Bluerock Value Exchange (BVEX), a 20-year, national sponsor of 1031 exchange and Delaware statutory trust (DST) investment programs, announced it has fully subscribed the $66 million offering of BR Amira, DST, which, including leverage, had a total purchase price of $122.7 million. Bluerock reported that it has sponsored more than $2.8 billion in full-cycle and on-going 1031 exchange programs.
Amira represents an attractive investment opportunity in a newly renovated, class A apartment community in Tampa, Fla., a high economic and job growth epicenter.
Amira seeks to provide investors with monthly cash flow and the potential for capital appreciation driven by high forecasted rent growth and continued high job and population growth within the Tampa metro, leading to strong renter demand. The DST program also provides investors with multiple options upon a future exit strategy event including 721 exchange (UPREIT) or subsequent 1031 exchange / cash out optionality.
