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Ardent Cos. has launched its latest investment vehicle, Self-Storage Development Fund III, which is aiming to raise $150 million of capital.

The Atlanta Firm will use proceeds from the fund to develop self-storage properties in high-demand, supply-constrained markets throughout the country. It already has a development pipeline with 11 sites totaling 1 million rentable square feet in markets that include Hoboken, N.J., Long Island, N.Y., and Boston.

The latest fund is a follow up to Ardent Self Storage Development Fund II and I, which were launched in 2023 and 2019, respectively. Together, the two raised $170 million of capital that was deployed for the construction of 16 properties.