BR Sonoma Pointe, DST
1300 SANTA ROSA DRIVE, KISSIMMEE, FLORIDA 34741
Offering Purchase Price: $44,533,951
Equity Amount: $18,803,951
- Loan Amount: $25,730,000
- Purchase Price per Unit: $202,969
- Projected Hold Period: Approx. 7-10 Years
- Assumed Debt (0.52649% interest): $135,465
Bluerock Value Exchange, LLC (“BVEX”) will seek to add value to the Property through the implementation of the following items (further detailed in “Business Plan” section of the Memorandum):
Use creative marketing initiatives incorporating local businesses, vendors, sponsorships, and specialized internet search engines;
1300 SANTA ROSA DRIVE, KISSIMMEE, FLORIDA
The Property features high-quality construction and a modern living space in one, two, and three bedroom apartment homes. Located on approximately 13.5 acres in Kissimmee, residents enjoy proximity to 130,000+ jobs, abundant shopping and restaurants, and nearby recreational lakes.
Key Investment Considerations
- Orlando’s economy is booming with a low 3.6% unemployment rate driven by a 4.2% job growth rate in the last three years, more than double the national average.
- Orlando was the #1 Metro for job growth and the #2 Metro for population growth in the U.S. in 2016 (Orlando).
- Orlando attracted 68+ million visitors in 2016, the most of any U.S. city ever.
- Orlando is ranked second in Forbes “America’s Fastest-Growing Cities 2017.”
- 12 jobs were created for every one multifamily unit permitted, during the last 7 years in Orlando.
- 130,000+ jobs within a 20-minute drive including the Loop/Loop West, Tupperware Brands, South Orlando Commercial Core, NeoCity, Lake Nona
Medical City, Darden Restaurants Headquarters, Orlando Theme Parks and the Orlando International Airport. - High occupancy multifamily market with Orlando and Kissimmee posting 95.6% and 96.4% occupancy rate, respectively.
Business Plan
- Use creative marketing initiatives incorporating local businesses, vendors, sponsorships, and specialized internet search engines;
- Implement state-of-the-art computerized revenue management, leasing, and reputation management systems and programs to maximize revenues;
- Upgrade fixtures and furnishings for leasing office, clubhouse, fitness center, model unit and courtyard spaces, pet park, and car wash areas;
- Upgrade and refresh to the landscaping to enhance curb appeal at the Property’s entrance, clubhouse, and amenity areas;
- Upgrade LED Lighting in all common areas and institute a nationally recognized third-party property management company to oversee an on-site
management team of experienced and enthusiastic professionals.
Regional Overview
The Property is centrally located within 20 minutes commuting distance to more than 130,000 jobs among Orlando’s largest employment centers including Tupperware Headquarters, Lake Nona Medical City, Darden Restaurants, Orlando Theme Parks, and the Orlando International Airport. The Property also offers immediate access to abundant shopping with the Loop/Loop West, a 1 million + square feet development of retail, dining, and entertainment which includes: Regal Cinema, Bed, Bath & Beyond, Kohl’s BJ’s Restaurant, Bonefish Grill, and Panera Bread across the street and The Crosslands, a Fresh Market anchored center with a HomeGoods and PetSmart, just half a mile away. The Property is also located very near the border of Hunters Creek, a planned community comprised of upscale residential neighborhoods, parks, and lakes.
The immediate area benefits from proximity to two hospitals, both in Kissimmee: the Florida Hospital Kissimmee and the Osceola Regional Medical Center. Osceola Regional Medical Center is a 332-bed hospital, built in 1997 with $125 million in expansions since its initial construction.
Local Overview
The Property is centrally located within 20 minutes commuting distance to more than 130,000 jobs among Orlando’s largest employment centers including Tupperware Headquarters, Lake Nona Medical City, Darden Restaurants, Orlando Theme Parks, and the Orlando International Airport. The Property also offers immediate access to abundant shopping with the Loop/Loop West, a 1 million + square feet development of retail, dining, and entertainment which includes: Regal Cinema, Bed, Bath & Beyond, Kohl’s BJ’s Restaurant, Bonefish Grill, and Panera Bread across the street and The Crosslands, a Fresh Market anchored center with a HomeGoods and PetSmart, just half a mile away. The Property is also located very near the border of Hunters Creek, a planned community comprised of upscale residential neighborhoods, parks, and lakes.
The immediate area benefits from proximity to two hospitals, both in Kissimmee: the Florida Hospital Kissimmee and the Osceola Regional Medical Center. Osceola Regional Medical Center is a 332-bed hospital, built in 1997 with $125 million in expansions since its initial construction.
WHY APARTMENTS?
The Millennial Generation, at more than 86 million, already exceeding that of the Baby Boomers at similar ages, is expected to increase over the next 20 years as immigration (typically of young adults) continues to pick up.
Although they are only now beginning to live on their own, Millennials will likely form even more households than the gen-Xers and even the Baby Boomers. In fact, according to a recent study by the National Multifamily Housing Council (NMHC), the nation is projected to add 4.6 million new renter households by 2030.
About Bluerock Value Exchange, LLC
BVEX is a national sponsor of syndicated 1031 exchange offerings with a focus on Class A assets that can deliver stable cash flows and have the potential
for value creation. BVEX is an affiliate of Bluerock Real Estate, L.L.C., a private equity real estate investment firm that sponsors a portfolio currently exceeding
25 million square feet of primarily apartment and office real estate, including approximately $1.1 billion in total property value and over 7.5 million square
feet of property. Bluerock’s senior management team has an average of over 25 years investing experience, has been involved with acquiring over 35 million
square feet of real estate worth approximately $10 billion, and has helped launch leading real estate private and public company platforms.