Top1031

Go Store It – Nantucket

Self-storage property in Nantucket, MA · sponsored by Go Store It Partners

HistoricalLast Form D filed May 5, 2022 (opens in a new tab)

Go Store It – Nantucket was a DST sponsored by Go Store It Partners that owned a self-storage property in Nantucket, MA (672 units). Its last Form D was filed May 5, 2022.

How it ended

No outcome recorded · under 7 years

Last Form D filed May 5, 2022.

Key facts

Minimum investment
$25,000
From the Form D
Offering size
$50,324,022
Equity offered, per the Form D
Sold
Not reported after the first Form D (May 5, 2022)
Form D, May 5, 2022
Selling commissions
$3,522,681 · 6.9% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
How it is financed ↓
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.

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 →

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Ask a 1031 specialist about this recordFree. About: Go Store It – Nantucket. Top1031 is not a broker-dealer.
Go Store It – Nantucket image

Go Store It – Nantucket · Nantucket, MA · Photo: gostoreit.com

What did Go Store It – Nantucket own?

Go Store It announced on December 26, 2018 that it had recently acquired a newly constructed, fully climate-controlled self-storage facility on Nantucket.1 Its location page gives the address as 32 Tomahawk Road.2 A February 7, 2023 report placed the building on just under an acre and described its transfer from Go Store It Nantucket LLC to this Trust as an apparent $42 million internal transaction that produced $840,000 for the Nantucket Land Bank.3

Reported location
Nantucket, MA
Property size
672 units; 63,000 rentable square feet

How was it financed, and what did it cost to sell?

Nothing in the one Form D on file describes a mortgage, a lender, or loan terms, and no debt figures for this Trust appear in the public record.

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
May convert to a REIT (721)
Not stated in the public record

Costs and terms from the Form D

Selling commissions
$3,522,681 · 6.9% of offering
Finders’ fees
$0
Recipients of sales compensation
1 named in the Form D
Show the names
  • Coastal Equities, Inc.
Date of first sale
Not in the Form D
Minimum investment
$25,000

Form D Item 15 amounts may be the issuer’s estimates; the percentage is Top1031’s arithmetic on two Form D figures.

What does the SEC record show?

Legal Trust name
GO STORE IT NANTUCKET STORAGE DST
SEC CIK
1926994
First Form D
May 5, 2022
Latest Form D
May 5, 2022
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR
  1. Form D filedFirst and latest filing on record.

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 Go Store It – Nantucket?
Go Store It – Nantucket is a Historical offering. Last Form D filed May 5, 2022.
What was the $42 million figure reported in 2023?
Local reporting on February 7, 2023 described the Tomahawk Road facility moving from Go Store It Nantucket LLC to Go Store It Nantucket Storage DST in an apparent $42 million internal transaction, which produced $840,000 for the Nantucket Land Bank under its transfer fee. Nantucket Current reported that both entities traced to Madison Capital executives at the same Charlotte address. The reporting characterized it as an on-paper transfer, not an independently verified arm's-length sale price.
What is the minimum investment?
The Form D filed May 5, 2022 reported a $25,000 minimum accepted from any outside investor. The same filing estimated that $800,000 of proceeds would go to payments to persons required to be named as executive officers, directors, or promoters. The private placement memorandum, not the Form D, would govern actual terms.
Does the record show how the property is financed?
No. The single Form D does not disclose a mortgage, lender, loan-to-value, or any leverage figure, and no debt terms for this specific Trust were located in public sources. An investor would need the PPM and the loan documents to know whether the Trust carries debt at all.
Who operates the storage facility day to day?
The property is presented publicly under the Go Store It Self Storage brand, whose location page lists climate-controlled, indoor and drive-up units plus parking for vehicles and trailers at the Nantucket site. The Form D itself names no property manager, and the management agreement would be described in the offering documents.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

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.