investment offering: ground-up Development

BVCAP NB Investors

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Rendering Video of Future Development

fully funded: ground-up Development

BVCAP NB Investors - New Braunfels

1.8x-2.0x*

ESTIMATED INVESTOR MULTIPLE

22%-26%

ESTIMATED INVESTOR irr

30-42 Mo.

EST. HOLD PERIOD

 submit interest

Investment Overview

Bridgeview is developing 356 multifamily units located in one of the fastest growing suburbs in San Antonio, New Braunfels, Texas. BVCAP NB Investors LLC, a Texas limited liability company, has been formed as an investment vehicle for purposes of investing in the development of 17.068 acres of land.

Bridgeview Multifamily LLC, an affiliate of the Sponsor, is the developer, and Bridgeview Construction LLC, an affiliate of the Sponsor, will be the general contractor. The Project total construction cost is estimated to be $79 million ($218,000 per residential unit).

Investors will be entitled to receive a preferred return of 8% (for Series A-1 Units) or 10% (for Series A-2 Units), calculated on an annualized basis.*  After the Project has been leased-up and achieved stabilization, the Sponsor intends for the Company to refinance or sell the Property, which is estimated to take 36 - 42 months.  Upon the sale, the payout order to investors will be the Preferred Return, followed by a full return of capital, followed by a split of profits between investors and the sponsor.  

* Due to various risks and uncertainties, actual returns may differ materially from the returns reflected. No return is guaranteed and investors risk the loss of the entire amount of their invested capital. Preferred Return is dependent on share class owned.

The Project:  Landhaus at Gruene - Multifamily Development

Bridgeview broke ground February, 2024 on a 356-unit “Class A” multifamily residential community in New Braunfels, TX. The project, named "Landhaus at Gruene" will average 847 square feet per unit for lease to future residents. The site plan aims to create a well-balanced living experience and will consist of 10.3% efficiency-bedroom units, 53.2% one-bedroom units, and 36.5% two-bedroom units.  This carefully planned unit mix aligns with other comparable properties in the area and meets the demands of the anticipated tenant base. The project is a farmhouse style which should blend in nicely to its Texas hill country location.  

'LANDHAUS AT GRUENE'

2080 FM 1102, New Braunfels, TX 78132

Landhaus at Gruene - BV New Braunfels
Landhaus at Grune Renderings - BV New Braunfels

All images displayed are renderings of the future development.

The Landhaus at Gruene will offer exceptional amenities that set the standard in the market. These amenities include a clubhouse featuring a 24 hour fitness center, a magnificent 2,150 square foot pool with a negative edge design, a cozy sunken fire pit lounge, and outdoor covered spaces that maximize the use of the surrounding lawn and garden areas. 

UNIT FEATURES

  • Expansive 9’ Ceilings
  • Wood-Style Flooring in Living and Dining Areas
  • Upgraded, Energy Star Stainless Steel Appliances
  • Quartz Countertops with Under-Mount Sinks
  • Stain-Grade Cabinets
  • Full-Size Washers & Dryers
  • Private Patios or Balconies
  • Linen Closets & Kitchen Pantries
  • Wrap-Around Balconies or Private Yards*
  • Double Vanities and Walk-In Showers*
  • Gourmet Prep Islands with Pendant Lighting*
  • Barn Doors and Pocket Doors*

*Select Units 

COMMUNITY FEATURES

  • Resort-Style Pool with Tanning Ledges
  • Pickleball Courts
  • Dog Park and Washing Station
  • EV Charging Stations
  • Outdoor Kitchen & Grilling Area
  • Outdoor Lounge with Fireplace
  • Private Garages & Covered Parking
  • Multi-Level Athletic Center
  • Co-Working Spaces
  • Kitchen and Lounge
  • Full-Service Coffee Bar
  • Private Media Room

Key Advantage

This project was approved by the city of New Braunfels prior to a substantial increase in the city's impact fees for new developments. This increase in impact fees is estimated to be 3x the cost for new developments in the area creating a high barrier to entry. Thus, we don't anticipate seeing many new projects moving forward to compete with us in the short term.

New Braunfels Submarket

New Braunfels is ideally located between San Antonio and Austin, which has helped make it the third fastest growing city in the nation over the past 10 years. 

  • New Braunfels has Annual Population Growth Rate of 6.6%
  • Multifamily Demand is Outpacing Supply in the Market
  • Diverse and Financially Stable Economic Base
  • 66% Population Growth Since 2012
  • Located less than 40 miles from both San Antonio and Austin

HOUSING MARKET

New Braunfels has experienced rapid growth with average rents at a historical high, currently $1,543 per month and $1.80 per square foot for comparable apartments market wide. Additionally, the New Braunfels submarket has experienced a 15.08% increase in rents over the past 12 months alone. Over the past 5 years, occupancy for the submarket has averaged 92%, with occupancy for 2022 finishing at 94%. 

Furthermore, absorption has kept up admirably over the past 24 months, absorbing 995 units, signaling strong demand for the expanding area. Currently, there are 1,532 units currently under construction and 8 projects that are planned/submitted that would be delivered in the next 5 years. The rapid expansion and population growth in New Braunfels positions our future development well for stable occupancy trends and significant rent growth in the future.

New Braunfels Distances

Distances from New Braunfels, TX

SOURCES: All Market Demographics from : RealPage, Inc. 2023; U.S. Census Bureau; American Community Survey (ACS) 5-year estimates, Growth Rate Source: IPA Marketing Analytics  

Project Location Highlights

The Property is located one mile from Interstate-35, six miles from the regional airport and less than forty miles from both San Antonio and Austin. Future residents will be positioned to take advantage of convenient access to major highways, employment corridors and to the many retail, services, and entertainment options available in the New Braunfels surrounding areas. Additionally, Comal County ISD schools rank near the top for the highest overall performing Texas school districts.

Property Location in New Braunfels and surrounding Businesses

Location of Project Site in New Braunfels 

SCHOOLS:

  • Oak Creek Elementary - 1.6 Miles
  • Canyon Middle School- 4.1 Miles
  • Canyon High School 4.3 Miles

RETAIL:

  • HEB Plus - 1.8 Miles
  • Target Plaza - 1.5 Miles

RECREATION:

  • Gruene Hall - 1.3 Miles
  • Schlitterbahn Waterpark - 3.8 Miles

Open Multifamily Development Investment

GROUND-UP DEVELOPMENT

BVCAP Mansfield Investors

Bridgeview is ready to develop "The Alexander", a new ground-up construction of 388 “Class A” units in Mansfield, TX where median household income in the is more than double that of the overall submarket.

The Alexander will benefit from being the only wrap project in the area from and being part of the Shops at Broad, a mixed-use retail and entertainment district. 

View Offering
The Alexander Development Renderings-Mansfield TX

Representational Images of Project