Sacramento Rehabilitation Hospital
Healthcare (neuro-rehabilitation hospital) property in Sacramento, CA — sponsor not disclosed
Files with the SEC as BV Ernest Health Neuro Rehab DST
Sponsor not disclosed
Minimum investment
$50k
Offering size
$77.7M
How much has sold
46.0%
Asset type
Healthcare (neuro-rehabilitation hospital) property
Location
Sacramento, CA
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
BV Ernest Health Neuro Rehab DST is a Delaware statutory trust — fractional real estate ownership structured to qualify for a 1031 exchange — sponsored by Bridgeview Real Estate Exchange.1 It owns Sacramento Rehabilitation Hospital, a 50-bed neuro-rehabilitation hospital leased to and operated by Ernest Health.2 The Trust is still raising from accredited investors, those meeting SEC income or net-worth tests, against a $77,667,582 offering amount reported to the SEC.1
0% LTV; min $100k (1031)/$50k cash; 95% occ (12/31/24); tenant Ernest Health, 20-yr NNN; 5.70% target dist
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These links support the public record as a whole; 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?
Bridgeview's fact sheet reports that the hospital opened in January 2023.4 California's Department of Health Care Access and Information lists the facility as an open, licensed general acute care hospital.3 On August 24, 2026 Ernest Health named it among nine of its facilities in U.S. News & World Report's 2026–27 rehabilitation rankings; on September 2, 2026 it reported the hospital on Newsweek's 2026 best physical rehabilitation centers list.
- Property address
- 10 Advantage Ct, Sacramento, CA
- Property size
- 50 beds
Who is the tenant, and what's the lease?
Ernest Health, which operates rehabilitation and long-term acute-care hospitals, is both the tenant and the operator here.2 Bridgeview's fact sheet reports a 20-year absolute-net lease running through January 4, 2043, with two 10-year tenant options and annual rent escalations.4 Absolute net means the tenant, not the Trust, carries taxes, insurance, and structural upkeep.
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
46.0% reported sold
- Amount sold
- $35,620,141
- Still available
- $42,047,441
- Investors reported
- 122
- Total offering
- $77,667,582
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How is it financed, and what does it pay?
Bridgeview's fact sheet describes the Trust as carrying no mortgage debt, with capitalization supported solely by cash flow from the tenant lease and no sponsor obligation to contribute capital; the classification carried on this record reads the other way.4 No Form D names a lender, so the loan section of the PPM — the private placement memorandum — controls.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
The amended Form D names Bridgeview Real Estate Exchange LLC as sponsor, BV Vibra DST LLC as depositor, and BV Ernest Manager LLC as administrative trustee.1 AltsWire reported the launch of the offering on April 28, 2025, describing it as a zero-debt deal backed by the Sacramento hospital.5 Top1031 tracks no other Bridgeview offerings, so no sponsor-level program history appears on this record.
- Sponsor
- Sponsor not disclosedThe filing does not identify a sponsor we can confirm.
- Legal Trust name
- BV Ernest Health Neuro Rehab DST
- May convert to a REIT
- No
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The record is an initial Regulation D notice of an exempt offering, later amended to update the amount raised and the investor count; that amendment reports a first sale on April 17, 2025.1 Rule 506(c) lets a sponsor advertise publicly but requires it to verify each investor's accredited status rather than accept self-certification.
- 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(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
Is Sacramento Rehabilitation Hospital still raising money?
Top1031 lists Sacramento Rehabilitation Hospital as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Sacramento Rehabilitation Hospital?
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.
What property is behind this Trust?
Sacramento Rehabilitation Hospital, a 50-bed neuro-rehabilitation hospital at 10 Advantage Court, Sacramento, California. California's Department of Health Care Access and Information lists the facility at that address with 50 licensed beds, licensed as a general acute care hospital, with a status of open. Bridgeview's fact sheet reports the hospital opened in January 2023.
Who is the tenant, and what kind of lease is in place?
Ernest Health, an operator of rehabilitation and long-term acute-care hospitals, is the tenant and runs the facility. Bridgeview's fact sheet reports a 20-year absolute-net lease through January 4, 2043, with two 10-year tenant options and annual rent escalations. Absolute net means the tenant is responsible for taxes, insurance, and upkeep, so the Trust owns the building and collects rent. The lease document and the private placement memorandum control the binding terms.
Does the Trust carry a mortgage?
The public record is not consistent. Bridgeview's fact sheet describes the Trust as carrying no mortgage debt, funded by investor equity, while the financing classification carried on this record points the other way. The Form D filings name no lender and disclose no loan terms either way, and no deed or mortgage instrument was located in the reviewed sources. The loan section of the private placement memorandum is where to settle this before committing exchange funds.
What does the sponsor say about occupancy and patient referrals?
Bridgeview's fact sheet reports 95% average occupancy at the hospital as of December 31, 2024, and states that the facility has active overflow referral agreements with Kaiser Permanente and UC-Davis Medical Center. Those are sponsor-reported figures and arrangements as of that date; the private placement memorandum and any referral agreements themselves are the binding record.
Is the Offering still open?
The Trust is listed as raising. Its most recent Form D amendment was filed April 22, 2026, reporting a total offering amount of $77,667,582 and a first sale dated April 17, 2025. A Form D is a dated snapshot rather than proof of today's availability, so confirm current status with the sponsor or your representative before identifying this Trust on a 45-day list.
What is the minimum investment?
The Form D filings report a $50,000 minimum accepted from an outside investor. Bridgeview's own offering page lists a $100,000 minimum for Section 1031 exchange investors and $50,000 for cash investors. The private placement memorandum and subscription documents state the binding minimums, and a sponsor may accept a lower amount at its discretion.
Chapter 9Bridgeview Launches $77M BV Ernest Health Neuro DST With 50-Bed Sacramento Rehabilitation HospitalRegional business journal coverage of the Bridgeview launch of the BV Ernest Health Neuro Rehab DST, a zero-debt offering tied to a 50-bed Sacramento rehabilitation hospital at 10 Advantage Court.