Blue Door Property II, DST
Self-storage in Multi-state (2) — sponsored by Blue Door AM
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.
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
Minimum investment
$25k
Offering size
$64.8M
How much has sold
None sold yet
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited 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?
Three operating trusts bought the facilities on February 20, 2025 for an aggregate $54,100,000, paid in cash with no mortgage financing.1 Before that closing the properties were operated by US Storage Centers and were then moved onto SmartStop's platform, managed by Blue Door Property Management, LLC, an indirect SmartStop subsidiary.1 Baker 1031's 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 outside credit tenant here. Sponsor materials report that all three properties are net leased to Blue Door Property Master Lessee II, LLC — a sponsor affiliate — under a single master lease, while the storage units themselves are rented to customers month to month.1 What reaches the Trust depends on how that affiliate runs the storage business.
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 at the trust level there is no lender, no loan balance and no maturity date.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, the sponsor, is an indirect subsidiary of non-traded REIT Strategic Storage Growth Trust III, Inc. and an affiliate of SmartStop Self Storage REIT (NYSE: SMA).2 SmartStop's May 6, 2026 first-quarter results described an owned and managed portfolio of roughly 460 self-storage properties. On July 14, 2026 it was reported that SSGT III and Strategic Storage Trust VI would combine in an all-stock merger; SST VI's August 26, 2026 second-quarter release said the transaction would include interests in three DST programs owning eight self-storage properties.
- Sponsor
- Blue Door AM
- 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 initial Form D, so the federal record still reflects the offering roughly as it stood at the July 15, 2025 launch announcement.2 Because the offering may be advertised publicly, each subscriber's accredited-investor status — the income or net-worth test — must be independently verified rather than self-certified.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- Blue Door Property II, DST
- 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?
Availability unconfirmed. Active means a filing within the past 15 months; it does not by itself establish current subscription availability.
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.
Is the Trust still open to new investors?
Top1031's filing-derived record shows this Trust as raising, because its only SEC filing is the Form D notice of August 4, 2025 and that notice has never been amended, so the federal record reflects no later change to the offering. Separately, Baker 1031's offering page, last updated August 18, 2026, listed the offering status as available with $29,000,000 of available equity — a third-party figure the SEC record neither confirms nor contradicts. Confirm current availability with the sponsor or your representative before committing exchange proceeds.
Who actually pays rent to the Trust?
Sponsor materials report that each of the three properties is net leased to Blue Door Property Master Lessee II, LLC, an affiliate of the sponsor, under a single master lease. That master tenant, not the individual storage customers, is the Trust's counterparty; the customers themselves rent units on month-to-month agreements. Published material reviewed does not reliably establish the master lease's term or its rent components, so read the term, the rent structure and any deferral or termination rights in the Private Placement Memorandum (PPM), the document that governs the offering.
What does it mean that this Trust is debt-free?
Sponsor materials report the three properties were acquired for $54,100,000 in cash and carry no mortgage debt. There is no loan maturity to refinance and no lender consent needed 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?
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), per the sponsor's July 15, 2025 launch announcement. The three facilities operate under the SmartStop brand and are managed by Blue Door Property Management, LLC, an indirect SmartStop subsidiary. On July 14, 2026 it was reported that SSGT III and Strategic Storage Trust VI would combine in an all-stock merger, and SST VI's August 26, 2026 second-quarter release said the deal would include interests in three DST programs owning eight self-storage properties.
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 wiring exchange proceeds.
Does this Trust convert into a REIT at the end?
Top1031's 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 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).