Bluerock Value Exchange, a national sponsor of syndicated 1031-exchange offerings, has appointed Josh Hoffman as president.
Hoffman, who joined Bluerock in 2009, will be responsible for oversight of the company’s investment programs, including product structuring, marketing, servicing and brand promotion. He will continue to serve as managing director, head of due diligence and marketing for Bluerock and its suite of private and public alternative investment products.
“Bluerock Value Exchange placed among the top 6 industry sponsors of 1031 exchange investment programs in 2017, with close to 30 percent sales growth over the prior year,” Hoffman said. “We are on a trajectory for even stronger growth in 2018 with planned expansions of our acquisition, sales, and investor support platforms to accommodate and we are seeing tremendous and consistent demand from advisors.”
Hoffman has more than 14 years of experience working in partnership with the independent broker-dealer community. Over the course of his career, he has completed more than 65 sponsored 1031 like-kind exchange security offering programs representing more than $1.4 billion in property value and more than 7.8 million square feet, the company said.
He earned a bachelor’s degree in business management from Boise State University and holds FINRA Series 7, and 63 licenses.
In other Bluerock news, the company’s managing broker-dealer, Bluerock Capital Markets, reported that it was ranked among the direct investment industry’s top 4 sponsors in 2017 with more than $650 million of new capital raised. Capital raised for its direct investment product suite grew by 60 percent in 2017, following a 160 percent increase in 2016, the company said.
Bluerock Value Exchange invests primarily in highly-amenitized multifamily apartments in growth markets throughout the US and has structured 1031 exchanges on $1.4 billion in total property value and more than 7.5 million square feet of property. Bluerock’s other sponsored products include Total Income+ Real Estate Fund and Bluerock Residential Growth REIT. Bluerock Real Estate is headquartered in Manhattan and has more than $4.5 billion in assets under management.