Bluerock Value Exchange LLC, a national sponsor of syndicated 1031 exchange offerings, has fully subscribed its offering of BR Grand at Westside DST, a 336-unit Class A multifamily community located in the Orlando suburb of Kissimmee, Florida.
The offering, which was available to accredited investors seeking to complete a 1031 exchange as well as to those wanting to make direct cash investments, was fully subscribed for nearly $33 million in less than 90 days, the company said.
“The Grand at Westside fits seamlessly in the Bluerock Value Exchange portfolio,” said Josh Hoffman, president of Bluerock Value Exchange. “The property is newer construction, offers easy access to Walt Disney and other area theme parks along with other major employers, and benefits from Osceola County’s explosive population growth, providing an opportunity for built-in value creation for our investors.”
Completed in 2016, Grand at Westside sits on 19 acres and consists of 14 three-story residential buildings with one-, two-, three-, and four-bedroom units. Property amenities include a pool with LED lighting, a summer kitchen and bar, a covered gazebo, putting green, pet park, 24-hour fitness center.
Bluerock Value Exchange has structured 1031 exchanges on more than $1.2 billion in total acquisition cost and 8 million square feet of property.