NexPoint Storage V DST features $46 million in equity backed by two self-storage assets, with zero leverage and a forecasted 4.20% Year-1 cash flow, making this offering an ideal complement for investors seeking to enhance their portfolio. The storage facilities included in this portfolio are strategically located in two of the nation’s fastest-growing MSAs in Maryland and tax advantageous Florida. These assets feature state-of-the-art ‘GenV’ technology, representing cutting-edge new construction, and are expertly managed by Extra Space Storage.
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Offering
Snapshot
Portfolio of two GenV storage facilities present an attractive investment opportunity. NexPoint believes that this portfolio of self-storage properties presents an attractive long-term investment opportunity due to favorable submarket demographics, nearby retail drivers, continued and strengthening demand for self-storage, quality of each asset, forecasted high physical occupancy of the portfolio and historical long-term strength of the sector.
Acquisition Details
Total Acquisition Cost1
$40,000,000
Total Capitalization
$46,439,932
Highlights of the Trust
Offering Size
$46,439,932
Minimum Purchase – Cash
$100,000
Minimum Purchase – 1031
$100,000
Loan-to-Value2
0%
Suitability
Accredited Investors Only
1. The Total Acquisition Cost includes the purchase price of the Properties and Other Closing Costs.
2. The loan-to-value ratio (“LTV”) is the ratio of a loan to the value of an asset purchased. For instance, if someone borrows $80,000 to purchase a property worth $100,000, the LTV ratio is $80,000 to 100,000 or $80,000/100,00, or 80%.
There are substantial risks in any investment program. See “Risk Factors” on page 19 of the PPM for a discussion of the risk relevant to the Offering.
Please review the entire PPM prior to investing. Reference is made to the PPM for a statement of risks and terms of the Offering. The information set forth herein is qualified in its entirety by the PPM.
All potential Purchasers must read the PPM and no person may invest without acknowledging the receipt and complete review of the PPM.
SELF-STORAGE INDUSTRY
The Fastest Growing Segment in the Last 40 Years*
*According to the Self Storage Association, a not-for-profit trade association representing the self-storage industry, the self-storage sector has been the fastest growing segment of the commercial real estate industry over the last 40 years. The demand for self-storage continues to strengthen as healthy job growth, rising wages and the formation of new households support the need for self-storage.
Latest Generation of Facilities
The Properties offered in the portfolio are multi-story, secure and climate controlled. The Properties are the latest generation facilities (built or renovated within the last five years). The Properties are within the urban core, in high density areas with strong demand drivers. Such facilities are referred to as GenV Storage Facilities.
Strength of Markets
The Properties are located in two major United States MSAs (Cape Coral MSA and Baltimore MSA) exhibiting, in the aggregate, above-average population and job growth over the past five years, and contain many of the demand drivers that can produce high occupancies and rental rates for self-storage facilities.
Experienced Property Management
Each of the Properties is managed by Extra Space Management, Inc., an affiliate of Extra Space Storage Inc. (NYSE: EXR), a leading owner and operator of self-storage properties utilizing latest generation revenue management systems, experienced data scientists, leading digital marketing techniques, and possessing many years of self-storage experience.
What is a GenV Storage Facility?
NexPoint believes that GenV Storage Facilities in the top 50 United States MSAs have the potential to perform better over time and create more value than facilities in smaller markets and older generation facilities, wherever located.
LOCATED IN DENSE
URBAN MARKETS
CLASS A
PROPERTIES
PREDOMINANTLY
CLIMATE
CONTROLLED
NEWLY
BUILT OR RENOVATED
TECHNOLOGICALLY
ADAPTED
STRONG POPULATION
GROWTH IN MARKET
MARKET OVERVIEW
Baltimore, Maryland
The Merritt property is located in Dundalk, Maryland, a city within the Baltimore MSA. The Baltimore MSA’s economy is expected to benefit from a stable to slightly growing population base and higher education levels. Since 2014, employment growth has grown by 64,617 jobs and employment growth is expected to continue in the future.1 The MSA is influenced positively from having both a higher rate of GDP growth in the past nine years and a higher level of GDP per capita than Maryland overall.
