Bluerock Value Exchange (BVEX), a long-time, national sponsor of 1031 exchange and Delaware Statutory Trust investment (DST) programs, announced it has fully subscribed BR Diversified Industrial Portfolio I, DST (DIP I) program with $46.5 million in equity from third-party investors and $36.5 million in first mortgage proceeds.

“Our conservative investment strategy helped us to empower investors to be secure, free, and generous in 2023,” said Warren Thomas, a managing partner at ExchangeRight.

“We couldn’t be more pleased to help investors achieve their 1031 goals, as evidenced by the overwhelming response to HREX Multifamily I DST.”

Joshua Ungerecht, a managing partner at ExchangeRight, shared that the Essential Income REIT’s consistently strong tax-equivalent yields have made it an attractive offering for retired investors looking for tax-advantaged income.

Advisors, representatives, and their clients entrusted over $360 million of equity in ExchangeRight DST offerings in 2023, resulting in ExchangeRight growing its market share by more than 20% year over year.

The investment reinforces NexPoint’s commitment to life sciences real estate, which continues to be a key area of growth across NexPoint’s real estate platform.

Since 2018, Capital Square has taken 27 DST offerings full-cycle that have resulted in an average 171.59% total return and an average 13.40% internal rate of return.

The offering contains 15 properties in 15 markets diversified across 13 states and 9 historically recession-resilient tenants, including FedEx, Tops Friendly Markets, Dollar General, Tractor Supply, and BioLife. 

The asset was sourced by Hines Global Income Trust Inc., a division of Hines which acquired the Class A office building in July 2022 from Stonelake Capital Partners for $145 million.