The SOA Income Fund provides financing to Storage of America to support its continued growth and development. The fund is structured to pay an 8% net annual return, with monthly distributions.
For accredited investors · $100,000 minimum investment
Investment involves risk, including possible loss of principal.
The SOA Income Fund provides financing to Storage of America to support its continued growth and development. The fund is structured to pay an 8% net annual return, with monthly distributions and no investor management, performance, subscription, or redemption fees.
The fund is structured to pay an 8% net annual return, net of fund expenses. Distributions are subject to the offering terms and investment risks.
The fund's distribution schedule is monthly. Actual distributions depend on the fund's ability to meet its obligations and the terms of the offering.
No investor management, performance, subscription, or redemption fees. Requested special-service costs and separate custodian fees may apply. Review the offering documents for details.
Backed by a corporate guarantee from Storage of America, which has 23+ years of operating history, $250M+ in appraised real estate, and zero loan defaults to date. The guarantee depends on Storage of America's ability to meet its obligations and does not eliminate investment risk.
For accredited investors evaluating a real estate income strategy.
Self-storage has been one of real estate's top-performing sectors since its inception in the 1960s — and one of the few that held firm through the 2008 financial crisis. Today, Trepp's CMBS data continues to confirm self-storage as one of the most defensive property types across commercial real estate.
Moving, downsizing, and household transitions can create demand for storage. Demand and occupancy can still change with economic and local market conditions.
Rental income and property values depend on occupancy, expenses, competition, and local supply. Growth and appreciation are not assured.
The share of households and businesses using self-storage as a normal part of life has grown significantly since the 1990s and continues to expand.
Compared to multifamily or commercial real estate, self-storage has lower maintenance intensity, no tenant improvements, and scalable remote management.
Trepp's February 2026 CMBS data shows office at 11.20%, multifamily at 6.85%, retail at 6.30%, and industrial at 0.67% delinquency. Self-storage is commonly viewed as one of the most defensive property types and, in Trepp's July 2026 sector snapshot, posted a delinquency rate of just 0.05%.
Sources: Trepp February 2026 CMBS Loan Performance Report; Trepp Self-Storage CMBS Snapshot, July 2026
U.S. renter households have grown from 10M to 16.7M since 2005 — with market penetration hitting a record 12.6% in 2024.
Source: Self Storage Association, 2025 Demand Study
Through the COVID-19 pandemic, self-storage CMBS delinquency rates remained near zero — far below the overall CMBS market.
Source: Trepp — CMBS Delinquency Rate, Self Storage vs. Overall Market (Jan 2020–May 2022)
Storage of America has developed and operates one of the largest regional self-storage portfolios in the Midwest — built through disciplined acquisition, in-house development, and operational excellence.
Portfolio area figures above are gross square feet; individual property profiles report net rentable storage area.
Closes on less than 1% of deals analyzed. Rarely acquires properties for more than 50% of replacement cost — often significantly less. Former Target and big-box conversions acquired at $5–10/SF where replacement costs run $80–100/SF.
Construction and development are managed in-house, from planning and conversion through delivery.
Remote-managed sites run more efficiently, requiring only one manager per two locations — driving profit margins significantly higher than traditionally staffed facilities and keeping operating costs well below industry averages.
Robert Walker founded Walker International Capital in 1990, establishing a 36+ year real estate investment history. He founded Storage of America in 2003, building its 23+ year operating history. Across more than 700 total property transactions, Robert Walker and his related entities have recorded zero loan defaults to date.
View the full portfolio and case studies in the offering materials.
Selected Storage of America projects illustrate its acquisition, conversion, and development approach. Property-level costs, appraisals, and value multiples are not realized profits or fund investor returns. Past project results do not predict future fund performance.
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Acquired a former Venture department store for $1.1M and converted it into self-storage with an indoor drive aisle, followed by an expansion. The facility offers 143,825 net rentable storage square feet across 1,103 units.
Acquired a former factory outlet mall for $600,000 and converted it to self-storage. The operating property spans 31.18 acres, with approximately 118,264 net rentable storage square feet.
Converted a former Target store into self-storage and expanded the campus with outdoor drive-up units. The two facilities total 85,748 net rentable storage square feet.
Combined South Boulevard campus totals (both facilities)
Storage of America sold a prior Akron facility and redeveloped the operation inside a former Macy's department store attached to Chapel Hill Mall. The project features a ground-level drive aisle and approximately 111,018 net rentable storage square feet, with a cost basis of approximately $4.14 million and an as-is appraised value of $12.80 million.
Meet the people overseeing Storage of America's acquisitions, development, construction, operations, finance, and investor relationships.
Rob Walker's first real estate investment began with $2,000 he and his wife, Joni, had saved while he was working as an attorney in Calgary. That money became a down payment on a property and the beginning of a career in real estate.
Derek Walker has been with Storage of America since 2011. As President, he oversees the company's development, operations, and financing, with responsibilities that cover both new projects and the facilities already serving customers.
Kenny Moore particularly enjoys summarizing financial reports for audiences at every level and anticipating what the numbers mean for the business. He puts that approach to work as Storage of America's Chief Financial Officer.
Austin Bush manages construction for Storage of America's new and renovated facilities. He works directly with general contractors on the decisions that come up during a build, from a design change or payment request to a scheduling problem on site.
Jacob Walker looks for properties that could become Storage of America's next acquisition or development. Before recommending a deal, he studies the local market and works through the economics, paying particular attention to the purchase price and what could go wrong.
