Bluerock Value Exchange Seeks $66 Million Capital Raise With Multifamily Tampa DST
Bluerock Value Exchange, a national sponsor of 1031 exchange and Delaware statutory trust investment programs, recently launched BR Amira, DST, which is seeking to raise approximately $66 million from accredited investors.
The offering provides an investment opportunity in a newly renovated, Class A apartment community in the Tampa, Fla., metro, a high economic growth epicenter. The property is located adjacent to the Tampa International Airport with immediate access to major thoroughfares and everyday essential retail amenities, walkability to nearby employment centers providing nearly 200,000 jobs, and minutes to the beach.
“We selected Amira due to its superb, high growth location, attractive demographic profile, and infill barriers to new apartment competition which we believe will create tremendous opportunities for our investors,” said Josh Hoffman, president of Bluerock Value Exchange.
BR Amira DST seeks to provide its investors with monthly cashflow and the potential for capital appreciation driven by rising rents, according to Bluerock Value Exchange, which they say will be supported by the forecasted continued high job and population growth within the area. The DST program secured non-recourse financing from Fannie Mae at the rate of 4.81%. According to the company, this leverage provides investors with a moderate loan-to-capitalization of approximately 46% for investors seeking debt replacement as part of their 1031 exchange.
“We believe this is a very timely and favorable entry point for investing in apartments. The sector is poised to greatly benefit with forecasted increasing rents driven by a significant undersupply of new housing options, the high cost of home ownership compared to renting, which is currently at its widest gap on record, and continued high household formation,” added Hoffman.
In October of this year, the company launched BR Diversified Industrial Portfolio IV DST, its 37th individual DST program and fourth sequential industrial-focused DST. That investment opportunity – a three-property portfolio across South Carolina and Tennessee – aims to fully subscribe with an approximate $31.6 million capital raise.
Bluerock Value Exchange is a national sponsor of syndicated 1031-exchange offerings with a focus on premier exchange properties that seek to deliver stable cash flows and potential for value creation. Bluerock has structured 1031 exchanges of more than $2.6 billion in total property value and 13.7 million square feet of property.
Bluerock is an alternative asset manager based in New York and with offices across the nation. Bluerock has more than $18.7 billion in acquired and managed assets and offers a complementary suite of public and private investment programs, with both short and long-term goals, to individual investors seeking solutions aimed at providing predictable income, capital growth, and tax benefits.
For more Bluerock news, click here to visit their directory page.
