BR Axis West, DST

BR Axis West, DST

6820 AXIS WEST CIRCLE, ORLANDO, FLORIDA 32821

Offering Price: $69,900,683

Equity Amount: $31,500,683

Institute a nationally recognized third-party
property management company to oversee anĀ on-site management team of experienced and enthusiastic professionals;
Implement state-of-the-art computerized revenue management, leasing, and reputation management systems and programs to maximize revenues;

6820 AXIS WEST CIRCLE, ORLANDO, FLORIDA 32821

The Property is located in the heart of South Orlandoā€™s booming I-4 corridor. Its new, modern, garden-style construction
showcases a top-of-the-market amentiy package in a high visibility location. The Propertyā€™s high-end finishes cater to an
affluent resident base drawn by the access to over 140,000 jobs within a five-mile radius, including Disney, Seaworld,
and the Orange County convention center.

Key Investment Considerations

  • The Property is a newly constructed garden-style with luxurious, top-of-the marketĀ amenities in the heart of South Orlandoā€™s booming I-4 corridor.
  • Orlandoā€™s economy is booming with a low 3.4% unemployment rate driven bya 3.2% job growth rate in the last five years, nearly double the national average.Ā (Source: Bureau of Labor Statistics data)
  • Orlando was the #1 MSA for job growth and the #2 MSA for population growth in 2016. (Source: Forbes)
  • With over 140,000 jobs within five miles of the Property, the Property is withinĀ a 20-minute drive to diverse employment centers including Darden Headquarters,Ā Lockheed Martin, Florida Hospitalā€“Celebration, Dr. P. Phillips Hospital, Lake NonaĀ Medical City, Neocity, and downtown Orlando. (Source: ARA Newmark)
  • The Orlando multifamily market and the Lake Buena Vista submarket are bothĀ very healthy with a 96.0% and 95.9% apartment occupancy rate, respectively.Ā 
  • Projections call for rising rents and stable high occupancy rates in both the
    Orlando market and the Lake Buena Vista submarket (the Propertyā€™s submarket).Ā (Source: Axiometrics, Inc., Annual Market Trend Report Q1 2018)
  • Orlando has been one of the nationā€™s fastest growing MSAs, with well aboveĀ average population growth since 1990 and nearly 45% population growth sinceĀ 2000. (Source: Orlando Economic Partnership)
  • Strong demonstrated unit demand with a lease-up period of less than one yearĀ and a nearly 10% increase in market rents since leasing commenced. (Source: ARAĀ Newmark)
  • Orlando attracted more than 68 million visitors in 2016, the most of any U.S.Ā city ever. (Source: VisitOrlando.com)

Business Plan

Bluerock Value Exchange, LLC (ā€œBVEXā€) will seek toĀ add value to the Property through the implementationĀ of the following items (further detailed inĀ theā€œBusiness Planā€ section of the Memorandum)

Regional Overview

Orlando Metroā€™s trailing 12 month 4.6% employment growth rate was triple the nationalĀ average through February 2018 and its 3.4% unemployment rate is well below theĀ national 4.4% rate. These indicators speak to the regionā€™s ability to attract newĀ talent from elsewhere in the United States and abroad. The Metroā€™s fastest growingĀ industries during the last year have been education and health services, construction,Ā and trade. The leisure and hospitality sector, Orlando Metroā€™s largest, grew 8.6% andĀ added the most jobs of any single category (22,000).

According to the Appraisal, ā€œOrlando is one of the fastest growing metros in the nationĀ and has seen job growth over twice the national average since 2014. The healthy laborĀ market has contributed to both strong recent demand and an increase in youngerĀ renters. Furthermore, the University of Central Florida provides a steady stream ofĀ renters to much of the metro, particularly the Southeast Submarket. As the second largestĀ university in the country by enrollment (more than 65,000), it houses onlyĀ about 20% of its students, leaving plenty of renters looking for additional housing.ā€Ā 

Tourism also plays a vital role in Orlandoā€™s economy. Orlando Metro is one of the
worldā€™s premier travel destinations with more than 68 million annual visitors, an all timeĀ record for the U.S. travel industry, solidifying Orlando Metroā€™s position as the mostĀ visited destination in the nation. Many new theme parks are delivering soon and in theĀ pipeline further bolstering Orlandoā€™s future tourism prospects.

To accommodate the growth and visitor traffic, large infrastructure improvements are inĀ process including:

1. The I-4 Ultimate Improvement Project ā€“ a 21-mile makeover spanning multipleĀ Countiesā€™ widening existing roads, reconstruction of interchanges, and addingĀ Sunrail connections. The I-4 corridor, which runs northeast to Daytona andĀ southwest to Tampa, continues to draw large migration and major demand into theĀ area.

2. Orlando International Airportā€™s $3 billion capital improvement project ā€“ additionsĀ of an Automated People Mover, terminal enhancements, and gate additions.

Local Overview

The Property is located in south Orlando, along Interstate 4, nearĀ Seaworld. In addition to its proximity to tourist attractions includingĀ Seaworld, Disney, Discovery Cove, and Universal Resort Orlando, theĀ Property is also within close proximity to the South Orlando CommercialĀ Core featuring major employers such as Lockheed Martin, DardenĀ Corporate Headquarters, Tupperware Brands, and Whirlpool. The OrangeĀ County Convention Center is also located approximately two miles fromĀ the Property. The Propertyā€™s central location also makes it accessible toĀ Orlandoā€™s largest employment centers, within an approximate 20-minuteĀ drive to downtown Orlando, Lake Nona Medical City (a master-plannedĀ community of life science companies), and Neocity, a 500-acre technologyĀ campus.

The Property is also located approximately one mile from the Dr. PhillipsĀ community, an area named after Dr. Phillip Phillips, a Central Florida
citrus pioneer. Some of the thousands of acres of orange groves he onceĀ owned comprise the present day mixed-use enclave consisting of homes,Ā public schools, a Center for the Performing Arts, Restaurant Row (diningĀ district with more than 60 restaurants), and the Dr. P. Phillips Hospital withĀ more than 12,000 admissions and 80,000 emergency department visitsĀ annually. The community sits amid a chain of small lakes with ampleĀ recreation opportunities. Home prices tend to be higher in the communityĀ with a median list price of $182 per square foot vs. the Orlando averageĀ of $139 per square foot, reflecting its desirability. NeighborhoodĀ Scout reports that Doctor Phillips is among the 15% highest incomeĀ neighborhoods in America.Ā 

WHY APARTMENTS?

The “Millennial Generationā€, at more than 86 million and already exceeding that of the ā€œBaby Boomersā€ at similar ages, is expected to
increase over the next 20 years as immigration (typically of young adults) continues to increase.Ā Ā 

Although they are only now beginning to live on their own, ā€œMillennialsā€ will likely form even more households than the ā€œGen-Xersā€ and
the ā€œBaby Boomersā€. In fact, according to a recent study by the National Multifamily Housing Council (ā€œNMHCā€),Ā the United States is projected to add 4.6 million new renter households by 2030.Ā 

About Bluerock Value Exchange, LLC

BVEX is a national sponsor of syndicated 1031 exchange offerings with a focusĀ 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 privateĀ equity real estate investment firm that sponsors a portfolio currently exceeding
25 million square feet of primarily apartment and office real estate, includingĀ approximately $1.1 billion in total property value and over 7.5 million square
feet of property. Bluerockā€™s senior management team has an average of overĀ 25 years investing experience, has been involved with acquiring over 35 million
square feet of real estate worth approximately $10 billion, and has helpedĀ launch leading real estate private and public company platforms.

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