BR Diversified Industrial Portfolio II
Industrial — sponsored by Bluerock Value Exchange
Files with the SEC as BR Diversified Industrial Portfolio II, DST
Minimum investment
$100k
Offering size
$54.9M
How much has sold
None sold yet
Asset type
Industrial
Location
Not stated
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
BR Diversified Industrial Portfolio II is a Delaware statutory trust (DST) — a passive co-ownership structure whose interests qualify for 1031 exchanges — holding three warehouse and manufacturing buildings in Fayetteville and Charlotte, North Carolina. It is closed to new investors: Bluerock Value Exchange announced on April 18, 2024 that the offering was fully subscribed with $54.9 million of third-party equity.1
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
The Trust's three buildings sit in two North Carolina markets. In Fayetteville, the Dunn Road property at 1005 Dunn Road and 1030 Fort Worth Avenue is a 127,500-square-foot distribution warehouse carrying a stated completion of 1999/2022.2 In Charlotte, Bluerock's term sheet lists a 1986 distribution warehouse at 1827 Scott Futrell Drive and a larger 1960 warehouse-and-manufacturing building at 9415 Pioneer Avenue.2
- Property size
- 424,017 sq ft (3 buildings, 5 tenants)
Who is the tenant, and what's the lease?
Five tenants occupy the portfolio: Amazon and FedEx in Fayetteville, Mac Papers and Packaging on Scott Futrell Drive, and Central Aluminum Supply Corporation and Yale Industrial Products on Pioneer Avenue.2 Leases are triple net, meaning tenants carry taxes, insurance and maintenance; the sponsor reported the portfolio 90% leased as of July 2023, with one roughly 49,000-square-foot Pioneer Avenue suite vacant.2
How did it end?
Closed to new investment · still operating
BR Diversified Industrial Portfolio II, DST fully subscribed with $54.9M in equity by April 2024 and per Bluerock Industrial Growth REIT's Q4 2024 Property Portfolio disclosure, its North Carolina industrial properties are listed as 'Active' within BIGR's noncontrolling-interests portfolio, indicating the trust still owns and operates the properties with no full-cycle sale announcement found [1][2][3].
$54.9M equity raise; 3-building/5-tenant industrial portfolio in North Carolina (Fayetteville and Charlotte); approximately 424,000 sq ft; SEC Form D filed Aug 16, 2023; fully subscribed April 18, 2024. Sponsor: Bluerock Value Exchange (BIGR Exchange II TRS LLC affiliate).
424,017 sq ft (3 buildings, 5 tenants)Supporting evidence
Counted on Bluerock Value Exchange’s Record Card as: Still operating Document
How is it financed, and what does it pay?
Bluerock's July 2023 term sheet listed debt assumption as "None, All Cash".2 Its completion announcement likewise called the portfolio unleveraged — investor equity, not a mortgage, funding the purchase — which conflicts with the financing classification shown below.1
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Bluerock Value Exchange is the 1031 exchange arm of Bluerock, whose Form D for this Trust lists a New York mailing address at 1345 Avenue of the Americas.3 The filing names BIGR Exchange II TRS, LLC as sponsor and BR Diversified Industrial Portfolio II Manager, LLC as manager, with Bluerock Value Exchange, LLC as the manager's parent.3 Bluerock Industrial Holdings, LP is listed as operating partnership and Bluerock Industrial Growth REIT, Inc. as a sponsor affiliate, tying the Trust to Bluerock's industrial platform.3
- Sponsor
- Bluerock Value Exchange
- Legal Trust name
- BR Diversified Industrial Portfolio II, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 4 active / 18 total offerings from Bluerock Value Exchange
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
Bluerock filed one notice for this Trust and never amended it, so the SEC record reflects the offering as it stood at launch rather than at its close.4 It was offered under Rule 506(c), which permits public advertising but requires the sponsor to verify that every purchaser is an accredited investor.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
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.
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 Private Placement Memorandum before investing.
Common questions
What happened to BR Diversified Industrial Portfolio II?
Top1031 lists BR Diversified Industrial Portfolio II as historical. It is no longer raising money.
Where does Top1031 get the data for BR Diversified Industrial Portfolio II?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Can I still invest in BR Diversified Industrial Portfolio II?
No. The Trust is closed to new investors. Bluerock Value Exchange announced on April 18, 2024 that the offering had been fully subscribed with $54.9 million of equity from third-party investors, so no interests remain available through the sponsor.
Why does the SEC filing not show the completed raise?
Because the issuer filed a single Form D on August 16, 2023 — before sales — and never filed an amendment. Form D is a short notice of an exempt offering, not an ongoing report, so a sponsor that does not amend leaves the public record frozen at launch. Bluerock's own April 18, 2024 release is the source for the completed raise.
What does the Trust actually own?
Three industrial buildings in North Carolina: a distribution warehouse at 1005 Dunn Road / 1030 Fort Worth Avenue in Fayetteville, a warehouse at 1827 Scott Futrell Drive in Charlotte, and a warehouse-and-manufacturing building at 9415 Pioneer Avenue in Charlotte. Bluerock's term sheet describes the mix as warehouse, manufacturing and distribution space.
Who are the tenants, and was the portfolio fully leased?
The sponsor listed five tenants: Amazon and FedEx at the Fayetteville property, Mac Papers and Packaging at Scott Futrell Drive, and Central Aluminum Supply Corporation and Yale Industrial Products at Pioneer Avenue. As of July 2023 the sponsor reported the portfolio 90% leased, with a single vacant suite of nearly 49,000 square feet at Pioneer Avenue.
Was this offering financed with a mortgage?
Bluerock's July 2023 term sheet listed debt assumption as "None, All Cash" and its April 18, 2024 announcement described the portfolio as unleveraged. This directory's structured data classifies the Trust as leveraged, so the two records disagree; the trust agreement and PPM are the controlling documents on the capital stack.
Has anything happened to the portfolio since the offering closed?
No primary public record of a sale, refinancing, lease default, or 721/UPREIT roll-up — an exit in which DST interests are exchanged for operating partnership units of a REIT — surfaced in research conducted through September 2, 2026. The Form D record shows no amendment, and no outcome has been reported.
Chapter 9Bluerock Value Exchange Fully Subscribes $54.9 Million Diversified Industrial Portfolio II DSTBluerock announces full subscription of the BR Diversified Industrial Portfolio II DST raising $54.9M from third-party investors. Bluerock Value Exchange Launches $54.9M BR Diversified Industrial Portfolio II DSTSponsor announces launch of a $54.9M unleveraged industrial DST consisting of three industrial buildings in North Carolina.