BR Four Corners Orlando, DST reached full cycle through the sale of its property. The record for the Delaware Statutory Trust (DST) offering carries a single disposition date, and it does not distinguish whether that date marks the closing or the sponsor's announcement of it. Bluerock Value Exchange lists the program as completed and full cycle in the track record it publishes in a program private placement memorandum posted on its site.
The Trust's first Form D, filed March 3, 2016, sets the offering amount and minimum investment below and classifies the offering as Residential. It carries no performance figures. No later amended offering amount appears on the filing record here, and the private placement memorandum that would set out the Trust's distribution terms is not on the public record.
Item | Detail |
|---|---|
Sponsor | Bluerock Value Exchange |
Exemption | 506(b) |
First Form D | March 3, 2016 |
Offering amount as filed | $16,421,134 |
Minimum investment | $225,000 |
Disposition type | Property sold |
Disposition date on record | August 6, 2019 |
Sale price | $51.3 million, as reported by the sponsor in its full-cycle announcement |
Equity multiple | 1.66x, as reported by the sponsor in its full-cycle announcement |
Annualized return | 19.2%, as reported by the sponsor in its full-cycle announcement |
Two clocks run on this hold, and they start at different events. Top1031 places the hold at three and a half years, measured from the first Form D to the disposition date on record. The sponsor measures from acquisition instead, and its announcement is titled to the program full cycling within three and a half years of acquisition. The acquisition date itself is not on the record here.
Every performance figure above originates with the sponsor, and no independent audit of the result is on the record. What each holder owes on the sale turns on that investor's own basis and exchange history.