Bluerock Value Exchange Launches $37.8M Multifamily DST in North Carolina
Bluerock Value Exchange, a national sponsor of 1031 exchange and Delaware statutory trust investment programs, announced the launch of its latest 1031 exchange/DST offering known as BR Churchill Downs, DST. It seeks to raise approximately $37.8 million from accredited investors. The Churchill Downs multifamily offering represents Bluerock Value Exchange’s 42nd individual DST program.
Bluerock Value Exchange believes Churchill Downs represents an attractive investment opportunity in a unique low-density, direct-entry townhome and garden-style apartment community located in the Pinehurst, N.C., metro, which ranks in the top 10 among all small market regions in the United States.
The DST seeks to provide investors with monthly cash flow, the potential for appreciation driven by strong economic and population growth in the region, as well as the opportunity to significantly grow rental income through a targeted unit value-add/upgrade program.
“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 decline in new construction, which is leading to undersupply of housing options, the high cost of home ownership compared to renting, and continued high household formation,” said Josh Hoffman, president of Bluerock Value Exchange.
“We selected Churchill Downs due to its well-respected national metro recognition and high growth location and the value-add / upgrade investment opportunity, which we believe can generate a great return on investment for investors,” added Hoffman.
Recently, Bluerock Value Exchange announced it had fully subscribed BR Diversified Industrial Portfolio IV, DST. The DST, also known as DIP IV, raised $31.6 million in equity from third-party investors. The unlevered DST offering includes a two state – South Carolina and Tennessee – three property, industrial sector portfolio comprised of approximately 200,000 square feet of combined warehouse and distribution properties which are 100% leased to four distinct mixed-use industrial tenants.
Earlier this year, according to AltsWire, Bluerock Value Exchange announced multiple special distributions to its investors totaling more than $1.5 million in supplemental rent across its current managed DST and 1031 exchange programs.
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 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.
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