Bluerock Value Exchange Subscribes Multifamily 1031 Exchange Offering in 40 Days
Bluerock Value Exchange, a national sponsor of syndicated 1031 exchange offerings, has fully subscribed its latest 1031 exchange program, BR Grand Dominion DST, a Class A, 320-unit, multifamily community located in San Antonio, Texas.
Bluerock Value Exchange, a national sponsor of syndicated 1031 exchange offerings, has fully subscribed its latest 1031 exchange program, BR Grand Dominion DST, a Class A, 320-unit, multifamily community located in San Antonio, Texas.
Bluerock Value Exchange, an affiliate of Bluerock Real Estate, reports that the Delaware statutory trust offering was fully subscribed for more than $23 million in capital in approximately 40 days. The property was made available to accredited clients seeking to complete a 1031 exchange, as well as those wanting to make direct cash investments.
“Bluerock Value Exchange, which has structured 1031 exchanges on more than 7.5 million square feet of property, was formed to deliver high quality, Class A 1031 replacement properties with the capacity for attractive current cash flow, and future value creation,” said Josh Hoffman, president of BVEX.
Completed in 2015, Grand Dominion consists of 16, two- and three-story residential buildings on approximately 21.3 acres. The community offers one-, two-, and three-bedroom floor plans averaging 1,018 square feet. Property amenities include a resort-style swimming pool with cabanas, outdoor fireplace, theater, indoor golf simulator, billiards, business center, fitness center, and multi-story clubhouse.
The property is located within The Dominion, an exclusive country club and one of San Antonio’s most affluent markets. The average household income within a one-mile radius is $190,732 and the average single-family home price in the immediate area is approximately $640,000.
In related news, The DI Wire reported that Bluerock Value Exchange appointed Josh Hoffman as president earlier this month.
Bluerock Value Exchange invests primarily in highly-amenitized multifamily apartments in growth markets throughout the U.S. The company has structured 1031 exchanges on $1.1 billion in total property value and more than 7.5 million square feet of property.
For more Bluerock news, click here to visit their directory sponsor page.
