Global Storage Partners Investment Fund III
Our vision is to build a best-in-class alternative asset investment platform focused on growing NAV per property and distributions for our capital partners through value investing in real estate. Come join us.
Global Storage Partners is seeking to raise $20 million for our third fund focused on our core strength -- self-storage.
The primary objective of The Global Stor Real Estate Fund III (the “Fund”) is to acquire value-add or opportunistic self-storage projects that require renovation or leasing.
These projects come in the form of new self-storage development opportunities that can be (or have been) approved, are under construction or in lease-up. Additionally, we seek vacant retail, office or industrial properties that can be converted to self-storage and we may also acquire debt secured by self-storage properties.
The building sizes will generally range from 75,000 to 150,000 square feet. The Fund will target properties with acquisition values between $1 million to $15 million.
Global Storage Partners (GSP) is pursuing investments in new or existing self-storage debt.
These projects come in the form of new self-storage development opportunities that can be (or have been) approved, are under construction or in lease-up. Additionally, we seek vacant retail, office or industrial properties that can be converted to self-storage and we may also acquire debt secured by self-storage properties.
The building sizes will generally range from 75,000 to 150,000 square feet. The Fund will target properties with acquisition values between $1 million to $15 million.
Global Storage Partners (GSP) is pursuing investments in new or existing self-storage debt.
- When fully subscribed, the Fund plans to maintain diversification by limiting the investment exposure in any single asset to no more than 40% of the total Fund's committed capital.
- The Fund will have a maturity of 5-years after a potential 3-year investment period with the ability to extend for another 24-months, depending on market conditions.
- The Fund will utilize leverage that will be limited to 70% of the aggregate value of the properties in the Fund based upon the acquisition cost or current appraisal of each property (whichever is higher) after the fund is fully subscribed.
- The Fund will explore a sale or recapitalization upon receipt of a Certificate of Occupancy of each building.
210k
Total amount of square footage currently acquired and under development by the Fund.
65%
Current subscribed amount towards Fund III goal.
Fund details at a glance
- Target Gross IRR of 16-18%
- Anticipated irregular distributions from liquidity events and cash flow with portfolio value growth
- Target equity size of $20 million with the ability to increase to up to $30 million
A Simple "3-step" idea...
- Buy buildings that are functionally obsolescent.
- Change the use and convert into a 3rd generation self-storage facility.
- Hire a proven third-party property manager with a state-of-the-art online marketing system.
We Partner with the Top U.S. Self-Storage REITs
For many years now, we have closely partnered with “The Big 3," who serve as our property management arm for each self-storage project in our portfolio. We extensively coordinate during the due-diligence and design phase before we acquire a property. GSP knows how to select the right property manager for each market we enter.
The benefits are that each property management company is adept at online marketing and leasing, using real-time market pricing and proprietary software. This competitively positions us to increase income and the overall value of our properties.
By having a robust relationship with these self-storage partners, GSP has access to an invaluable database of information that helps us make the right investment decisions.
The benefits are that each property management company is adept at online marketing and leasing, using real-time market pricing and proprietary software. This competitively positions us to increase income and the overall value of our properties.
By having a robust relationship with these self-storage partners, GSP has access to an invaluable database of information that helps us make the right investment decisions.
Why Invest?
Aligns Interests with Investors
GSP’s Managing Partners invest in all of the funds we create.
Allows investors to capitalize on growing trends
We pay a competitive preferred return to our investors that must be surpassed before any promoted profits are paid to GSP.
Our focus is on maximizing value for our partners
We are actively exploring new strategies such as the utilization of blockchain technologies and tokenization. Our objective is to always stay ahead of the pack.
Recent Achievements
Memphis Beale
- Fund III acquired an interest in the property, the former Commercial Appeal newspaper printing facility in downtown Memphis, when the property was purchased in March 2024.
- The property consists of 3.24 acres. Construction began in Q4 2024 on the conversion of the existing four-story concrete building to self-storage and Global Storage Partners (“GSP”) was marketing 1.66 acres of excess land for sale or lease to prospective commercial users. In November 2024.
- The former printing facility is being converted into 104,898 net SF (1,141 units) of Class A climate-controlled self-storage, with an original completion date of March 2025.
- GSP received an offer for the sale of the property in December 2024 and construction was halted shortly thereafter. In January 2025, GSP executed a purchase and sale agreement for the sale of the property and escrow is scheduled to close in late March 2025.
- GSP acquired the property for $2.5M in December 2018.
- The former ACME grocery store was converted into a Class A climate-controlled self-storage facility consisting of 93,117 net SF (935 units) - the second floor of mezzanine space in the store was designed and constructed to increase net SF.
- The self-storage facility is managed by Extra Space and is ranked as the top performing Extra Space facility in the Southern corridor of New Jersey
- The project consists of 19,750 net SF of retail parcels.
- GSP acquired the property for $2.5M in December 2018.
- GSP acquired the property for $2.5M in December 2018.
- GSP acquired the property for $2.5M in December 2018.
Memphis Beale
- GSP acquired the property for $2.5M in December 2018.
- The former ACME grocery store was converted into a Class A climate-controlled self-storage facility consisting of 93,117 net SF (935 units) - the second floor of mezzanine space in the store was designed and constructed to increase net SF.
- The self-storage facility is managed by Extra Space and is ranked as the top performing Extra Space facility in the Southern corridor of New Jersey
- The project consists of 19,750 net SF of retail parcels.
- The project was refinanced in Q1 2023 with a $17M loan and investors were given the option to cash out or stay in the deal.
Global Des Moines I
- GSP acquired the property, which was being used as a retail strip center, for $2.65 in May 2021.
- The property originally consisted of ~14.7 acres and GSP divided the property into 5 sub-parcels.
- A former Menard’s home improvement building was converted into 39,834 net SF of climate controlled self-storage space. Additional self-storage will be developed, which may include both climate controlled and exterior self-storage units.
- CubeSmart was retained as the 3rd-party manager for the self-storage facility; leasing began in late August 2023 and the first phase of climate controlled self-storage is approximately ~65% leased.
- GSP created and sold one excess commercial parcel for an Olive Garden restaurant, a second commercial parcel for a Raising Cane’s restaurant, and a third commercial parcel for a stand-alone Dollar Tree store.
Contact Us
Reach out today to learn more about becoming involved with a skilled and dedicated team that strives to create value from conscious commercial real estate investments.
1947 Camino Vida Roble
Suite 280
Carlsbad, CA 92008
760.634.1919
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