NexPoint, an alternative investment firm, announced the launch of NexPoint Storage IV DST, a Delaware statutory trust offering comprised of three Class A self-storage assets in submarkets in the Phoenix, Arizona and St. Petersburg, Florida metropolitan statistical areas.
NexPoint Storage Partners, Inc. acquired the assets for inclusion in NexPoint Storage IV DST, which aims to raise $70.3 million. The assets are managed by Extra Space Storage and offer revenue and value growth potential in two of Arizona and Florida’s MSAs, according to NexPoint. Extra Space is the largest third-party self-storage manager in the U.S., with more than 1,200 properties under management for third parties and managed joint ventures across 40 states.
“We are very excited to launch NexPoint Storage DST IV with ownership in three premium assets in two MSAs that are among the top 10 fastest growing in the U.S. and in one of the fastest-growing sectors in the commercial real estate space” said John Good, chief executive officer of NexPoint Storage Partners. “We believe this is a terrific opportunity for accredited investors to gain exposure to the self-storage sector.”
Two of the assets are located in the Phoenix MSA, and the third asset is located in the St. Petersburg area.
NexPoint is a multibillion-dollar alternative investment firm comprised of a group of investment advisers and sponsors, a broker-dealer, and a suite of related investment vehicles.
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