Top1031

The Mesa Ridge Apartment

Multifamily property in San Antonio, Texas · sponsored by Bluerock Value Exchange

Historical · soldSold Nov 2016, as reported by Bluerock Value Exchange · last Form D Feb 8, 2011Sponsor source (opens in a new tab)

The Mesa Ridge Apartment was a DST sponsored by Bluerock Value Exchange that owned a multifamily property in San Antonio, Texas (200 units). Bluerock Value Exchange sold the property in Nov 2016, as reported by the sponsor.

How it ended

Sold, result reported by the sponsor

Sold Nov 2016.

Annualized return
9.6% as reported by the sponsor
Date
Nov 1, 2016
Held
5.7 years

Sponsor document (opens in a new tab)

Bluerock Value Exchange has 3 active offerings on record →

Key facts

Minimum investment
$128,912
From the Form D
Offering size
$5,156,471
Equity offered, per the Form D
Sold
Not reported after the first Form D (Feb 8, 2011)
Form D, Feb 8, 2011
Selling commissions
$360,953 · 7.0% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
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: The Mesa Ridge Apartment. Top1031 is not a broker-dealer.
The Mesa Ridge Apartment image

The Mesa Ridge Apartment · San Antonio, Texas · Photo: bluerock.com

What did The Mesa Ridge Apartment own?

The Mesa Ridge Apartment is a garden-style Class B rental community in Northwest San Antonio. 2 Bluerock's 2011 executive summary reported the community 93% occupied as of December 31, 2010, a total purchase price of $10,941,471, and The Lynd Company engaged for on-site management. 3 The sources reviewed do not establish a closing date for the acquisition, and no deed-level ownership record was located.

Property address
4900 USAA Boulevard, San Antonio, TX 78240
Property size
200 units; 147,260 square feet; approximately 7.9 acres

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

The Trust was capitalized with both investor equity and mortgage debt. Bluerock's 2011 summary described a 10-year fixed-rate loan with an initial interest-only period, meaning early payments covered interest before principal amortization began. 3 The lender is not identified in the sources reviewed.

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$360,953 · 7.0% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$328,244 · 6.3% of offering
Form D Item 16
Broker-dealers named in the Form D
None named in the Form D
Date of first sale
Not in the Form D
Minimum investment
$128,912

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.

What does the SEC record show?

The Trust's SEC file contains a single Form D and no later amendment, so nothing after 2011 appears on the federal record. 1 It was offered under Rule 506(b), the private-placement exemption that bars general advertising and limits sales to accredited investors — buyers meeting SEC income or net-worth tests.

Legal Trust name
BR Mesa Ridge, DST
SEC CIK
1511269
First Form D
Feb 8, 2011
Latest Form D
Feb 8, 2011
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 sold
Form D$5,156,471
$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 The Mesa Ridge Apartment?
The Mesa Ridge Apartment is a Historical offering. Sold Nov 2016, as reported by Bluerock Value Exchange.
What did this Trust own?
A garden-style Class B apartment community, The Mesa Ridge Apartment, at 4900 USAA Boulevard in Northwest San Antonio, Texas. The property rows on this page carry the unit count, building area, and site size.
Was the Trust leveraged?
Yes. Bluerock's 2011 executive summary described mortgage debt alongside the equity offering: a 10-year fixed-rate loan with an initial interest-only period. The lender is not named in the sources reviewed, and no refinancing is documented in public filings.
What does "DST" mean in this context?
A Delaware statutory trust holds real estate and issues beneficial interests that the IRS treats as direct property ownership, so an investor can use them to complete a 1031 exchange. Investors are passive: the trustee and sponsor make all property decisions.
Why is there only one filing on record?
Issuers relying on Rule 506(b) file a Form D within 15 days of the first sale and may amend it annually while raising. This Trust's file shows one 2011 Form D and no amendment, so the federal record was never updated.

Sources

Show sources (7)Hide sources (7)

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.