Bluerock Value Exchange Fully Subscribes $66M Multifamily DST in Tampa
Bluerock Value Exchange, a national sponsor of 1031 exchange and Delaware statutory trust investment programs, has fully subscribed the $66 million offering of BR Amira, DST, which – including leverage – had a total purchase price of $122.7 million. Bluerock reported that it has sponsored more than $2.8 billion in full-cycle and on-going 1031 exchange programs.
Previously reported by AltsWire, the Amira DST launched in December 2024.
“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,” said Josh Hoffman, president of Bluerock Value Exchange.
According to the company, Amira represents an attractive investment opportunity in a newly renovated, class A apartment community in Tampa, Fla., a high economic and job 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,” added Hoffman.
Amira seeks to provide investors with monthly cashflow and the potential for capital appreciation driven by high forecasted rent growth and continued high job and population growth within the Tampa metro leading to strong renter demand. The DST program also provides investors with multiple options upon a future exit strategy event including 721 exchange (UPREIT) or subsequent 1031 exchange/cash out optionality.
Recently, Bluerock Value Exchange launched BR Diversified Industrial Portfolio 6, DST, or DIP 6. The DST is seeking to raise approximately $71 million from accredited investors and represents Bluerock Value Exchange’s 43rd individual DST program and sixth sequential industrial-focused DST program. Last month, the company fully subscribed BR Diversified Industrial Portfolio V, DST, also known as DIP V, after raising $36.7 million in equity from individual investors.
Bluerock Value Exchange is a national sponsor of syndicated 1031 exchange offerings with a focus on what it calls “premier exchange properties” that seek to deliver stable cash flows and potential for value creation. For two decades, Bluerock has structured 1031 exchanges of more than $2.8 billion in total property value and more than 14.9 million square feet of property.
Bluerock is an institutional alternative asset manager with more than $19 billion of acquired and managed assets headquartered in Manhattan with regional offices across the nation.
For more Bluerock news, click here to visit their directory page.
