BR Diversified Industrial Portfolio III
Industrial in West Columbia, SC — sponsored by Bluerock Value Exchange
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These links support the historical public record; individual details may come from different sources.
What is this, in one paragraph?
BR Diversified Industrial Portfolio III, DST is a Delaware Statutory Trust — a passive co-ownership vehicle whose interests qualify for 1031 exchange treatment — sponsored by Bluerock Value Exchange. It holds warehouse, manufacturing and distribution buildings in South Carolina, Florida and Georgia, bought without mortgage debt.1 Bluerock announced on December 18, 2024 that the Trust was fully subscribed, so it is closed to new investors.3
Minimum investment
$100k
Offering size
$41.2M
How much has sold
None sold yet
Financing
All cash. This offering reports no mortgage debt.
Sponsor-reported, from SEC filings and cited 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 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
Who is the tenant, and what's the lease?
Tenants named in the sponsor's term sheet include Mac Papers and Packaging, United Pipe and Supply Company, Innovative Food Service Group, The Dupuy Group, Mitnet, Atlanta Hawks, Tango Flooring, South Ferry Development Company and Knight Brothers USA.1 Leases are triple-net — tenants carry taxes, insurance and maintenance — and Bluerock described the portfolio as 99% leased.1
How did it end?
Still operating
BR Diversified Industrial Portfolio III, DST (cik 2012272) is still operating; its six-building, nine-tenant industrial portfolio across three sunbelt states is referenced in Bluerock Industrial Growth REIT's (BIGR) Q4 2024 property portfolio [1], no 8-K/disposition filing exists on EDGAR [2], and no full-cycle announcement appears on AltsWire or the sponsor newsroom [3].
Six-building, nine-tenant industrial portfolio marketed by Bluerock Value Exchange; raised approximately $41M; 100% leased at acquisition across three Sun Belt states (SC, FL, GA).
6 buildings, 9 tenantsSupporting evidence
Counted on Bluerock Value Exchange’s Record Card as: No outcome recorded · under 7 years Document
How is it financed, and what does it pay?
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.
- Financing
- All cash. This offering reports no mortgage debt.
Who's behind it?
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
- Bluerock Value Exchange
- 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?
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.
- Form D filedFirst and latest filing on record.
- Legal Trust name
- BR Diversified Industrial Portfolio III, DST
- 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 III?
Top1031 lists BR Diversified Industrial Portfolio III in the Historical cohort because its latest filing is outside the Active window. The outcome and source documents are shown separately.
Where does Top1031 get the data for BR Diversified Industrial Portfolio III?
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 this Trust?
No. Bluerock Value Exchange announced on December 18, 2024 that BR Diversified Industrial Portfolio III, DST had been fully subscribed, and Connect Money reported the same result on December 19, 2024. The Trust is closed to new investors and is carried as Historical.
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 private placement memorandum, the offering's full legal disclosure document.
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.
Chapter 9Bluerock Value Exchange Fully Subscribes $41.2 Million Diversified Industrial Portfolio III DSTBVEX announced it has fully subscribed BR Diversified Industrial Portfolio III, DST (DIP III) program with $41.2 million in equity from third-party investors. Bluerock Value Exchange launches $41m Diversified Industrial Portfolio III DSTIREI covers the Bluerock DIP III launch describing the six-building, nine-tenant industrial portfolio across three Sun Belt states.