19th
MOST POPULOUS MSA IN THE US1
2,870,114
2023 EST. POPULATION2
4.8%
JOB GROWTH SINCE 20143
2.9%
UNEMPLOYMENT RATE3
$89,241
AVERAGE HOUSEHOLD INCOME2
1.9%
AVERAGE GDP GROWTH SINCE 20222
1 JLL Valuation & Advisory Services, LLC
2 Esri 2023, Complied by JLL Valuation & Advisory Services
3 Bureau of Labor Statistics; March 2024
Moody’s Analytics, May 2021.; Florida Dept. of Economic Opportunity, , Best Places, Forbes,, GFL Alliance
BALTIMORE MSA
Dundalk, Maryland
Merritt Property
1326 Merritt Blvd., Dundalk, MD
The Merritt property features a single climate-controlled building with three levels located at the intersection of Merritt Blvd. and German Hill Road. It boasts extended-hour access with 24-hour video surveillance throughout, premium lighting, secure keypad entry, a large leasing office with prominent signage and high-end elevators.
761
Units
79,315
SQFT
2020
Year Built
94.8%
Occupancy1
Property Highlights
Variety of Sizes
The Merritt Property offers a variety of unit sizes ranging from 5×5 to as large as 10×30, serving a range of customers with different storage needs.
High Quality
The Merritt Property boasts premium class “A” multi-story construction and amenities demanding high rates in the submarket.
Desirable Location
The Merritt Property is located in a very walkable area with a regional mall less than a half mile away and shopping facilities less than a quarter of a mile from the Property.
Easy Access
Located near North Point Blvd. and German Hill Road, the Merritt Property is easily accessible by car and serves the residents of Dundalk, Edgemere, Baltimore, Essex, and more.
1. As of April 30 2024.
MARKET OVERVIEW
Cape Coral MSA
The Chiquita Property is located within the Cape Coral MSA. Cape Coral MSA’s economy is expected to benefit from the growing population base and higher education levels. Since 2014, employment has grown by 73,617 jobs, and employment growth is expected to continue in the future.1 The Cape Coral MSA is influenced positively from having both a higher rate of GDP growth in the past nine years when compared to Florida overall.2
76th
MOST POPULOUS MSA IN THE US1
812,737
2023 EST. POPULATION2
31.8%
JOB GROWTH SINCE 20143
3.4%
UNEMPLOYMENT RATE3
$66,905
AVERAGE HOUSEHOLD INCOME2
4.8%
AVERAGE GDP GROWTH SINCE 20222
1 JLL Valuation & Advisory Services, LLC
2 Esri 2023, Complied by JLL Valuation & Advisory Services
3 Bureau of Labor Statistics, March 2024
Moody’s Analytics, May 2021.; Florida Dept. of Economic Opportunity, , Best Places, Forbes,, GFL Alliance
Cape Coral MSA
Cape Coral, Florida
Chiquita Property
4132 Chiquita Blvd. S, Cape Coral, FL
The Chiquita Property serves residents in Cape Coral and the surrounding area. The Chiquita Property offers a wide selection of over 700 climate-controlled storage units, with unit sizes as small as 5×5 and as large as 10×30. It also offers convenient amenities like 24/7 video surveillance and first-floor and elevator access.
714
Units
102,906
SQFT
2021
Year Built
82.9%
Occupancy1
Property Highlights
Amenities
The Chiquita Property is equipped with 24/7 video surveillance, moving carts for heavy items, multiple elevators for easy access to upper levels, accommodations for large trucks, wide-drive aisles, an on-site office, multiple entrance grates, and is compliant with ADA requirements.
Building Layout
With 102,906 total net rentable square feet, the Chiquita Property features a multi-story climate-controlled building with 714 total units. The building offers tenant access, as well as a leasing office, open to the public six days a week, for around eight hours a day. Convenient access to the building is available from elevator or indoor access.
