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Bluerock Value Exchange Sells Out Multifamily Beach House DST 1031 Exchange Offering

Bluerock Value Exchange, a sponsor of syndicated 1031 exchange offerings, has sold out its latest 1031 exchange program, BR Beach House DST, a class A, 228-unit apartment community in Jacksonville Beach, Florida. Bluerock 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.

“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,” said Ramin Kamfar, founder and CEO of Bluerock Real Estate. “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.”

The property consists 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 courtyard and golf course views, a 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 area shops and restaurants.

Completed in 2009, the property is located in a mixed-use beach community and, according to Bluerock, delivers steady cash flow with potential upside in rents, which are reportedly 30 percent lower than its closest competitor.

Bluerock Value Exchange has structured 1031 exchanges on more than $750 million in total acquisition cost and nearly 6 million square feet of property.

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