Top1031

Montrose Airport Storage

Self-storage in Montrose, CO — sponsored by Southern Star Storage

Files with the SEC as SOUTHERN STAR STORAGE-MONTROSE II DST

Minimum investment
$100k
Offering size
$6.2M
How much has sold
None sold yet
Asset type
Self-storage
Location
Montrose, CO
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

Montrose Airport Storage is a Delaware Statutory Trust — a structure that lets 1031 exchange investors hold fractional interests in real estate — sponsored by Southern Star Storage for a self-storage property in Montrose, Colorado. It was offered privately to accredited investors under a single 2022 Form D and is closed to new investors. Silver Star Properties suspended distributions to Southern Star-sponsored DSTs effective April 15, 2024.4

Show sources (13)Hide sources (13)

These links support the historical public record; 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.

Chapter 2

What exactly is the property?

Southern Star markets Montrose Airport Storage at 63224 La Salle Road in Montrose, Colorado, a drive-up self-storage facility that also takes RV and boat parking.1 Top1031 treats that address as a sponsor-reported match; no primary record ties the street address to this Trust. Silver Star's September 2024 pivot presentation described Montrose II as a two-property Colorado-and-Texas portfolio of 78,877 square feet and 481 units.2 Acquisition date and price are not in the public record.

Reported location
Montrose, CO
Chapter 3

Who is the tenant, and what's the lease?

No tenant or lease terms for this Trust appear in the public record. Southern Star's own facility page lists the storage, RV and boat parking on offer but states no tenant, lease structure, or occupancy.1

Chapter 4

How did it end?

What happened

No ending on record

Silver Star Properties REIT acquired the sponsor (Southern Star) on 2023-05-05 and suspended distributions to all Southern Star-sponsored DSTs (including this Montrose Airport Storage property in Montrose, CO) on 2024-04-15; no disposition or 721 UPREIT exchange has been announced.

The operator page markets Montrose Airport Storage by Southern Star at 63224 La Salle Road, offering drive-up self-storage, RV parking and boat storage. The DST-specific investigation pages identify the trust and offering amount ($6,157,295) without explicitly printing the address; the assignment is therefore a city-level match, not an explicit trust-to-address statement. No total unit or square-foot count was found; the trust-specific pages report $6,157,295 sought and distributions reportedly suspended in 2024.

Supporting evidence
Chapter 5

How is it financed, and what does it pay?

Trust-level debt is not disclosed anywhere in the public record. Multi-Housing News reported on July 11, 2022 that Montrose Airport Storage was one of four Southern Star facilities covered by an $8.7 million non-recourse, interest-only CMBS loan, without naming this Trust as borrower or allocating the loan by property.5

Chapter 7

What does the paperwork say?

One Form D and no amendments: nothing filed later reported a first sale, a closing, a dissolution, or an extension. The issuer estimated $554,156 of sales commissions and $157,009 of payments to executive officers, directors, or promoters.6

  1. Form D filedFirst and latest filing on record.
Filings on record
1
How it may be offered
Rule 506(b)Not advertised publicly. Offered through existing relationships.
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.

Chapter 8

Common questions

What happened to Montrose Airport Storage?

Top1031 lists Montrose Airport Storage as historical. It is no longer raising money.

Where does Top1031 get the data for Montrose Airport Storage?

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.

Can I still invest in Southern Star Storage-Montrose II DST?

No. The Trust is closed to new investors. Its only SEC filing is a single Form D from August 15, 2022, and Southern Star Storage has no offerings currently raising in Top1031's data. Delaware Statutory Trust interests are also not resold on any public market.

What happened to distributions on this Trust?

Silver Star Properties REIT, which acquired Southern Star, said on April 30, 2024 that monthly distributions to Southern Star-sponsored DSTs were suspended effective April 15, 2024 while it examined Southern Star's operations and its sponsored trusts.[4] Top1031 found no verified record of distributions resuming as of August 24, 2026.

Who controls the sponsor now?

Silver Star Properties REIT announced the acquisition of Southern Star Self-Storage on April 6, 2023 and reported completing it on May 5, 2023, running Southern Star as a subsidiary. Silver Star's filing for the quarter ended September 30, 2023 listed Montrose II among four Southern Star-sponsored DSTs.[3]

What property does the Trust hold?

Southern Star markets Montrose Airport Storage at 63224 La Salle Road in Montrose, Colorado, with drive-up storage plus RV and boat parking.[1] Silver Star's September 2024 pivot presentation described Montrose II as a two-property Colorado and Texas portfolio of 78,877 square feet and 481 units.[2] The link between the street address and this specific Trust is sponsor-reported, not established in a primary record.

What does Rule 506(b) mean here?

Rule 506(b) is the private-placement exemption that bars general advertising: the Trust could be shown only to investors the sponsor or its broker-dealers already knew, and in practice only to accredited investors — individuals meeting SEC income or net-worth thresholds. Terms live in the private placement memorandum (PPM), which is not a public document.

Has the Trust sold the property or exited?

No completed sale, dissolution, or 721/UPREIT exchange — a swap of DST interests for operating-partnership units in a REIT — has been verified for Montrose II as of August 24, 2026. Silver Star said in April 2024 only that sales, dissolutions, and outsourcing were under consideration.[4]

Chapter 9

In the news