Veritas Closes the Door on New Money for Storage Units Income Fund II — Deadline Dec. 31

Veritas says Fund II stops taking new investors on Dec. 31, per PR Newswire

Veritas Group announced on Dec. 18 via a PR Newswire release that it will stop accepting new investments into Storage Units Income Fund II after Dec. 31. The short notice closes the subscription window for new commitments and signals that the manager is either at or near its fundraising target for this vehicle. The announcement directed prospective investors to the firm for the offering details and next steps.

What the fund is aiming to do: a focus on self-storage plus multifamily

According to the announcement, Storage Units Income Fund II is built around a mix of self-storage properties and complementary multifamily exposure. That combination is common: self-storage offers steady cash flow and low operating complexity, while multifamily can deliver higher rental growth over time.

The PR release described the fund’s strategy in general terms — targeting stabilized income-producing assets and select value-add plays — but did not present detailed public terms such as a firm minimum investment amount, a specific target return, or an exact hold-period schedule in the text of the release. Those specifics traditionally live in the private placement memorandum and subscription documents that the manager provides to qualified investors.

Practical features investors can expect from a vehicle like this include periodic cash distributions driven by property income, an explicit capital-deployment window (often 12–36 months) and an overall investment horizon measured in years rather than months. Fund II appears to follow that playbook; the Dec. 31 cut-off simply ends the window for new capital to be accepted.

What the Dec. 31 close means for prospective and current investors

For prospects, the closing date is a hard deadline: if Veritas reaches final commitments by that date, the fund will stop taking new subscriptions and begin deploying the capital it has. Prospective investors who haven’t yet committed will lose the chance to enter Fund II at the posted terms.

Existing investors are largely unaffected operationally — the fund still holds and manages assets as planned. For both groups, a close can mean faster deployment of capital into deals, which may shorten the time to first distributions. For those who miss the window, their options are limited to waiting for a future fund, seeking a secondary sale of an interest on the aftermarket, or pursuing other managers.

Why this matters now: what’s happening in self-storage and multifamily investing

Self-storage is routinely called a defensive real-estate sector. It tends to hold up well in slower economic times because demand comes from life events such as moves, downsizing and small-business needs. The asset class also has low operating costs relative to other commercial types, which helps cash flow.

Multifamily has a different profile: rents can climb quickly in tight housing markets, but the sector is more sensitive to financing costs and supply growth. In a higher-rate environment, cap rates tend to move up and valuations adjust, which can slow new buying unless managers can find yield-accretive deals.

For private funds, the broader fundraising climate matters. Managers often close vehicles when they have enough committed capital to pursue their stated strategy without stretching returns by over-raising. Closing can be a defensive move to preserve discipline: fewer late-stage investors can mean cleaner deployment decisions and better alignment with early backers.

Veritas Group: what investors should know about the manager

Veritas Group is a private real-asset manager that has used a fund structure to build concentrated portfolios in storage and related property types. Storage Units Income Fund II follows at least one prior fund in the same strategy family. The firm pitches itself on sourcing regional assets and active asset management rather than index-like exposures.

Public performance details for private funds are limited, but Veritas’s repeat-fund activity and continued fundraising suggest it has maintained enough investor support to launch consecutive vehicles.

What interested investors should do next — deadlines, alternatives and qualification notes

If you were planning to subscribe, treat Dec. 31 as the last practical day to get documentation and commit capital. The PR release points prospective investors to Veritas’s investor relations for the offering memorandum and subscription instructions. If the fund is closed, options include waiting for the manager’s next vehicle, looking for secondary-market listings of existing fund stakes, or moving to public alternatives.

Public alternatives that track these sectors include self-storage REITs like Public Storage (PSA) and Extra Space Storage (EXR), and multifamily-focused REITs such as Equity Residential (EQR) or AvalonBay Communities (AVB). For investors who prefer private vehicles, comparable managers and niche funds remain active, but many of them also close quickly when they hit targets.

Finally, these vehicles are typically offered to accredited or qualified purchasers under private placement rules. If you aren’t sure of your qualification status, Veritas’s subscription documents will spell out eligibility criteria and any investor suitability requirements.

Sources

• prnewswire.com