Tom Fitzpatrick works with communities to get Storage of America's projects approved and ready to build. That often means representing SOA at public meetings, answering questions about proposed uses, and working with the design team and government entities on project design and addressing concerns.
Chris Bada first met the Storage of America team in 2022 while working in sales for a self-storage software company. They connected immediately and wanted to find a way to work together.
The Storage of America Income Fund is structured to pay an 8% net annual return. "Net" means after fund expenses. Actual distributions depend on the fund's ability to meet its obligations and the offering terms. Returns and principal are subject to investment risk.
The fund's distribution schedule is monthly. Actual payments and their commencement are subject to the offering terms and the fund's ability to meet its obligations. Review the Offering Memorandum for details.
No investor management, performance, subscription, or redemption fees are charged. Costs of special services requested by an investor may apply under the Partnership Agreement, and separate SDIRA or other custodian fees may apply. Review the offering documents and any custodian fee schedule.
This offering is available only to investors who satisfy the applicable accredited-investor criteria and the fund's subscription requirements. Individuals, trusts, family offices, and other entities must meet the criteria applicable to their circumstances; an entity label alone does not establish eligibility. Review the Offering Memorandum and complete the required verification before investing.
The minimum investment is $100,000. Investors must meet the applicable accredited-investor criteria and subscription requirements. Contact our investor relations team for the current offering materials.
The fund makes loans to Storage of America and its affiliates and is backed by a corporate guarantee from Storage of America. Storage of America's operating portfolio has $250M+ in appraised value. A corporate guarantee depends on the guarantor's ability to meet its obligations and does not eliminate the risk of loss. An investment does not, by itself, give an investor a direct mortgage or lien over the portfolio. Review the offering documents for the guarantee's scope, investor rights, and any security interests. Storage of America has 23+ years of operating history, and Walker International Capital has 36+ years of real estate investment history. Robert Walker and his related entities have recorded zero loan defaults to date. Past performance is not indicative of future results.
The fund has an initial three-year lock-up period. Under the Partnership Agreement, the lock-up automatically renews for successive three-year periods unless the General Partner receives written notice of intent to withdraw no later than six months before the current period expires. The Partnership Agreement defines the applicable Opening Date. Repayment is subject to the agreement and investment risk, including possible loss of principal.
Moving, downsizing, household transitions, and business storage needs can create demand across different economic conditions. These demand drivers do not ensure stable occupancy or investment performance. Self-storage has consistently been one of real estate's top-performing asset classes since the 1960s and one of the most recession resistant. Trepp's February 2026 CMBS data shows office at 11.20%, multifamily at 6.85%, and retail at 6.30% delinquency — while self-storage posted just 0.05% in Trepp's July 2026 sector snapshot. Storage of America's specific competitive advantage is acquiring facilities well below replacement cost and operating at scale with proprietary technology infrastructure.
Complete the inquiry form on this page and our investor relations team will be in touch within one business day. We'll send you the full Offering Memorandum and schedule a call to answer any questions you have before making a decision.
Storage of America has recorded zero loan defaults to date over its 23+ year operating history. Founder and Principal Robert Walker and his related entities have also recorded zero loan defaults to date across more than 700 total property transactions, including Walker International Capital's 36+ year real estate investment history. Past performance is not indicative of future results.
Investors acquire Limited Partnership Interests in the SOA Income Fund rather than shares in a publicly traded REIT. The fund lends to Storage of America and its affiliates for the purposes permitted by the offering documents, including acquisitions, development, refinancing, investments in publicly traded REITs below net asset value, and general corporate purposes. Investors do not acquire a direct mortgage interest merely by subscribing. The fund is structured to pay an 8% net annual return. Performance remains exposed to credit, liquidity, and real estate market risks.
The initial three-year lock-up automatically renews for another three years unless the General Partner receives written notice of intent to withdraw no later than six months before the current lock-up expires. The same notice rule applies to later renewal periods. Any repayment of the investor's capital-account balance and final distribution remains subject to the Partnership Agreement and the fund's ability to meet its obligations. Repayment is not assured, and investors may lose principal. Contact Chris Bada at CBada@StorageofAmerica.com for the current offering documents.
After the first 12 months, investors may submit a written early-redemption request with at least three months' advance notice. The General Partner may approve or decline the request in its sole discretion, subject to liquidity, available capital, and the offering terms. Investors should not assume early redemption will be available. This process is separate from the six-month notice required to avoid automatic renewal at the end of a lock-up period.
The fund is structured to pay an 8% net annual return. Enter an amount to illustrate that rate over a full year and in equal monthly amounts. This is arithmetic, not a forecast of actual payments.
Our investor relations team is happy to answer your questions before you commit to anything. Schedule a quick intro call with Chris Bada, VP of Investor Relations, to discuss the fund structure, your investment objectives, or anything else on your mind.
Chris works directly with prospective investors to walk through the offering, answer structural questions, and help determine if the fund is the right fit for your portfolio. No sales pressure — just a straightforward conversation.
A focused conversation — no lengthy pitch, no obligation.
Fund structure, security, minimums, distributions — all on the table.
We only work with investors who are a good fit. This is a discovery call, not a close.
Individuals, family offices, trusts, and advisory firms are all welcome.
Complete the form below and we'll send you the full Offering Memorandum and connect you with our investor relations team. This offering is available to accredited investors only.
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