NEW YORK, Dec. 12, 2016 /PRNewswire/ -- Bluerock Value Exchange ("BVEX") announced today the sellout of its latest 1031 exchange program, BR Beach House, DST, a Class A, 228-unit, apartment community (the "Property") located in Jacksonville Beach, Florida. BVEX reports that the securities offering was fully subscribed for more than $21 million in capital. The Property was made available exclusively to accredited clients seeking to complete a 1031 exchange as well as those wanting to make direct cash investments.
Completed in 2009, the Property is a highly amenitized class A apartment community in a strong and growing economic metro, located approximately one mile from one of Florida's most desirable beaches. The Property benefits from its location in a mixed-use beach community and, in keeping with the value creation strategy of BVEX, offers steady cash flow with significant upside in rents, which are approximately 30% less than its closest competitor.
"Bluerock Value Exchange was formed to deliver high quality class A 1031 replacement properties that seek to deliver attractive current cash flow, along with value creation to grow the investors capital. Among independent broker-dealers, there's an active need for such properties from established sponsors with a proven performance record, which we are looking to fill," said Ramin Kamfar, founder and CEO of Bluerock Real Estate, BVEX's parent company.
The Property is a best-in-class development consisting of 14, two and three-story residential buildings on approximately 11.4 acres. The community offers one-, two-, and three-bedroom floor plans averaging 1,178 square feet and features high-quality construction as well as an abundance of attractive, modern amenities including courtyard and golf course views, fitness center and cardio room, controlled access entry, business center/wi-fi area, outdoor fireplace, barbecue grills, media/billiards room, resident lounge with bar area, a resort-style swimming pool, and attached garages on select units. It is located within walking and biking distance to Jacksonville Beach and numerous shops and restaurants.
About Bluerock Value Exchange
BVEX is a national sponsor of syndicated 1031 exchange offerings with a focus on class A assets that can deliver stable cash flows and with the potential for value creation. Bluerock has structured 1031 exchanges on over $750 million in total acquisition cost and nearly 6.0 million square feet of property. With capacity across nearly all real estate sectors and the ability customize transactions for individual investors, BVEX is available to create programs to accommodate a wide range of tax requirements. To learn more, please visit BVEX's website at www.bluerockexchange.com.
About Bluerock Real Estate
Bluerock is a national real estate investment firm founded to provide smart institutional investments, such as Delaware statutory trust ("DST") 1031 exchange replacement properties, to accredited investors. Bluerock principals have over 100 years aggregate experience and have transacted on over 30 million square feet and $10 billion in acquisitions, primarily on behalf of leading U.S. institutional investors. Bluerock's current portfolio consists of more than 15 million square feet of multifamily, office and retail properties with over $2.5 billion of managed assets across the United States.
BR Beach House, DST is a closed investment program; not open to new investment.
This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. the securities discussed herein are now unavailable for purchase from the issuer. Should an investor consider purchasing any securities, they should refer to the terms of that security's confidential Private Placement Memorandum or similar offering document, paying careful attention to the risks associated with such security. The investor should also fully investigate the security and speak with its attorney and/or Certified Public Accountant or other knowledgeable professionals. Other securities may have terms which differ materially from the security discussed herein.
There are material risks associated with investing in real estate, DST and 1031 exchange properties. These include, but are not limited to, tenant vacancies; declining market values; potential loss of entire investment principal; that past performance is not a guarantee of future results; that potential cash flow, potential returns, and potential appreciation are not guaranteed in any way; adverse tax consequences and that real estate is typically an illiquid investment.
IRC Section 1031, IRC Section 1033, and IRC Section 721 are complex tax codes; therefore, you should consult your tax and legal professional for details regarding your situation.
Securities were offered through registered representatives of Bluerock Capital Markets LLC, a Massachusetts limited liability company, a member of the Financial Industry Regulatory Agency ("FINRA") and an affiliate of the BVEX, who served as Managing Broker-Dealer for the offering and on a "best efforts" basis through the broker-dealers participating in the offering, who are also members of FINRA.
© 2016 BLUEROCK REAL ESTATE, L.L.C. ALL RIGHTS RESERVED.
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SOURCE Bluerock Real Estate