Institutional Class A-1 access to a $25M+ diversified storage, industrial & MHP fund — 18 properties across 11 states. Graded B, 23/30: institutional entry, conservatively scored.
Reserving is non-binding — it holds your spot and starts a conversation.
You buy in at the same price investors paid in 2024 — before any of this was built. Today the portfolio is bought, operating, and distributing cash, and it grows to roughly 19–20 properties across 11 states, ~$70M cost basis, at full build-out. Much of the early build risk is behind it — and we believe meaningful upside still lies ahead.
Ocean Ridge pooled capital past the fund's $5M institutional threshold to earn Class A-1 terms — a bigger share of profits than retail — locked at the original 2024 price in a side letter, after three weeks inside the operator's books.
Move the slider and choose a scenario. Below $250K applies Investor Class terms (85/15, 2% diligence); at $250K and above, Anchor Class unlocks automatically (90/10, 1% diligence). Both earn an 8% preferred. Figures use ORC's target modeling, net of all fees. Illustrative only — targets are not guarantees.
~3.2-year hold to Dec 2029 · 8% preferred return · 85% of profits above the preferred to investors. Your preferred return accrues daily from funding. The fund pays its preferred queue oldest-dollar-first (confirmed in writing by the sponsor, August 2026); first cash distributions land around mid-2027, and your full accrued balance is cleared at the first staged sale in December 2028, ahead of any Ocean Ridge profit share.
Net of all fees at both the operator and ORC levels. Estimated, not guaranteed. Private real estate is speculative, illiquid, and can lose value. For accredited investors only.
Self-storage, small-bay industrial, and manufactured housing across 11 states — roughly 60% in supply-constrained New England, where new construction is scarce.
14 cards, all 18 properties — multi-property assets share a card. Tap any for its status and business plan.
Any single failure stops the deal. Six clear; one is qualified as the ramp completes.
| Criterion | Actual | Threshold | Status |
|---|---|---|---|
| Entry Basis vs Value | 2024 price; ~17% appraised | At/below market | Clear |
| Proforma Rents vs Market | Rents at/below market | UW realism | Clear |
| Loan-to-Cost | ~60% at full deployment | < 75% | Clear |
| Debt Structure | 15 of 16 fixed; 1 floating bridge (Medfield), refi in process | No uncapped float | Qualified |
| DSCR | 1.29x forward, rising | > 1.25x | Clear |
| Break-Even Occupancy | ~72% vs 85% current | < 85% | Clear |
| Sponsor Background | No adverse findings | Clean record | Clear |
6 of 7 clear, 1 qualified: coverage crosses threshold as the ramp completes.
Zero new supply: no storage construction in trade areas, no MHP permits, undersupplied small-bay. Tertiary demand ceilings cap the score.
18 years, $435M platform, vertically integrated. Fund I full cycle 19.7–24.4% net. Exceptional diligence transparency.
2024 price vs ~17% appraised (April 2026), below replacement. 18 months of actuals replace blind-pool risk.
6.98% blended today, falling toward low-6% as the last bridge converts; maturities 2030–2051, no wall inside hold. Coverage 1.29x forward and rising; pref partially reserve-funded during ramp.
17.0% base net with ~7.2% avg annual cash during hold. The 1.60x multiple is the deliberate trade of a ~3-year clock: capital back fast, redeployable, at a high IRR.
6.7% modeled cap, 7.0–7.4% conservative. Basis cushions expansion. Assets trading early at premiums. Extension manager-controlled.
Your economics stack in two layers. You hold a partnership interest with Ocean Ridge; Ocean Ridge in turn holds institutional Class A-1 units inside Patriot's fund. The underlying fund waterfall below is shown only for transparency — it is already netted out of every return figure on this page, along with all sponsor-level fees. Two layers, not a contradiction.
| Annual Preferred Return | 8% |
| Profits to Investors Above Preferred | 85%* |
| Due Diligence Fee (one-time) | 2% |
| Fund Management | 0.5% annually |
Ocean Ridge invests its own capital in this vehicle — Investor Class, same terms as you — and earns nothing above its fee until you've received your capital back plus your full 8% preferred.
| Underlying Share Class | Class A-1 ($5M institutional) |
| Fund Preferred Return | 8% |
| Fund Waterfall Above Preferred | 80% of profit up to a 15% return, then 50% of profit above |
All returns are net of all fees at both the Patriot and Ocean Ridge levels; A-1 terms confirmed for the ORC vehicle (2024–25 retail investors received Class A-2). *Enhanced allocation terms available at $250,000 and above.
A partnership run by Ocean Ridge that holds an institutional-class allocation in Patriot Fund V. The fund owns the 18 properties; our partnership owns institutional units in the fund; you own an interest in our partnership. One subscription, one K-1 from us, and every return figure on this page is net of both layers of fees.
Direct retail investors get a 70/30 profit split. Through this vehicle you hold institutional terms (80% of profit up to a 15% return, then 50% of profit above) at 2024 pricing, plus ORC's diligence layer and our own capital in the deal.
ORC's allocation was reserved before the close under the fund's approved-group provisions and documented in a side letter. The vehicle's funding window runs through October 15.
It accrues daily and is never forfeited. The balance doesn't compound; it's simple 8% on your capital, tracked to the dollar. The fund pays its preferred queue oldest dollar first (confirmed with the sponsor in writing, August 2026), and accrued preferred plus return of capital come ahead of any profit split at either layer when assets sell. The fund carries an accrued balance from its ramp-up that's being paid down as operations build; our base case models it, including the catch-up timing.
15 of 16 loans are fixed. One floating bridge on Medfield (99.7% leased) matures February 2027 with its permanent refinance in process. A $450K seller second balloons October 2028 with an extension available. Roughly $14M comes due in 2030, which only matters if assets are still held past the sponsor's plan. Everything else runs to 2035 and beyond.
Quarterly distributions are running now. Expect roughly two quiet quarters after funding, then a lumpy rhythm of distributions plus catch-ups as assets sell. The sponsor targets staged sales through 2029; we model a conservative tail to Dec 2031. This is not a liquid investment — plan on holding to the wind-down. If you may need this capital before 2031, this is not the right vehicle for it.
Indicate your interest in Patriot Fund V. Minimum $50,000 · Accredited investors only · Non-binding. Allocation capped at $2M · Final close October 15, 2026.
Reserving is non-binding — it holds your spot and starts a conversation.
This document is ORC's proprietary diligence analysis for informational purposes only and does not constitute an offer to sell or solicitation to buy any security. Prepared to the best of ORC's knowledge based on information provided by the operator and third-party sources believed to be reliable. ORC has not independently verified all such data and makes no representation or warranty as to its accuracy or completeness. Investors should conduct their own due diligence. All estimated returns reflect ORC's independent modeling, are net of all fees at both operator and ORC levels, and are not guarantees. Past performance is not indicative of future results.
Investments in private real estate are speculative, illiquid, and involve the risk of total loss. The reservation form is non-binding. Securities offerings made exclusively through ORC's offering memorandum. Minimum: $50,000. For accredited investors under SEC Regulation D.
