Offering reaches full subscription
Bluerock Value Exchange said in a Nov. 10 announcement that accredited investors had committed $39.4 million in equity to BR Parkview Multifamily, DST, completing subscription of the offering. The investment program centers on a 264-unit apartment community in Georgia’s Gwinnett County, within metropolitan Atlanta. Bluerock Value Exchange Fully Subscribes $39.4 Million 1031 Exchange BR Parkview Multifamily DST in
The sponsor described Parkview as recently built Class A housing and put the offering’s property value at about $78 million, including loan proceeds. The announcement marks completion of the equity fundraising for the Delaware Statutory Trust program, rather than identifying a new property sale or a loan closing. Bluerock Value Exchange Fully Subscribes $39.4 Million 1031 Exchange BR Parkview Multifamily DST in
For investors, the program includes several potential exit routes after the trust’s holding period, according to Bluerock. Owners of beneficial interests may contribute them to an operating partnership through a tax-deferred 721 UPREIT exchange, take cash and pursue another 1031 exchange, or receive a taxable cash payment. Bluerock Value Exchange Fully Subscribes $39.4 Million 1031 Exchange BR Parkview Multifamily DST in
Bluerock said the trust seeks monthly distributions and potential appreciation. Those are investment objectives, rather than reported operating results for Parkview. The Basis analysis: The exit alternatives make the eventual disposition of investors’ interests a material part of the offering’s structure, alongside its exposure to a single Atlanta-area apartment property. Bluerock Value Exchange Fully Subscribes $39.4 Million 1031 Exchange BR Parkview Multifamily DST in
Parkview is the sponsor’s 47th DST program. With this offering completed, Bluerock said its structured 1031-exchange investments represented more than $3.6 billion in aggregate property value. Bluerock Value Exchange Fully Subscribes $39.4 Million 1031 Exchange BR Parkview Multifamily DST in
