Bridgeview Launches $27 Million Student Housing DST Offering
Bridgeview Real Estate, a Delaware statutory trust sponsor company and developer, has begun marketing a $27.2 million DST offering comprised of two student housing projects at Texas Christian University and University of Texas at Arlington.
The BV Student Housing Texas Portfolio DST consists of the 55-unit Liberty Lofts at 3517 S. University Dr. in Fort Worth, which is currently master-leased to TCU; and the 70-unit Midtown Urban at 1121 UTA Blvd., in Arlington. The DST, which completed its initial sale in January 2024, raised approximately 30% of the fund’s targeted equity raise prior to its public launch this month. Minimum investment for accredited 1031 exchange investors is $100,000, while cash investors may invest for $50,000.
“The decision to create a student housing DST was predicated on the lack of supply for this asset class in the investment market’s current environment,” says Ross Curtis, vice president of sales for BV Securities, one of Dallas-based Bridgeview’s integrated companies, and the managing broker-dealer for its DST offerings.
TCU, like many top universities according to Bridgeview, experiences strong enrollment growth and a housing shortfall year after year, which initially led to a partial lease with Bridgeview and then a long-term master lease. At UTA, there are roughly 11,000 beds on or near campus for 41,000 students, resulting in Midtown Urban’s continued rent growth and occupancy.
“The strong attraction is the absence of student housing construction at TCU and UTA, both of which have high barriers to entry,” Curtis emphasizes. “Bridgeview’s DST clearly is off to a great start.”
Bridgeview acquired the Class A student housing projects during the COVID pandemic, eyeing the upside in their locations and historically high occupancies due to rising enrollments. TCU’s master lease for the entire project runs through mid-summer 2028 while the privately managed Midtown Urban is consistently 96% occupied.
Liberty Lofts was developed in 2009 on 3.61 acres on the TCU campus. Each three-bedroom, three-bath unit totals 1,200 square feet. It was fully renovated in 2022, with upgrades including covered parking and an expanded clubhouse with private study rooms for group projects.
Midtown Urban was completed in 2011 on 3.23 acres near UTA’s football stadium and within walking distance of the campus. The unit mix of two-, three-, and four-bedroom designs are 878 square feet, 1,200 square feet and 1,492 square feet, respectively.
According to Bridgeview, Texas is a prime market for DST investment because of its business-friendly laws and income tax-free status.
“Student housing is similar to multifamily, which was Bridgeview’s inroad to the DST market,” said Rob Anderson, president of BV Capital, a Bridgeview company. “It’s the same concept, just a more concentrated customer base with constant demand year over year.”
Bridgeview Real Estate is a member of the Bridgeview family of companies based in Dallas. Founded in 2011, Bridgeview is a private real estate development and investment company. Bridgeview distributes its DST offerings through BV Securities, its captive managing broker-dealer.
Click here to visit The DI Wire directory page.
