BR Diversified Industrial Portfolio III
Industrial property in West Columbia, SC · sponsored by Bluerock Value Exchange
BR Diversified Industrial Portfolio III was a DST sponsored by Bluerock Value Exchange that owned 6 industrial buildings in West Columbia, SC. Its last Form D was filed Feb 20, 2024.
How it ended
No outcome recorded · under 7 years
The record lists the offering as fully subscribed; the last Form D was filed Feb 20, 2024.
Key facts
- Minimum investment
- $100,000From the Form D
- Offering size
- $41,227,843Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Feb 20, 2024)Form D, Feb 20, 2024
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,566,209 · 8.6% of offering
- Financing
- All cash. This offering reports no mortgage debt.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: BR Diversified Industrial Portfolio III. Top1031 is not a broker-dealer.What did the Trust own?
The Trust's buildings are warehouse, manufacturing and distribution space totaling roughly 359,804 rentable square feet across three Sun Belt states. 2 They are located at 121 S. Woodside Parkway in West Columbia, South Carolina; 3020 and 3036 Commerce Way in Hapeville, Georgia; 1030 Ellis Road in Jacksonville, Florida; 2211 Lithonia Industrial Boulevard in Lithonia, Georgia; and 6820 Kelly Avenue in Morrow, Georgia. 1 The reviewed materials do not state construction or acquisition dates.
- Reported location
- West Columbia, SC
- Property size
- 6 buildings, 9 tenants
How was it financed, and what did it cost to sell?
Bluerock structured the Trust with no debt assumption, so there is no lender, no mortgage and no loan maturity for the Trust to refinance. 1 That matters because a DST is barred from raising new capital or renegotiating debt once the offering closes; an unlevered capital stack removes that pressure point.
Debt
- Financing
- All cash. This offering reports no mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $3,566,209 · 8.6% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,711,634 · 6.5% of offeringForm D Item 16· The filing’s note: “The Manager receives an acquisition fee of $878,625. The Sponsor receives organization and operating expenses of $309,209 + closing cost reimbursement of $1,523,800”
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Bluerock Capital Markets LLC · CRD 136974
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.
Who's behind the Trust?
Bluerock Value Exchange is identified in the offering materials as a national sponsor of syndicated Section 1031 exchange programs. 1 Connect Money's coverage of the February 2024 launch described this Trust as the firm's 36th individual DST program. Bluerock announced on December 18, 2024 that the Trust had been fully subscribed with $41.2 million of equity from third-party investors, a result Connect Money reported the following day. 4
- Sponsor
- Offerings on record
What does the SEC record show?
The Trust filed a single Form D — the short notice an issuer sends the SEC for an exempt private offering — and never amended it. Selling under Rule 506(c) let Bluerock market the Trust publicly, provided every buyer is an accredited investor whose status is verified.
- Legal Trust name
- BR Diversified Industrial Portfolio III, DST
- SEC CIK
- 2012272
- First Form D
- Feb 20, 2024
- Latest Form D
- Feb 20, 2024
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $41,227,843 | $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 BR Diversified Industrial Portfolio III?
- BR Diversified Industrial Portfolio III is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Feb 20, 2024.
- What properties does the Trust own and where are they?
- Six industrial buildings — warehouse, manufacturing and distribution space — in three Sun Belt states, per the sponsor. The term sheet lists addresses in West Columbia, South Carolina; Hapeville, Lithonia and Morrow, Georgia; and Jacksonville, Florida, totaling roughly 359,804 rentable square feet.
- Did the Trust use mortgage debt?
- No. The sponsor's term sheet describes the offering as all-cash with no debt assumption. For an investor replacing a mortgaged relinquished property in a 1031 exchange, an unlevered DST provides no replacement debt, which is a point to review with a tax adviser.
- Is there a 721 exchange or UPREIT conversion feature?
- The record shows no REIT conversion feature for this Trust — no disclosed path for investors to roll interests into an operating partnership in exchange for REIT units. Any exit mechanics that do exist are governed by the offering documents.
- What is not known from the public record?
- The reviewed sources do not state individual lease expiration dates or a weighted average lease term, a purchase price for the real estate separate from the all-in offering figure that includes fees and reserves, or an acquisition date. No post-closing operating statement, sale or refinancing has been located.
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.