Representational rendering of the future development

now open: Multifamily Development

BVCAP Mansfield Investors LLC

open offering: Multifamily Development

BVCAP Mansfield Investors LLC

Estimated Investor Multiple

1.7x-2.0x*

Estimated Hold Period

36-42 MO.

Offering Overview

1.7x-2.0x*

Estimated Investor Multiple

36-42 MO.

Estimated Hold Period

BV Capital LLC is pleased to present an opportunity to invest in the development of 388 multifamily units located in one of the fastest growing suburbs in the Dallas-Fort Worth MSAs, Mansfield, Texas. The Property will be purchased from an affiliate of Bridgeview and the Manager, and directly held by BV Alexander LLC (the “Project Holding Company”), and the Company will own 95% of the Project Holding Company (with the remainder 5% being contributed by Bridgeview).

Bridgeview Multifamily LLC (the “Developer” or “Bridgeview”), an affiliate of the Sponsor, will be the manager of the Project Holding Company. The Project total construction cost is estimated to be $102.8 million ($265k per residential unit).  Bridgeview Construction LLC, an affiliate of the Sponsor, will be the general contractor for the Project Holding Company and is estimating to break ground in Spring of 2024.

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

* 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.

Representational rendering video of the future development

The Project: Ground Up Multifamily Development

'THE ALEXANDER'

1725 E Broad Street

Mansfield, TX 76063

The Alexander Development - Mansfield TX

Rendering of future development

388
Number of Units
SPRING 2024
Estimated Construction Start Date

The Property will be developed on approximately 7.78 acres of raw land located in the North side of Mansfield, Texas along the high growth, Interstate-287 southeast of Fort Worth within Tarrant County.

On the Property, Bridgeview intends to construct a 388-unit “Class A” multifamily wrap style residential community containing 447,733 gross square feet and approximately 339,430 net rentable square feet (average of 875 square feet per unit), for lease to future residents.

The Project will be named 'The Alexander'. The Project will include market-leading amenities such as two resort style pools with tanning ledges, outdoor lounge with fireplace, clubhouse (open 24 hours), state of the art athletic center, private media room, co-working spaces, EV charging stations, secured parking garage, dog yards (on select units), pocket parks, access to the city trail system, and walking access to restaurants and retail shops.

UNIT FEATURES

  • Expansive 10’ Ceilings
  • Wood-Style Flooring in Kitchen, Living & Dining Areas
  • Upgraded, Energy Star Stainless Steel Appliances
  • Quartz Countertops with Under-Mount Sinks
  • Stain-Grade Cabinets
  • Private Patios or Balconies
  • Linen Closets & Kitchen Pantries
  • Backlit Vanity Mirrors
  • Double Vanities and Walk-In Showers*
  • Gourmet Prep Islands with Pendant Lighting*

*Select Units 

COMMUNITY FEATURES

  • Two resort style pools with tanning ledges, a lap section, and private cabanas 
  • EV Charging Stations
  • Two Outdoor Grilling Areas
  • Outdoor Lounge with Fireplace
  • Two Pocket Parks
  • Secured Parking Garage
  • Clubhouse
  • State of the Art Athletic Center
  • Co-Working Spaces
  • Private Media Room
Courtyard Plans

image gallery

Mansfield, TX

Mansfield, nestled within the dynamic Dallas-Fort Worth Metroplex, has emerged as a vibrant and rapidly growing community. Mansfield's neighborhood amenities and demographics set it apart from the rest of the submarket.

  • Population growth 3.19% year over year projected in a 3-mile radius (2023-2028)
  • Multifamily Demand is Outpacing Supply in the Market
  • Diverse and Financially Stable Economic Base
  • Average household income of $131,454 in a 5-mile radius
  • One of the highest rated school districts in the greater DFW area
  • Close proximity to both Fort Worth and Dallas

The median household income in the city is more than double that of the overall submarket, and the town has been competitive in bringing new business to the area. The project, 'The Alexander'  is strategically situated to leverage this area's growth.

