Bluerock Value Exchange has sold Venue Big Creek, a 372-unit garden-style midrise apartment community located in Alpharetta, Ga.
The property was acquired by BR Big Creek, DST, a Delaware Statuary Trust (DST) structured for 1031 like-kind exchanges for accredited investors. The full-cycle event included an equity return of approximately $43.5 million on a $35.9 million investment, or an approximate 121 percent net gain on sale. In addition to the capital appreciation, the property paid consistent monthly distributions of 5.35 percent to 5.44 percent, totaling more than $8.1 million and enhancing the net total return to 144 percent.
“We are very pleased to have delivered consistent cash distributions during the hold period, along with attractive total returns to investors well ahead of our forecasted hold period,” said Josh Hoffman, president of BVEX. “Venue Big Creek reflects the excellent investment foresight by our real estate team in targeting unique propertie
