NexPoint Fully Subscribes $46 Million Self-Storage DST
NexPoint, a multibillion-dollar alternative investment firm, has fully subscribed its NexPoint Storage V DST, a Delaware Statutory Trust (DST) offering. The offering has reached its total goal of $46 million in equity raised since its launch in June.
NexPoint Storage V includes two GenerationV (GenV), Class-A storage facilities located in Cape Coral, Fla., and Dundalk, Md. Both properties are managed by Extra Space Storage.
The properties benefit from being accessible to high-growth metropolitan statistical areas, some of which have exhibited above-average population and job growth over the last five years. The Class-A assets include the amenities and characteristics of GenV storage facilities including all climate-controlled units in one self-contained multistory building and are in desirable neighborhoods.
“We continue to see positive growth and opportunity in the self-storage sector and are grateful to our partners who helped fully subscribe our fifth self-storage offering and bring that opportunity to investors,” said Matt McGraner, NexPoint Chief Investment Officer and Executive Vice President of the DST Sponsor. "With the strong demand for these specialized, modern assets, we are excited to continue to provide access to this segment of the self-storage sector.”
NexPoint’s self-storage platform was developed from the ground up by entrepreneurial developers with substantial experience selecting, acquiring, and entitling sites for self-storage development. Today the platform is comprised of an investment portfolio, including wholly-owned and managed vehicles and DSTs, valued in excess of nearly $2.0 billion.
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