Bridgeview has conducted a thorough market analysis to understand the local demand for rental units and identify the target market. This analysis has considered factors such as population growth, demographic trends, employment rates, and rental prices in the area to ensure the success of the project.

SOURCES: All Market Demographics from: CBRE 2023

Market Location - Mansfield, TX
Mansfield TX Location

Distances from Mansfield, TX

Key Advantage

The Alexander will benefit from being a wrap project and for being part of the Shops at Broad mixed-use retail and entertainment district. Based on research provided by JLL and IPA brokerage companies out of 70 comparable Class A multifamily properties sold since 2021 a wrap style construction project on average trades at a cap rate of 25 basis points less than a garden style construction project in the same submarket (lower cap rate equals a higher value), demonstrating how construction type can impact cap rates in real-world transactions.


The Alexander will be the only wrap style multifamily property in Mansfield and arguably the nicest property within a 20-mile radius. The walkability of the Shops at Broad, the high demand and income levels in Mansfield combined with the wrap style project premium mentioned above should produce a high exit value upon stabilization.


Project Location Highlights

Strategically located in a desirable suburban area, The Alexander will be situated for easy access to major employment centers and entertainment hotspots. Positioned off key highways, residents will enjoy quick connectivity to Greater DFW and various employment hubs, such as the General Motors Assembly Plant, Medical City Arlington, Lockheed Martin, American Airlines Headquarters, and other local businesses, ensuring access to high-wage employment opportunities.

  • Located within a thriving mixed-use master planned center
  • Location provides Ease of Access to Major Highways
  • No Zoning Changes Needed - Ready to Break Ground

The Shops at Broad is a mixed use development located at the corner of Broad street and Hwy 287. This mixed use development is where The Alexander is located and will provide our future tenants access to stores such as Academy Sports and Outdoors, At Home, Belk, and TJ Maxx.

The Shops at Broad also boasts an impressive list of restaurants within walking distance and offers entertainment and services including the Children's Health StarCenter Ice Rink, Flix Brewhouse moving theatre, a med spa, and a pet grooming facility.

The Shops at Broad Directory

  • dining

  • shopping

  • services

  • Entertainment

  • 54th St.
  • Torchy’s Tacos
  • Pei Wei
  • McAlister's Deli
  • Coldstone Creamery
  • MOD Pizza
  • King Crab House
  • Cinnaholic
  • Starbucks
  • Nestle Toll House Cafe
  • Outback - Coming 2024
  • Chuy’s - Coming 2024
  • Freddy’s Steakburgers - Coming 2024
  • Carraba’s - Coming 2024
  • Portillo’s - Coming 2024
  • Boomer Jack’s - Coming 2025
Shops at Broad Mansfield TX

The Shops at Broad Map - November 2023

A brand-new H-E-B grocery store will be opening right next to our development offering economic advantages for investors. H-E-B has a reputation for quality, and can attract a demographic with a higher disposable income. Proximity to high-end grocery stores like a H-E-B is often associated with higher property values. This can lead to increased ROI for investors as properties in these areas tend to appreciate faster.

the developer

Bridgeview Real Estate

The project represents Bridgeview’s sixth multifamily ground up development in Texas. Bridgeview has an established track record of developing over 1,000 multifamily units and renovating an additional 1,000 units. 

Most recently, Bridgeview broke ground on a 288-unit project in Denton, TX called Forest Crossing and recently finished construction 184 units of phase II at Carriage Homes on the Lake in Garland, TX.


Bridgeview Multifamily Development Projects

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

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.

indication of interest


Please fill out the form below or contact BV at ir@bvcapitaltx.com for more information on the BVCAP Mansfield Investors LLC offering.

BVCAP Mansfield Investors - Deal Flyer

View our Investment flyer for a project overview and highlights of the offering.