Top1031

Harrison Trace

Class A single-family rental property in Charlotte, NC · sponsored by Bluerock Value Exchange

Historical · soldSold, as reported by Bluerock Value Exchange · last Form D Jul 8, 2022Sponsor source (opens in a new tab)

Harrison Trace was a DST sponsored by Bluerock Value Exchange that owned a class A single-family rental property in Charlotte, NC. Bluerock Value Exchange sold the property, as reported by the sponsor.

How it ended

No outcome recorded · under 7 years

Sold.

Sponsor document (opens in a new tab)

Bluerock Value Exchange has 3 active offerings on record →

Key facts

Minimum investment
$100,000
From the Form D
Offering size
$48,182,163
Equity offered, per the Form D
Sold
2.9%
Form D, Jul 8, 2022; the % is our arithmetic
Investors reported
5
Form D, Jul 8, 2022
Selling commissions
$4,167,757 · 8.6% of offering
Form D Item 15; the % is our arithmetic
Financing
All cash. This offering reports no mortgage debt.
How it is financed ↓
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.

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 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Harrison Trace. Top1031 is not a broker-dealer.

What did Harrison Trace own?

Harrison Trace sits at 5605 Harrison Trace Drive in Charlotte, North Carolina. 2 Bluerock's term sheet describes a Class A, built-for-rent single-family community completed in 2021–2022 on roughly 14.07 acres. 2 The sponsor's portfolio page lists the community at 145,359 square feet. 3 The materials reviewed do not state when the Trust closed on the purchase.

Reported location
Charlotte, NC
Property size
84 two-story detached homes

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

The Trust bought the community outright: Bluerock's term sheet says the property is unencumbered and the manager did not anticipate permanent financing or senior debt. 2 That means no loan maturity to refinance and no lender foreclosure risk — and no borrowed capital working in the deal either.

Debt

Financing
All cash. This offering reports no mortgage debt.

Costs and terms from the Form D

Selling commissions
$4,167,757 · 8.6% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,723,573 · 3.5% of offering
Form D Item 16
· The filing’s note: “The Sponsor will receive an organization & offering expense reimbursement of $289,093 + an acquisition fee of $790,000 + carry costs of $121,757 + other closing cost reimbursement of $522,723”
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
Jun 30, 2022
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 Form D is the brief notice an issuer files with the SEC after its first sale of unregistered securities; this one reported a first sale on June 30, 2022. 1 The exemption claimed prohibits general advertising, so interests were offered privately to accredited investors — those meeting SEC income or net-worth tests. Nothing further has been filed since.

Legal Trust name
BR Harrison Trace, DST
SEC CIK
1936742
First Form D
Jul 8, 2022
Latest Form D
Jul 8, 2022
Filings on record
1
Offered under
Rule 506(b)
General advertising and solicitation are not permitted under this exemption.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount soldInvestors
Form D$48,182,163
$1,416,590
5
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 Harrison Trace?
Harrison Trace is a Historical offering. Sold, as reported by Bluerock Value Exchange.
Where is Harrison Trace and what kind of property is it?
Bluerock Value Exchange's term sheet places the property at 5605 Harrison Trace Drive, Charlotte, North Carolina 28269. It is a Class A, built-for-rent community of two-story detached rental homes described as completed in 2021–2022 on approximately 14.07 acres, and the sponsor's portfolio page lists 145,359 square feet.
Does the Trust carry a mortgage?
No. Bluerock's term sheet states the Trust acquired the property in an all-cash transaction, that the property was not encumbered, and that the manager did not anticipate permanent financing or senior debt. An unleveraged DST has no loan maturity and no lender that can foreclose, but investors seeking replacement debt for a 1031 exchange will not find matching debt at the Trust level.
What was the minimum investment?
The June 1, 2022 brochure set a $100,000 minimum for 1031 exchange investors, which it described as equal to a 0.20547% interest in the Trust. The Form D filed July 8, 2022 also reports a $100,000 minimum outside investment.
What has the sponsor published about rents at the property?
Bluerock's term sheet states that recent leases for each floorplan were signed at rental rates 12.3% higher than the prior leases on those floorplans. That is a sponsor-reported, historical figure from the 2022 marketing materials, not a current operating report; no later property-level performance disclosure was located.
How is the Trust offered, and who can invest?
It is offered under Rule 506(b) of Regulation D, a private-placement exemption that bars general solicitation and advertising, meaning the sponsor may only offer interests to investors with whom it has a pre-existing relationship. Buyers must be accredited investors, and the governing terms are set out in the offering documents, not in the SEC filing.

Sources

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These links support the record as a whole; individual details may come from different sources.

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.