NEW YORK, Aug. 15, 2017 /PRNewswire/ -- Bluerock Value Exchange ("BVEX") announced today the sellout of its latest 1031 exchange program, BR Big Creek, DST, a Class A, 372-unit, apartment community ("the property") located in Alpharetta, Georgia. The securities offering was fully subscribed for more than $35 million in capital.
Completed in 2016, Big Creek is a class A apartment community in the affluent, high growth, mixed-use neighborhood of Alpharetta in Atlanta, GA. In keeping with the value creation strategy of BVEX, the property offers steady cash flow with upside potential in rents.
"Bluerock Value Exchange concentrates solely on acquiring high-quality, Class A 1031 replacement properties with potential to deliver attractive current cash flow and grow investor capital. There's significant need, particularly among independent broker dealers, for high-caliber replacement properties from established sponsors with proven performance records, and we are meeting this demand," said Ramin Kamfar, founder and CEO of Bluerock Real Estate, BVEX's parent company.
Big Creek is considered a best-in-class development, comprising nine, three-story residential buildings on 20 acres. The community offers one-, two-, and three-bedroom floor plans averaging 1,025 square feet and features high-quality construction as well as upscale amenities including fitness center, theatre, media/billiards room, outdoor fireplace and resort-style swimming pool. It is within walking and biking distance to the Big Creek Greenway and adjacent to Halcyon, a $370 million, mixed-use project that will include a theatre, hotels, offices and high-end townhomes as well as 50+ acres of greenspace and a trailhead to the 9.6 mile Big Creek Greenway.
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 $800 million in total acquisition cost and nearly 6.5 million square feet of property. With capacity across nearly all real estate sectors and the ability to 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 $4.0 billion of managed assets across the United States.
BR Big Creek, 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 an 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.