Bluerock Value Exchange has sold out the latest 1031 exchange program, BR Jefferson Place, DST, a Class A, 228-unit, apartment community located in Frederick, Md., near Washington, D.C. The $26 million equity offering, which was made available to accredited investors seeking to complete a 1031 exchange, was fully reserved in less than 90 days. BVEX ranked among the top-four sponsors of securitized 1031 exchange with more than $113 million in equity capital raised and more than $260 million in new property acquisitions in 2018.
“Jefferson Place is adjacent to the new mixed-use Tech Park and immediate access to the I-270 and DNA Alley Employment Corridor,” said Josh Hoffman, president of BVEX. “The property’s newer construction and top-of-the-market-amenities caters to an affluent resident base and has shown high occupancy levels which provides a great opportunity for stabilized current income, long-term rent growth and value creation potential for our investors.” Built in 2017, Jefferson Place is a class A, midrise apartment community located within Maryland’sI-270 Biotech Corridor. The property consists of seven four-story residential buildings on around 7.5 acres. Residents can choose from amply-sized one, two, and three-bedroom units featuring high-quality construction as well as a South Beach inspired swimming pool with poolside grilling areas, a fitness center with a private-training room featuring Virtual Fitness on Demand, a game room with pool table and shuffleboard, and detached garages in select units.