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Offering Summary

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BR Amira DST

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BR Amira DST is raising $66,041,529 in equity alongside $56,650,000 in fixed-rate debt to acquire a 408-unit multifamily community in Tampa, FL. The total offering price is $122,691,529, with initial Year 1 cash flow projected at 4.45% and full-term average projected income at 4.86%.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%
Yr 1Term avg.
Yr 1 4.45%Term avg. 4.86%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

408-Unit Class A Garden-Style Community in Tampa, FL

$103,000,000 acquisition price

BR Amira DST

Class A, garden-style apartment community

The property was completed in 1999.

6105 Paddock Glen Drive, Tampa, Florida 33634

6105 Paddock Glen Drive, Tampa, Florida 33634

408 unitsClass A, garden-style apartment community

$103,000,000

100.0% of portfolio

Seller
—
Property manager
Bluerock Value Exchange
Sponsor

Bluerock Value Exchange

Asset Type

Class A, garden-style apartment community

Location

6105 Paddock Glen Drive, Tampa, Florida 33634

Units

408

Property Age

The property was completed in 1999.

Offering Price

$122,691,529

Offering Debt

$56,650,000

Offering Equity

$66,041,529

Offering LTV

46.17%

Income % (Yr. 1)

4.45%

Avg. Income (Full Term)

4.86%

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

  • Targeted Year 1 distribution of 4.45% with an average projected yield of 4.86% over the term.
  • Equity raise of $66,041,529 fully covers required capitalization alongside fixed-rate agency-level debt.

Concerns

  • Overall load on the offering price is 9.40%, diluting initial invested capital against physical asset cost.
  • Account Acceptance Fee charged for trust administration.