2023 was an active year despite economic headwinds. BV Capital closed on two new parcels of land for future multifamily developments in Denton and Arlington, TX. Additionally, events included the completion of Bridgeview’s First Delaware Statutory Trust (DST) while launching our 2nd DST for 1031 exchange investors, our 1st land recapitalization, and continued work on current projects. Learn about our new offerings raised and ongoing deal updates in this article.
...Because of declining occupancy, and rental rates, BridgeView founder and President Steve May said that multifamily starts are down across all Texas markets. But because the rates of inmigration to the state remain high, May said there is still an appetite for housing that is unlikely to be satisfied at the single-family level because of high interest rates, as well as low supply. That segment of the market, he said, will turn to multifamily product as a viable housing solution.
...On August 31st, 2023, BV Capital’s New Braunfels Land investors realized a 34% return over a 20-month hold period. This accomplishment signifies the first of several land offerings in Texas facilitated by BV Capital to progress from land purchase to recapitalization and sale into the next deal phase, development.
...BV Capital and its investors have funded the acquisition and development of nearly 30 acres of prime land for affiliate Bridgeview Multifamily LLC to build class A apartment projects in the North Texas cities of Arlington and Denton.
“Having side-by-side developments makes good economical sense. It will create economies of scale for our general contractor, Bridgeview Construction.” says Rob Anderson, president of BV Capital.
...Marking its inroad into the Delaware Statutory Trust market, BV Capital has fully subscribed Bridgeview‘s inaugural offering, BV Design Multifamily DST, raising $31.14 million for the acquisition and renovation of a 214-unit class A project in Dallas’ eclectic Design District.
“We saw The Dunhill as an excellent opportunity to provide the DST space with a value-add, core-plus investment at a five-star location,” says Rob Anderson, BV Capital’s president. “It’s rare to see a product of this caliber in the DST marketplace.”
...Investing in triple net properties provides you the opportunity to partake in an investment project while eliminating the expenses and time-consuming duties of managing the property yourself.
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