GSP III, LLC is a real estate fund based in Downingtown, Pennsylvania. According to its most recent Form D, filed Oct 21, 2026, it has sold $12,659,111 of interests to 156 investors since its first sale in May 2023. The filing does not set a minimum investment. The offering uses Rule 506(c), which permits general advertising to investors verified as accredited. Based on its first sale date and the amount raised, AltMountain classifies it as an emerging manager. Related persons named in the filing include Ronald Lockhart; Wade Carroll.
- Total raised
- $12,659,111Cumulative sales reported on Form D
- Investors
- 156
- First sale
- May 8, 2023
- Minimum investment
- None set
- Who can invest
- Not stated
- Offering exemption
- Rule 506(c)May advertise; investors must be verified as accredited
- Key people and entities
- Ronald Lockhart; Wade Carroll
- Latest Form D
- Oct 21, 2026
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Returns are not part of SEC filings. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about GSP III, LLC
What is the minimum investment for GSP III, LLC?
GSP III, LLC's latest Form D, filed Oct 21, 2026, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in GSP III, LLC?
GSP III, LLC is generally open only to investors who meet the eligibility rules in its offering documents. It uses Rule 506(c), so it may advertise, but every investor must be verified as accredited.
How much has GSP III, LLC raised?
GSP III, LLC reports $12,659,111 sold from 156 investors on its Form D filed Oct 21, 2026. This is cumulative sales since the offering began, not current assets or performance.
Where is GSP III, LLC based?
GSP III, LLC is based in Downingtown, Pennsylvania.
When did GSP III, LLC launch?
GSP III, LLC reports its first sale in May 2023, which makes it an emerging manager by AltMountain's definition (first sale in 2021 or later and under $50 million raised).
Size compared with every real estate fund
Raised more than 85% of the 191 real estate funds based in Pennsylvania, and more than 82% of all 7,350 that report sales.