Convenience
Located at the corner of Beach Pkwy W and Chiquita Blvd S, the Property serves residents of Cape Coral, McGregor, Pelican, and Caloosahatchee. Locals will recognize the facility is a few minutes north of Dollar General.
Security
The Chiquita Property offers 24/7 video surveillance and an on-site manager to provide a safe environment for customers and their belongings.
1. As of April 30, 2024.
Experts in Real Estate
Real Estate Track Record1
$20.1 Billion
In Gross Real Estate Acquisitions2
$534.5 Million
Real Estate Transactions in the Last 12 Months2
357
Real Estate Acquisitions2
34
States Invested In
Asset Mix2
1. Real estate assets as of 09/30/2024, inclusive of affiliates. 2. Real estate assets acquired from January 1, 2012 to September 30, 2024, inclusive of affiliates.
EXPERTS IN REAL ESTATE
NexPoint Storage Partners Management Team
John Good
Chief Executive Officer
John Good is the CEO and a member of the board of directors of NexPoint Storage Partners. Mr. Good lends his many years of real estate, legal, investment, and capital markets experience to the broader NexPoint platform in a senior advisory capacity. Mr. Good has been in the REIT and financial services industries for nearly three decades. Prior to joining NexPoint, Mr. Good was Chairman and CEO of Jernigan Capital, Inc.(“JCAP”), a NYSE-listed self-storage REIT.
Matthew McGraner
President
Matthew McGraner is a member of the investment committee for the Sponsor and serves numerous roles across the NexPoint platform. With over ten years of real estate, private equity and legal experience, his primary responsibilities are to lead the strategic direction and operations of the real estate platform at NexPoint. acquisitions. Mr. McGraner has led the acquisition and financing of approximately $18.4 billion of real estate investments.
Brian Mitts
Chief Financial Officer | Secretary and Treasurer
Brian Mitts is a member of the investment committee for the Sponsor and serves numerous roles across the NexPoint platform. Currently, Mr. Mitts leads NexPoint’s financial reporting and accounting teams and is integral in financing and capital allocation decisions. Mr. Mitts was also a cofounder of NREA, as well as NXRT and NexPoint Advisors, L.P., the parent of NREA. He has worked for NREA or one of its affiliates since 2007.
Extra Space Storage, Inc. is committed to being the most convenient, secure and professional storage solution in neighborhoods.
Extra Space is One of the Largest 3rd party Self-Storage Management Platform for a Reason1.
The Property Manager’s (i.e. Extra Space Management, Inc.) size and scale give it increased data, better decision-making abilities, and more efficient cost structures. It is able to leverage its scale and make informed decisions that ultimately benefit its partners’ properties.
1800+
Properties
40
States
All Properties in the Offering are managed by Extra Space Management, Inc., an affiliate of a self-administered and self-managed REIT and a member of the S&P 500, headquartered in Salt Lake City, Utah.
Extra Space Storage, Inc.’s properties comprise approximately 1.4 million and over 152.6 million square feet of rentable storage space. It offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage.
1. Inside Self-Storage, Top Operators List 2023 via https://www.insideselfstorage.com/iss-top-operators-facility-owners
Professional Managers
Over 1,800 Convenient Locations
State-of-the-Art Security
Clean and Well-Lit
Variety of Sizes
Climate-Controlled Units
NexPoint Storage Partners, Inc. is a self-storage real estate investment group created through NexPoint’s take-private acquisition of Jernigan Capital Inc. NexPoint Storage Partners builds on the original mission of JCAP to invest in newly built, multi-story, climate-controlled, Class-A self-storage facilities known as GenV Storage Facilities located in dense and growing markets throughout the United States.
Class A, Newly Built or Renovated GenV Storage Facilities
Strategically Selected Submarkets
25 Years of Self-Storage Growth and Development
NexPoint Storage Partners: A History of Portfolio Growth
The NexPoint Storage Partners, Inc.’s (“NSP”) broader portfolio was developed from the ground up with entrepreneurial developers having substantial experience in selecting, acquiring, and entitling sites for self-storage development. 96% of our facilities are located within the top 75 U.S. MSAs and 82% are located within the top 25 U.S. MSAs.
