NEW YORK, Oct. 16, 2018 /PRNewswire/ -- Bluerock Value Exchange, LLC ("BVEX") announced today the successful completion of its offering of BR Grand at Westside, DST, a class A, 336-unit, apartment community located in Kissimmee, Florida, a rapidly growing Orlando suburb. The offering, which was made available to accredited investors seeking to complete a 1031 exchange as well as to those wanting to make direct cash investments, was fully subscribed for nearly $33 million in capital in less than 90 days.
Completed in 2016, Grand at Westside is a, class A suburban, garden-style apartment community in the rapidly growing Orlando market which ranks top in job growth and one of the fastest growing cities in the nation.
"The Grand at Westside fits seamlessly in the BVEX portfolio. The property is newer construction, offers easy access to Walt Disney and other area theme parks along with other major employers, and benefits from Osceola County's explosive population growth, providing an opportunity for built-in value creation for our investors," said Josh Hoffman, President of BVEX.
The property consists of 14 three-story residential buildings on approximately 18.9 acres. Residents can choose from amply-sized one, two, three, and four-bedroom units featuring high-quality construction as well as an abundance of attractive, modern amenities including a resort-style, zero entry pool with LED lighting, a summer kitchen and bar, a covered gazebo, putting green, pet park oasis, 24-hour fitness center with a WELLBEATS virtual fitness instructor, in a 100% smoke free community. The property is located in the Four Corners area of Orlando with proximity to Walt Disney World and other area theme parks, major employers, and numerous shopping and dining options.
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 have the potential for value creation. Bluerock has structured 1031 exchanges on over $1.2 billion in total acquisition cost and over 8.0 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.
BR Grand at Westside, DST is a closed investment program; not open to new investment.