Wichita Self Storage is a 691-unit, 100% climate-controlled ground-up development in one of the most undersupplied self-storage submarkets in the Midwest. Hearthfire is opening a limited number of strategy calls for investors ready to move before the offering closes.
1 Aerial view of Wichita Self-Storage, a two-building, 100% climate-controlled development operated by Extra Space Storage. Renderings are conceptual and subject to change.
2 Street-level rendering of Wichita Self-Storage, operated by Extra Space Storage. Renderings are conceptual and subject to change.
25% Average IRR Across 9 Exits · 26 Assets in 10 States · $200M+ Total AUM · Founded by Sergio & Corinn Altomare in 2012
Why Wichita, Why Now
A Market With Real Demand Behind It
Wichita ranks #1 out of 387 U.S. metros for aerospace and defense manufacturing investment, anchored by Boeing and Spirit AeroSystems' reintegration — supporting more than 65,000 jobs and $24B in annual regional output. That's a specific, sourced growth story, and it's the demand driver behind a trade area with $88,514 median household income against a $64,620 city median.
The self-storage supply hasn't caught up. The 3-mile trade area sits at just 3.1 square feet of climate-controlled storage per capita, and there are no facilities currently under construction within the 5-mile radius.
The Offering at a Glance
18.4%
Target LP IRR (26% AAR)
2.30x
Target Equity Multiple
10%
Preferred Return
5-Year
Hold Period
$50,000
Minimum Investment
100%
Year 1 (2028) Depreciation
14th
HeartHfire asset in the region
5th
development in the midwest
Overall Business Plan
1
Entitlements & Construction
Site plan and all municipal approvals are secured from the City of Wichita. Two 2-story, 100% climate-controlled buildings on a 2.42-acre infill site, with construction running from Q4 2026 through Q1 2028.
2
Lease-Up With Extra Space
Extra Space Storage — the largest self-storage operator in the U.S. — provides third-party management, operational support, and revenue optimization, targeting 92% stabilized occupancy by Year 4.
3
Optimize Revenue Through Rate Growth
Market-based rate adjustments and continued lease-up momentum, supported by household incomes running well above the city median and a supply gap that favors pricing power.
4
Stabilization & Exit
Targeting a Year 5 disposition at a 6.00% exit cap against a ~$19.6M underwritten valuation, distributing quarterly yield to LPs (8.6% cash-on-cash by Year 5) and marketing to institutional and 1031 buyers — delivering an 18.4% net LP IRR and 2.30x equity multiple.
Investing in Wichita Self Storage delivers substantial tax benefits starting in 2028, the year the facility is slated for completion. Investors are eligible for 100% bonus depreciation that year under current tax law — approximately $4.6M in Year 1 depreciation, roughly 100% of invested LP equity. All depreciation benefits pass through directly to Limited Partners.
Sample Investment
$460,000
Returned on $200,000 (2.30x)
~$200,000
Year 1 (2028) Depreciation
Illustrative only, at the offering's $50,000 minimum increments.
Why Investors Choose Hearthfire
A track record since 2012, and an investor experience that matches the caliber of the deal.
25%
Average IRR (9 Exits)
26
Assets Across 10 States
320
Investors
$200M+
Total AUM
Effortless Onboarding
Subscribe, sign, and fund in minutes through our secure investor portal, powered by Agora.
Fast, Secure Funding
Fund your investment and receive distributions through a direct, secure connection to your bank account.
White-Glove Support
A dedicated investor relations team, not a support queue.
Quarterly Investor Updates
Institutional-grade reporting on distributions, project milestones, and financials, every quarter.
Once you're in, everything runs through Agora — our investor portal for e-signing documents, funding your investment, and tracking quarterly reports in one place.
Book a 15-minute strategy call with our Senior Director of Investor Relations, Jordan Canino. He'll walk you through the full deck, answer your questions, and help you figure out if this deal fits your portfolio — no pressure, no obligation.
Who can invest?
This offering is open to accredited investors only. The $50,000 minimum can be met individually or through an LLC, trust, 1031 exchange, or self-directed IRA/401(k).
How does the tax benefit work?
Investors are eligible for 100% bonus depreciation in 2028, the year the facility is slated for completion, passed through directly to LPs.
Who is Extra Space Storage?
The largest self-storage operator in the U.S., managing roughly 4,000 facilities nationwide, with a revenue management system that has outperformed industry same-store growth averages for over a decade.
Let's Talk Through the Opportunity
The offering closes Friday, October 23, and investors who fund early may be eligible for enhanced returns — ask Jordan for the details on your call.
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