Municipalities assess impact fees on property developers to pay for infrastructure improvements that must be built due to new property development. New development brings new residents, which can put strain on a city's infrastructure and services, including schools, libraries, water and sewerage, police and fire protection services. Impact fees are designed to offset the additional cost of maintaining these services.
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Rendering Video of Future Development
investment offering: ground-up Development
BVCAP NB Investors - New Braunfels
1.8x-2.0x*
ESTIMATED INVESTOR MULTIPLE
30-42 Mo.
EST. HOLD PERIOD
365 Units
total area
Offering Overview
BV Capital LLC is pleased to present an opportunity to invest in the ground up development of 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 30-42 months.
* 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.
updates
feb 5 2024
BV Construction has broken ground on the development.
nov 28 2023
We are excited to announce that we now have finalized debt financing in place for the New Braunfels Development Project. As you may know, this is a difficult time to get financing as many projects around the state and country are unable to move forward. This puts the Landhaus at Gruene in an advantageous position as we will most likely be the only new product to come online in the area in 2025.
The Project: Landhaus at Gruene - Multifamily Development
Bridgeview intends to construct a 356-unit “Class A” multifamily residential community. 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
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 Court
- Dog Park and Washing Station
- EV Charging Stations
- Outdoor Kitchen & Grilling Area
- Outdoor Lounge with Fireplace
- Serenity Park
- Private Garages & Covered Parking
- Clubhouse (Open 24 Hours)
- Multi-Level Athletic Center
- Co-Working Spaces
- Kitchen and Lounge
- Full-Service Coffee Bar
- Private Media Room
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.
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
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.
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.
Location of Project Site in New Braunfels
SCHOOLS:
RETAIL:
RECREATION:
the developer
Bridgeview Real Estate
BridgeView Real Estate is a vertically integrated firm that includes its own acquisition, construction, and equity arms. Bridgeview has an established track record of developing over 1,000 multifamily units and renovating an additional 1,000 units.
Combined, Bridgeview’s principals have been involved in the development, acquisition, renovation, and disposition of almost 9,000 multifamily units and 1 million square feet of commercial space as well as other real estate transactions in all, totaling more than $3 billion.
Multifamily Developments built by Bridgeview
3 ASSETS
Fully Realized
26%
Average Investor IRR
+200M
Developed Capitalization
2.36x
Average Investor Multiple
891
Units Sold
1,075
Units Developed
2,164
Units in Pipeline
36 Mo.
Average Hold Period
indication of interest
Please fill out the form below or contact BV at ir@bvcapitaltx.com for more information on the BVCAP NB Investors LLC offering.
A Veteran Owned Business
BV Capital, LLC is a wholly owned subsidiary of
*The information contained herein does not constitute an offer to sell nor is it a solicitation of an offer to purchase any security. Offers will only be made through a private placement memorandum to accredited investors and where permitted by law. Investments in the firm’s limited partnerships involve a high degree of risk, including the possible loss of your investment, and they are potentially illiquid with an uncertain liquidity date. Prospective investors should carefully review the “Risk Factors” section of any private placement memorandum. Past performance is not indicative of future results.
**BV Capital is a member of the Bridgeview family of companies based in Dallas, TX. BV Capital offers investments to existing private clients, broker dealers, registered investment advisors and family offices through BV Securities (FINRA / BROKERCHECK / Reg BI) as Bridgeview’s managing broker dealer. BV Capital manages the financial and administrative operations for Bridgeview and BV Securities offerings.**
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