Residence at Stonebrook
Multifamily property in Nashville, TN — sponsored by Bluerock Value Exchange
Files with the SEC as BR Nashville Stonebrook, DST
Minimum investment
$150k
Offering size
$8.7M
How much has sold
8.0%
Asset type
Multifamily property
Location
Nashville, TN
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Residence at Stonebrook was a Delaware statutory trust — a DST, the structure that lets 1031 exchangers hold fractional interests in a single property — organized in 2011.1 Bluerock Value Exchange reported acquiring the Nashville, Tennessee apartment community for about $18.3 million in December 2011 and selling it for $39.5 million on May 31, 2019; the offering is closed to new investors.2
Show sources (9)Hide sources (9)
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?
Bluerock's property page places Residence at Stonebrook at 121 Hickory Trace Drive in Nashville, Tennessee, and describes a Class B garden-style apartment community.3 Bluerock reported that the trust acquired the property in December 2011 for approximately $18.3 million and that the property's net operating income increased by more than 80% during its ownership.2
- Reported location
- Nashville, TN
- Property size
- 320 units; 306,090 rentable square feet; approximately 21 acres
Who is the tenant, and what's the lease?
This was an apartment community, so income came from individual resident leases rather than one corporate tenant, and no public source documents a formal lease structure for the ownership period. Bluerock reported that its asset and property management teams sustained 98%–99% occupancy over the prior six-plus years.2
How did it end?
Sold after 7.6 years; sponsor reported 3.10x
Listed as a completed/full-cycle program on Bluerock Value Exchange's published track record.
The offering document describes a 320-unit Class B garden-style community on approximately 21 acres with 306,090 rentable square feet; Bluerock reported a successful sale/full-cycle event in 2019. Coverage describes the trust as sold/full-cycle, not 'fully subscribed' or 'sold out', so status_signal is none.
320 units; 306,090 rentable square feet; approximately 21 acres3.10×Equity multiple · as reported by the sponsor
364.0%Total return · as reported by the sponsor
48.5%Annualized return · as reported by the sponsor
$39,500,000Sale price · as reported by the sponsor
Supporting evidence
How is it financed, and what does it pay?
No public filing identifies a mortgage lender, a loan balance, or a leverage measure for this Trust. The initial Form D did estimate $1,085,275 for organization and offering expenses, a financing fee, the sponsor's acquisition fee, and closing costs.1
Who's behind it?
Bluerock Value Exchange is the 1031 exchange arm of Bluerock Real Estate, which the January 13, 2012 Form D amendment named as promoter alongside BR Nashville Stonebrook DST Manager, LLC as an affiliate of the issuer.4 On June 18, 2019, Bluerock announced the sale as one of the most successful full-cycle events in the history of securitized 1031 DST programs, reporting more than $26.9 million of equity returned on an $8.7 million investment over roughly 7.5 years.2
- Sponsor
- Bluerock Value Exchange
- Legal Trust name
- BR Nashville Stonebrook, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 5 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 public paper trail is short: the initial notice reported that no sale had yet occurred, and the January 2012 amendment reported a first sale on the same date the original notice was filed, against an unchanged total offering amount.4 Interests were sold privately to accredited investors — those meeting SEC income or net-worth tests — without general advertising.
- First Form D filedThe public offering record begins.
- Latest Form D filedThe most recent sponsor-filed checkpoint in this record.
- Filings on record
- 2
- How it may be offered
- Rule 506(b)Not advertised publicly. Offered through existing relationships.
- 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 Residence at Stonebrook?
Top1031 lists Residence at Stonebrook as historical. It is no longer raising money.
Where does Top1031 get the data for Residence at Stonebrook?
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 Residence at Stonebrook?
No. The Trust is closed to new investors. Bluerock reported selling the Nashville property on May 31, 2019 for $39.5 million and announced the transaction as a completed full-cycle event on June 18, 2019. What remains is a historical record: two Form D notices filed in December 2011 and January 2012, plus the sponsor's own reporting on the sale.
What did the sponsor report investors received?
Bluerock reported approximately $4.4 million of distributions paid at 6.5%–7.0% annual rates, more than $26.9 million of equity returned on an $8.7 million investment (described by Bluerock as a 3.1x return) over an approximately 7.5-year hold, and — including distributions — a 364% total return and 48.5% average annual return. These are sponsor-published figures for a completed transaction; Top1031 has not independently verified them.
Why do the SEC filings show only a small amount sold?
Because the last Form D amendment was filed January 13, 2012, only weeks after the first sale. No later amendment appears on the record, so the public filings capture the earliest stage of the raise rather than any final total. Bluerock later described the investment as $8.7 million of equity in its 2019 full-cycle announcement.
Where is the property, and who owns it now?
Bluerock's property page identifies 121 Hickory Trace Drive, Nashville, TN 37211, a Class B garden-style apartment community. A current Rent.com listing for that same address states the community is managed by Morgan Properties, which speaks only to present-day management, not to the DST. No source located in research identifies the buyer in the 2019 sale or the current owner.
What does "full-cycle" mean for a DST?
A DST is a passive, single-purpose trust: investors buy beneficial interests that qualify for 1031 like-kind exchange treatment, and the trust holds the property until it is sold. "Full-cycle" means that final step happened — the property was sold and proceeds were distributed, ending the program. Bluerock characterized this Trust's May 31, 2019 sale as such an event.
Chapter 9Bluerock Announces One of The Most Successful Full Cycle Events in the History of Securitized 1031 DST ProgramsBluerock announced the successful sale and full-cycle event for the Residences of Stonebrook, a 320-unit Nashville apartment community acquired in December 2011 through BR Stonebrook, DST.