Since early 2015, NSP (formerly Jernigan Capital, Inc.) has underwritten over $12 billion of prospective self-storage investments and developed a high-quality portfolio of GenV Storage Facilities. The self-storage platform has grown from a blind pool of $110 million of initial capital on April 1, 2015, to an investment portfolio valued today at greater than $1.7 billion.
Disclosures & Risks
An investment in NexPoint Storage V DST is highly speculative, illiquid and involves substantial risk including the potential loss of your entire investment.
The photos presented in this page are of the actual Properties that are part of the Offering.
There are substantial risks in any investment program. See “Risk Factors” on page 19 of the accompanying PPM for a discussion of the risks relevant to this Offering. Distributions are not guaranteed. The forecasted distribution rates are only estimates based on the specific assumptions more fully described in the PPM. There is no guarantee that the assumptions used in the projections will be actualized. Please review the entire PPM prior to investing. Reference is made to the PPM for a statement of risks and terms of the Offering. The information set forth herein is qualified in its entirety by the PPM. All potential investors must read the PPM and no person may invest without acknowledging receipt and complete review of the PPM.
An investment in an Interest is highly speculative and involves substantial risks including, but not limited to:
- this is a “best-efforts” offering with no minimum raise or minimum escrow requirements;
- the lack of liquidity and/or public market for the Interests;
- the holding of a beneficial interest in the Parent Trust with no voting rights with respect to the management or operations of the Trusts or in connection with the sale of the Properties;
- risks associated with owning, financing, operating and leasing self-storage facilities, and real estate generally, in Florida and Maryland, and more specifically the Cape Coral-Fort Myers, FL Metropolitan Statistical Area (the “Cape Coral MSA”) and Baltimore-Columbia-Towson, MD Metropolitan Statistical Area (the “Baltimore MSA”);
- The Chiquita and Merritt Properties are located in a “Hurricane Susceptible Region,” which increases the risk of damage associated with owning, financing, operating, and leasing self-storage facilities and real estate;
- risks associated with the self-storage industry, such as significant occupancy rate fluctuations and relatively low capital requirements or other barriers to entry for competing properties;
- risks associated with the impact of pandemics, including the COVID-19 pandemic, on the Properties and the economies of the communities in which the Properties exist;
- the Trusts depend on the Master Tenants for revenue, and the Master Tenants depend on the Tenants for revenue and thus any default by the Master Tenants or the Tenants will adversely affect the Trusts’ operations
- performance of the Master Tenants under their respective Master Leases, including the potential for the Master Tenants to defer a portion of rent payable under such Master Leases;
- reliance on the Master Tenants and the Property Manager engaged by the Master Tenants, to manage each of the Properties;
- risks associated with the Sponsor funding the Demand Notes that capitalize each of the Master Tenants;
- the existence of various conflicts of interest among the Sponsor, the Trusts, the Master Tenants, the Asset Manager, the Property Manager, and their affiliates;
- material tax risks, including property identification risks and treatment of the Interests for purposes of Code Section 1031, and the use of exchange funds to pay acquisition costs, which may result in taxable boot;
- the lack of a public market for the Interests;
- the Interests not being registered with the Securities and Exchange Commission (the “SEC”) or any state securities commissions;
risks relating to the costs of compliance with laws, rules and regulations applicable to the Properties; - risks related to competition from properties similar to and near the Properties;
- lack of diversity of investment as to asset class; and
- the possibility of environmental risks related to the Properties.
NexPoint Securities, Inc., an entity under common control with the Sponsor, serves as the Managing Broker-Dealer of the offering. The Managing Broker-Dealer was formed in November 2013 and is registered as a broker-dealer with the Securities and Exchange Commission and is a member of FINRA/SIPC.
PLEASE CONTACT YOUR ADVISOR WITH ANY QUESTIONS ABOUT THIS OFFERING.