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.
...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.”
...“There is an increasing concern on how inflation will affect investments. Today’s volatility and lack of cash flow options make it challenging to find tax-efficient strategies that meet investors’ goals without taking on too much risk. I get it and I’ve been there. I’ve worked with some of the largest and smartest investment advisors in the country, and many of them agree that there is another way. It’s through alternative investing and most commonly through direct investment in real estate.”
...In back-to-back off-market transactions, BV Capital and its investors have funded Bridgeview Multifamily’s acquisition of development sites in Dallas/Fort Worth and the Texas Hill Country to build two class A multifamily projects totaling nearly 800 units.
“This is the first time we’ve broken investments into two phases. This structure allows investors in the pre-development phase to have the option of receiving their return or roll it into the development phase,” Anderson says. “Thus far, it’s been well received.”
...BV Archway Real Estate Income Fund has acquired a quartet of single-tenant assets, all triple net-leased, in Texas in a fast-paced round of closings valued at more than $40 million.
These acquisitions have expanded BV Archway’s triple net-lease portfolio by 263,323 sf of class A and class B industrial and retail space in Houston, El Paso and Millsap situated 30 minutes west of Fort Worth. The average weighted lease term is 10 years for the fund’s new holdings.
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