Bluerock $37.8M NC Multifamily DST | Investment Opportunity
- Bluerock Value Exchange (BVEX), a division of Bluerock, an alternative investment manager, has announced its 42nd DST 1031 exchange offering: BR Churchill Downs, DST.
- The DST will finance a low-density apartment community located in Pinehurst, N.C.
- Josh Hoffman, president of BVEX, commented on the launch, highlighting the favorable conditions for apartment investments.
Bluerock Value Exchange (BVEX) is launching BR Churchill Downs, a $37.8M multifamily DST in North Carolina, seeking accredited investors. The project, a townhome and garden-style apartment community in Pinehurst, NC, is designed to capitalize on limited new construction and rising rents, presenting a compelling investment possibility. BVEX,with a strong track record,is targeting approximately $37.8 million in equity. The location and property features drive the strong investment prospect. This new venture follows successful fundraising for other DSTs. Read about similar investment vehicles at News Directory 3. With over $2.8 billion in 1031 exchange transactions, BVEX continues to expand its offerings. Discover what’s next …
Bluerock Value Exchange launches $37.8M Multifamily DST in NC
Updated June 23, 2025
Bluerock Value Exchange (BVEX), a division of Bluerock, an alternative investment manager, has announced its 42nd DST 1031 exchange offering: BR Churchill Downs, DST. The company aims to raise approximately $37.8 million from accredited investors for this new venture.
The DST will finance a low-density apartment community located in Pinehurst, N.C. BVEX believes the property’s design and regional location present a strong investment prospect. Factors supporting this outlook include limited new multifamily construction, challenges in homeownership affordability, and consistent household formation growth.
Josh Hoffman, president of BVEX, commented on the launch, highlighting the favorable conditions for apartment investments. He said the sector is expected to benefit from increasing rents due to a decline in new construction, the high cost of homeownership compared to renting, and continued household formation.
This launch follows several successful fundraising efforts by BVEX. Recently, the company completed fundraising for BR Diversified industrial Portfolio IV, DST (DIP IV), securing $31.6 million. In March, BVEX announced a targeted capital raise of about $36.7 million for its BR Diversified Industrial Portfolio V, DST. In December 2024, the company fully subscribed its BR Diversified Industrial Portfolio III, DST (DIP III) program, announced in February, with $41.2 million in equity from third-party investors.
Based in Manhattan, BVEX has structured over $2.8 billion in 1031 exchange transactions across more than 14 million square feet of diversified commercial and multifamily real estate.