AAA Storage Investments

Paul Bennett at AAA Self Storage and his experienced team have over three decades of development experience in self-storage. They have transitioned their success in developing single-site investments to a fund model. I like the increased diversification and am in Fund II (almost one year). Normally, with a development, there is such a long lag and a blind pool, but AAA has already purchased sites, vetted them, and obtained permitting and titling to proceed, then sells them at FMV to the fund (I realize they could abuse this, but they use a reasonable FMV methodology). This makes the properties ready to go upon acquisition of funds from investors and speeds up to a 2-3 year process to build out, then stabilize a self-storage facility to where it can be sold. They are super efficient and build out in phases. They are also doing small-bay industrial, a much sought-after CRE subcategory. The key is that they build to a specific yield-on-cost with a healthy margin far above the prevailing, not wishful thinking, cap rate at sale to ensure contingencies, and most importantly, profitability. They have done this on over 30 facilities. They have the team, the expertise, and the connections for exits. Their transparency, eagerness to entertain any questions, and excellent communication are the kind of operator I trust. Finally, look at the self-storage market cycle going from overbuilt during cheap loan days around 2020-2 to underbuilt in the next few years, with growing demand that they will sell into this optimal window. Paul knows his industry and CRE backwards and forwards, and the terms are very rewarding without being overstated or hyperbolic. While I'm waiting for the results, I anticipate participating in more deals in the future.

I was drawn to AAA Storage based on a different asset class, self storage/small bay industrial development, and their impressive track record. I invested with them because during my vetting process, both Paul and Andrew spent a tremendous amount of time with me over numerous phone calls and emails. They walked through their history, recent switch to a fund model vs single asset deals, and past deals...good and bad. I decided to invest in their Fund I in late March, 2025. They are great communicators through quarterly updates, always available via phone or email to answer an questions or concerns, and experts in the self storage/small bay industrial development market. Due to the experience after my investment in Fund I, I broke the 12 month reinvestment rule and joined their Fund 2 when it was launched in late 2025. The communication and service was as promised and felt very confident with an additional investment with them. Fund I has not has any distributions yet, however nothing was projected at this point. I have no concerns about them hitting their deadlines/milestones in their original proforma. Only small negative is with their portal not being up to par with other sponsors. Their updates and other documents are uploaded, however investors cannot get an update on contributions, distributions, etc. With that being said Andrew is very good about providing updates upon request. I continue to be pleased with my investments with AAA Storage. I have a lot of confidence that projected results will be hit and highly recommend them to other passive investors.

I had multiple conversations with Paul Bennett, and a few other AAA team members, before deciding to invest in their latest fund. Their track record was very impressive, having been deeply entrenched in the self storage space for over 30 years. Getting to know their team, I felt very comfortable in their competence and ability to mitigate key development risks. It's early in my investment experience with AAA, but they are worth a look for anyone interested in finding top notch operators in the self storage space.