GSP III, LLC

Other real estate
Rule 506(c)
Downingtown, Pennsylvania
Amended Oct 21, 2026

Raising: $25,000,000
Sold so far: $12,659,111; 51% sold
Investors: 156
Average check: $81,148; Sold ÷ investors
Minimum: None stated
Sales commissions: $0; Issuer's estimate

In plain English

GSP III, LLC, a real estate business based in Downingtown, Pennsylvania, filed an amended Form D with the SEC on Oct 21, 2026 to raise $25 million. It reports about $12.7 million raised from 156 investors, 51% of its target. That works out to roughly $81,000 per investor. It didn't state a minimum investment.

It filed under Rule 506(c), which means it can advertise the offering publicly, but only accredited investors can buy in, and the issuer has to check that they qualify.

How it compares

Against the 594 real estate offerings filed Oct 6 – Nov 4, 2026.

This offeringMedian

Raise size$25M vs $7.7M median

Larger than 70% of the 460 offerings that set a size.

How much is sold51% sold vs 50% median

Further along than 50% of the 460 offerings with a set size.

Minimum investmentNone stated vs $50,000 median

167 of the 594 offerings didn't state one either.

Where the sponsor is based

The Pennsylvania housing market

Typical home value $287KChange, 12 months 2.2%

Form D lists the issuer's principal place of business, not where its properties are. Home values for Sep 2026.

See Pennsylvania market data

Filing details

File number: 021-493290
Latest filing: Form D/A (amendment), Oct 21, 2026
Accession number: 0001993662-26-000002
Entity type: Limited Liability Company
Industry group: Other Real Estate
Principal place of business: Downingtown, Pennsylvania
Exemption claimed: Rule 506(c)
First sale: May 8, 2023

Timeline

First sale
May 8, 2023
Latest amendment (Form D/A) filed
Oct 21, 2026
$12.7M sold (51% of the target)
As reported Oct 21, 2026

Other recent filings from Pennsylvania

All fund filings

This page summarizes a notice GSP III, LLC filed with the SEC. Fidelis First is not affiliated with GSP III, LLC, has not reviewed this offering and does not recommend it. Nothing here is an offer to sell or a solicitation of an offer to buy any security. Figures are as the issuer reported them on Oct 21, 2026 and may have changed since.

Sales commissions are the issuer's estimate for the whole offering, not amounts paid so far. Average check is derived: amount sold divided by number of investors. Issuers don't have to amend a Form D when sales or investor counts change, so these can lag.

Source: SEC EDGAR, Form D · As of Oct 21, 2026

Source: Data Provided by Zillow Group · As of Sep 2026