NEW YORK, Feb. 15, 2018 /PRNewswire/ -- Bluerock Value Exchange ("BVEX") announced today the sellout of its latest 1031 exchange program, BR Grand Dominion, DST, a Class A, 320-unit, apartment community located in San Antonio, Texas. BVEX, an affiliate of Bluerock Real Estate, reports that the securities offering was fully subscribed for more than $23 million in capital in approximately 40 days. 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 2015, Grand Dominion is an upscale, class A+ apartment community in the affluent, rapidly-growing Rim area of northern San Antonio. In keeping with the value creation strategy of BVEX, the Grand Dominion investment is positioned to offer steady cash flow with significant upside in future rents, supported by a sought-after, high-growth submarket.
"Bluerock Value Exchange, which has structured 1031 exchanges on more than 7.5 million square feet of property, was formed to deliver high quality, class A 1031 replacement properties with the capacity for attractive current cash flow, and future value creation," said Josh Hoffman, President of BVEX. "As an established sponsor with strong, proven performance, we continue to see significant demand for our top-tier, investment-grade properties like Grand Dominion."
Grand Dominion is a best-in-class development consisting of 16, two- and three-story residential buildings on approximately 21.3 acres. The community offers one-, two, and three-bedroom floor plans averaging 1,018 square feet and features high-quality construction as well as an abundance of attractive, modern live-work-play style amenities including a resort-style swimming pool with cabanas, outdoor fireplace, theater, indoor golf simulator, billiards, business center, state-of-the-art fitness center, as well as an elegant, multi-story clubhouse. The property is located within The Dominion, an exclusive country club and one of San Antonio's most affluent markets. The average household income within a one mile radius is $190,732 and the average single-family home price in the immediate area is approximately $640,000.
About Bluerock Value Exchange
Bluerock Value Exchange is a national sponsor of syndicated 1031-exchange offerings with a focus on Class A assets with the potential to deliver stable cash flows and value creation. Bluerock has structured 1031 exchanges on $1.1 billion in total property value and over 7.5 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.
BR Grand Dominion, 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.
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SOURCE Bluerock Value Exchange