BR Axis West, DST sold its residential property on August 8, 2022. Bluerock Value Exchange announced the disposition as one of five DST programs it had taken full cycle. Top1031's record names BR Axis West DST Manager as the Sponsor of the Offering.
The Offering was a residential equity raise made under 506(b). What it set out at the start, and what the Sponsor says it produced at the end, sit below.
Measure | Figure |
|---|---|
Offering amount, Form D filed June 4, 2018 | $31,500,683 |
Minimum investment | $100,000 |
Sale price | $86.5 million, as reported by the sponsor in its announcement |
Equity multiple | 1.42x, as reported by the sponsor in its announcement |
Average annual return | 10%, as reported by the sponsor in its announcement |
The result figures are the Sponsor's own measurements, on the Sponsor's own basis, and no public document restates them. The Trust's private placement memorandum is not a public document either, so the distribution terms and the return assumptions the Offering originally set out cannot be placed beside what the Sponsor reports. The Form D carries no performance figures.
One caution for anyone reading the release itself: the average annual return in its headline is the average across all five programs, not this Trust's own figure.
Top1031's record for the Sponsor carries seven earlier full-cycle programs alongside this one. Neither the release nor the Form D names the buyer, and the record does not disclose the property's location.