The trade-off for a 1031 exchanger is that a debt-free Trust supplies no replacement debt for a relinquished property that carried a mortgage; confirm your own exchange math with your tax adviser.
How is this connected to SmartStop?
Sponsor Blue Door AM I, LLC is an indirect subsidiary of Strategic Storage Growth Trust III, Inc. and an affiliate of SmartStop Self Storage REIT, Inc. (NYSE: SMA).[2] The three facilities operate under the SmartStop brand and are managed by a SmartStop-affiliated property manager.[1] Trade press reported on July 14, 2026 that Strategic Storage Trust VI and Strategic Storage Growth Trust III would combine in an all-stock merger — a transaction in the ownership chain above this Trust, not a stated transfer of its properties.
Is the Trust still open to new investors?
The public filing record has not been amended since the Form D filed August 4, 2025, while a sponsor-side offering page listed the program as closed as of August 5, 2026.[3] Those two records have not been reconciled publicly, and subscription progress routinely moves well ahead of any SEC amendment. Confirm current availability directly with the sponsor or your representative.
What is the minimum investment?
The Form D filed August 4, 2025 lists a $25,000 minimum outside investment. Sponsors and selling broker-dealers often apply higher practical minimums for 1031 exchange subscriptions, so confirm the current figure in the PPM before committing exchange proceeds.
Does this Trust convert into a REIT at the end?
Our filing-derived record does not flag a 721/UPREIT exit — the structure in which a DST's property is contributed to a REIT's operating partnership in exchange for units. Public research on this Trust did not establish any Section 721 exit language either way. The trust agreement and PPM set out how and when the properties may be sold or contributed, and whether any sponsor affiliate holds a purchase option; read those sections before subscribing.
Chapter 9SmartStop Affiliate Launches $64.8 Million Self-Storage DST OfferingAltsWire coverage of Blue Door Property II, DST launch — a $64.8M, debt-free, 506(c) Delaware Statutory Trust opportunity for accredited 1031-exchange investors sponsored by Blue Door AM I, a SmartStop affiliate. Blue Door AM I Announces Launch of $64.8 Million DST OfferingBlue Door Property II, DST launched by Blue Door AM I, LLC (SSGT III sub / SmartStop affiliate) as a debt-free 1031-eligible DST targeting $64.8M equity across three properties: Orlando FL (680 units), Pasadena TX (840 units), Corinth TX (770 units).