Expedition Storage Fund II invests in AAA Storage Growth Fund II, which develops up to 11 self-storage and small-bay industrial projects across Houston, Austin, San Antonio and Charlotte, then sells each one once it is leased up.
~23%
2.21x
~22%
6–8 years
At each sale
$50K
Expedition Storage Fund II invests in AAA Storage Growth Fund II, a development fund with an identified portfolio. It is not a blind pool. AAA already controls the sites, entitled and ready to build. The fund develops up to 7 self-storage facilities and 4 small-bay business parks, leases them up, and sells each one. Investors receive proceeds as each sale closes, possibly starting about year 4.
Enter an amount to see AAA Storage's projected 2.21x net multiple applied to it.
Below the $50,000 minimum. Figures shown for reference.
From $50,000 to $1,000,000, in steps of $5,000.
Highlighted rows: AAA expects each property to take 4 to 5 years to develop, lease up and sell.
| Average hold | 2.0x | 2.5x | 3.0x |
|---|---|---|---|
| 3 years | 26% | 36% | 44% |
| 4 years | 19% | 26% | 32% |
| 5 years | 15% | 20% | 25% |
| 6 years | 12% | 16% | 20% |
Illustrative, based on AAA Storage's projections. No distributions from operations are expected. Proceeds are paid as each property sells. Not guaranteed.
92 projects built and sold since 1993.
| Before 2011 | Held through 2008–09 | After 2011 | All time | |
|---|---|---|---|---|
| Projects | 60 | 39 | 30 | 90 |
| Weighted avg. project equity multiple | 3.5x | 4.0x | 3.1x | 3.3x |
| Weighted avg. hold | 8.7 yrs | 10.9 yrs | 3.3 yrs | 6.3 yrs |
| Investor IRR, net | 18% | 14% | 33% | 20% |
The 39 projects held through 2008 and 2009 returned about 14% with none losing money.
Founder and CEO
President and Managing Director
Director of Development and Construction
VP of Property Management
Director, Investor Relations
Internal Director
Senior Market Analyst
AAA invests at least 15% of the fund's total capital on the same terms as every investor, and expects to guarantee all property-level debt, about $60 million.
Up to 11 projects, six already moving. Seven self-storage facilities and four business parks across Houston, Austin, San Antonio and Charlotte.
| Project | Location | Phase 1 / total sq ft | Status |
|---|---|---|---|
| Huffmeister Self-Storage | Northwest Houston | 40,100 / 81,087 | Certificate of occupancy and lease-up expected September 2026 |
| Buda Self-Storage | Buda (Austin area) | 53,201 / 83,200 | About 65% complete, certificate of occupancy expected October 2026 |
| Buda Business Park | Buda (Austin area) | 71,490 / 168,490 | Building shells and driveways expected complete October 2026 |
| Elgin Self-Storage | Elgin (Austin area) | 50,525 / 97,625 | Construction scheduled to start September 2026, lease-up expected May 2027 |
| Elgin Business Park | Elgin (Austin area) | 55,300 (one phase) | Shells and pre-leasing expected late Q1 to early Q2 2027 |
| Hutto Business Park | Hutto (Austin area) | 80,511 / 128,391 | Construction expected to start before the end of 2026 |
Status as of AAA's August 2026 update. Square footage is net rentable. Remaining projects, including San Antonio and Charlotte, follow as capital is raised.
Depreciation is expected to start reaching investors on their 2027 K-1s as finished facilities are placed in service. Talk to your tax advisor about how it applies to you.
There is no public market for fund interests. Only commit capital you will not need before the 6 to 8 year fund life ends.
Two property types, spread across four metros (Houston, Austin, San Antonio and Charlotte) and both types within each.
Returns depend on markets, construction costs and lease-up. AAA updates sub-market studies before every acquisition and value-engineers each project.
The strategy depends on AAA's team. Its 15% co-investment on identical terms ties its incentives to yours.
Founder · Expedition Equity
Dylan is responsible for investment strategy, underwriting oversight and capital allocation at Expedition Equity. His background covers building and operating multi-location businesses, evaluating real-asset and operating-company investments, and navigating private-market structures across several asset classes.
That experience informs a disciplined, risk-aware approach to which opportunities get brought to investors and which partnerships are worth making. An early career in healthcare shaped a process-driven, analytical approach to risk and decision-making.
For this offering, Expedition Equity has partnered with AAA Storage, which has developed self-storage since 1993 and has built and sold 92 projects.
A fund that invests in AAA Storage Growth Fund II, which develops and sells self-storage and small-bay industrial properties in Texas and North Carolina.
$50,000.
No distributions from operations are expected. Proceeds are paid as each property sells, possibly starting about year 4, with all properties targeted to sell within 6 to 8 years.
About 23% IRR and 2.21x your money, net of fees and carried interest, based on AAA's projections.
A developer building self-storage since 1993, with 92 projects built and sold, about 20% average IRR to investors and none losing money.
You get a K-1. Depreciation is expected to begin on 2027 K-1s.
Yes, at subscription, with no further capital calls.
Up to 11 projects across Houston, Austin, San Antonio and Charlotte, a 6 to 8 year target fund life, proceeds paid as each property sells, and a $50,000 minimum.
