NexPoint Launches $46 Million Self-Storage DST Offering
Alternative investments firm NexPoint has launched NexPoint Storage V DST, a Delaware statutory trust offering. The offering includes two Class A storage facilities located in Cape Coral, Fla., and Greater Baltimore. Both facilities will be managed by Extra Space Storage.
The properties included in the offering are situated in the Baltimore-Columbia-Towson, Maryland, and Cape Coral-Fort Meyers, Florida metropolitan statistical areas. Both MSAs have market fundamentals that NexPoint believes will drive demand for storage facilities and provide value to investors. The offering, sized at $46 million, is open to accredited investors and is eligible for 1031 exchanges, with a minimum investment threshold of $100,000.
NexPoint said the Maryland storage property benefits from its location in an MSA with a stable and growing population and higher-than-expected employment growth, which coincides with higher GDP per capita growth than the rest of the state. The facility is in a walkable area, located approximately five miles from the Baltimore Inner Harbor, two miles from Interstate 95, and a mile from a large regional shopping mall.
The Cape Coral MSA has similarly experienced greater GDP growth per capita than the rest of Florida over the past nine years, according to NexPoint, supporting the outlook for the Florida storage property. The facility is located in a dense residential area between Interstate 75 and the Gulf of Mexico beaches, less than a mile away from a Publix supermarket.
Both Class A assets include the amenities and characteristics of what Nexpoint calls “Generation V” storage facilities, such as enhanced security, and all climate-controlled units in one self-contained multistory building.
“The launch of NexPoint Storage V DST provides investors with another opportunity to invest in NexPoint’s state-of-the-art self-storage portfolio,” said Matt McGraner, executive vice president of the DST sponsor. “We believe that these GenV facilities represent the top self-storage product in their respective submarkets and will continue to maintain strong occupancies and rental rates in these dynamic MSAs.”
The investment portfolio of NexPoint self-storage platform includes wholly owned and managed vehicles and DSTs, which are valued in excess of $2 billion.
NexPoint is comprised of a group of affiliated investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles. Based in Dallas, NexPoint provides access to alternatives through a range of investment solutions, including public and private real estate investment trusts, tax-advantaged real estate vehicles, merger arbitrage and event driven strategies, other private real estate investments, closed-end funds, interval funds, and a business development company.
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