Top1031

Amira at Westly

Multifamily property in Tampa, FL · sponsored by Bluerock Value Exchange

HistoricalLast Form D filed Dec 6, 2024 (opens in a new tab)

Amira at Westly was a DST sponsored by Bluerock Value Exchange that owned a multifamily property in Tampa, FL (408 units). Its last Form D was filed Dec 6, 2024.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Dec 6, 2024.

Bluerock Value Exchange has 3 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$66,041,529
Equity offered, per the Form D
Sold
Not reported after the first Form D (Dec 6, 2024)
Form D, Dec 6, 2024
Selling commissions
$5,712,593 · 8.6% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

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Ask a 1031 specialist about this recordFree. About: Amira at Westly. Top1031 is not a broker-dealer.
Amira at Westly image

Amira at Westly · Tampa, FL · Photo: amiraatwestly.com

What did Amira at Westly own?

Bluerock Value Exchange states the community was built in 1999, renovated in 2019–2020 and expanded in 2023. 3 Bluerock Homes Trust told the SEC that on October 31, 2024 it acquired the Amira property through BR Amira DST for approximately $103.0 million. 1 The community sits adjacent to Tampa International Airport.

Property address
6105 Paddock Glen Drive, Tampa, FL
Property size
408 units; 404,976 total square feet

How was it financed, and what did it cost to sell?

The Trust carries non-recourse Fannie Mae debt, meaning the lender's remedy on a default is the property itself rather than the investors personally. 5 Multi-Housing News reported that the acquisition capital stack also included a KeyBank bridge loan alongside Bluerock equity. 6

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$5,712,593 · 8.6% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$6,516,165 · 9.8% of offering
Form D Item 16
· The filing’s note: “The sponsor is entitled to organization and offering expenses of $495,311 + loan related closing costs of $764,323 + other closing costs of $3,196,531. The Manager will receive an acquisition fee of $2,060,000”
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
Minimum investment
$100,000

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.

What does the SEC record show?

A single Form D — the short notice an issuer files with the SEC after selling securities privately — covers this offering, and no amendment has followed it. The Trust was offered under Rule 506(c), the exemption that allows public advertising but limits purchasers to investors whose accredited status has been verified.

Legal Trust name
BR Amira, DST
SEC CIK
2046722
First Form D
Dec 6, 2024
Latest Form D
Dec 6, 2024
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$66,041,529
$0
EDGAR

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Common questions

What happened to Amira at Westly?
Amira at Westly is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Dec 6, 2024.
What did the property cost?
Two figures appear in the public record, framed differently. Bluerock Homes Trust's Form 8-K reported an acquisition of the Amira property through BR Amira DST on October 31, 2024 for approximately $103.0 million. Bluerock Value Exchange's September 10, 2025 announcement reported a total purchase price of $122.7 million including leverage for the DST offering. Top1031 has not reconciled the two.
How was the deal financed?
Bluerock Value Exchange stated at the November 25, 2024 launch that the Trust used non-recourse Fannie Mae financing at 4.81% and represented approximately 46% loan-to-capitalization. Multi-Housing News reported in November 2024 that the acquisition stack comprised $14.5 million of Bluerock equity, a 10-year $56.7 million interest-only Fannie Mae note at 4.81%, and a $36 million KeyBank bridge loan.
Who runs the property day to day?
The Trust itself does not. Bluerock Homes Trust's Form 10-Q for the quarter ended June 30, 2026 states that under the master lease a wholly owned indirect subsidiary of its Operating Partnership is responsible for subleasing the property to tenants. That master-lease structure is standard in DSTs, which are legally barred from active property operation.
Does the SEC record show how much equity was raised?
Yes, from the affiliate's side. Bluerock Homes Trust's DST offering table in its Form 10-Q for the quarter ended June 30, 2026 reports $59,812 thousand raised for Amira at Westly and $100,795 thousand in net real estate investments. That same filing describes the Amira at Westly DST as fully subscribed with equity from individual investors.
Can this Trust convert into REIT shares?
Top1031's record shows no 721 exchange or UPREIT feature for this Trust — that is, no structured path to swap the property interest for operating-partnership units in a REIT at exit. Any exit mechanics an investor is relying on should be confirmed against the Trust's offering documents.

In the news

Sources

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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.