Churchill Downs
Legal trust name BR Churchill Downs, DST
Talk to a 1031 specialistData updated Jun 6, 2025
Offering size$37.8M
Asset typeMultifamily
LocationAberdeen, NC
FinancingLeveraged
Regulation D exemptionRule 506(c)
Sponsor-reported potential 721/UPREIT exitNo
First filedJun 6, 2025
Last filedJun 6, 2025
Minimum$100k
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.
BR Churchill Downs, DST is a Bluerock Value Exchange multifamily offering built around a 272-unit Class B townhome and garden-apartment community at 800 Churchill Downs Drive in Aberdeen, North Carolina, managed by RPM Living. The community spans roughly 21.31 acres with 34 residential buildings, 288,480 net rentable square feet, and 622 parking spaces, completed in two phases in 2000 and 2003. The property was acquired in April 2025 for $56.6 million within total capitalization of about $68.5 million, financed with roughly $30.7 million of fixed-rate senior debt and about $37.8 million of equity. It is identified as Bluerock Value Exchange's 42nd individual DST program.
44.86% LTV; $100K min; $30.7M Fannie/KeyBank 5.13% IO to 2035; acq Apr-25 $56.6M; Y1 dist 4.28%; RPM Living
272 units / 288,480 SFBased on issuer-filed Form D notices through Jun 6, 2025. Amounts are self-reported, may lag current subscriptions, and do not confirm availability. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Reported sold as a percentage of stated offering amount0.0%Current Form D data does not support a reliable raise-progress estimate.
Not enough filing history for a trend line.
Capital sold, per latest Form D—
Remaining amount reported in latest Form D$37,778,539
Investor count reported in latest Form DNot disclosed
Stated minimum investment$100,000
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First filedJun 6, 2025
Latest filingJun 6, 2025
Filings tracked1
View filing on SEC EDGARForm D is an issuer notice filing. A filing does not mean the SEC approved, endorsed, or verified the offering.
Offering profile
SEC filings + cited sources
Property
BR Churchill Downs, DST holds a 272-unit multifamily community at 800 Churchill Downs Drive in Aberdeen, North Carolina, comprising 96 direct-entry townhome units and 176 garden-style apartment units 1. The community sits on approximately 21.31 acres with 34 residential buildings, 288,480 net rentable square feet, and 622 parking spaces (493 surface, 73 garage, 56 ADA-accessible), built in two phases completed in 2000 and 2003 1. It is classified as a Class B townhome/garden value-add asset, with a targeted unit-upgrade program at the property level 12.
Capitalization and financing
The property was acquired in April 2025 for $56,600,000 within total capitalization of $68,517,539 1. Financing comprises $30,739,000 of senior debt (interest-only at a 5.13% fixed rate over a 10-year term) and $37,778,539 of equity, implying a 44.86% loan-to-value, alongside $3,000,000 in reserves 1. An issuer-filed Form D dated June 6, 2025 reported a total offering amount of $37,778,539 3.
Sponsor and management
The program is sponsored by Bluerock Value Exchange, which publicly launched the offering on June 20, 2025 and identifies it as its 42nd individual DST program, targeting approximately $37.8 million of equity from accredited investors 2. The community is managed by RPM Living 2.
In the news
Frequently asked questions
Is Churchill Downs currently active?
Churchill Downs is classified by Top1031 as active. “Active” reflects the latest public record and does not confirm that interests remain available.
Where does Top1031 get the data for Churchill Downs?
Top1031 tracks this offering from SEC Form D filings and cited sponsor disclosures. Filing data may lag current subscriptions and does not mean the SEC approved or verified the offering.