Bluerock Sells San Antonio Apartments via 1031 Exchange

A division of the firm purchased the 320-unit Class A community, which is located within The Dominion Country Club, last October.

Bluerock Value Exchange, a division of Bluerock Real Estate and national sponsor of syndicated 1031 Exchange offerings, has sold Grand at the Dominion via a 1031 exchange. The Class A property is located within The Dominion Country Club on The Alamo’s northwestern outskirts. The company acquired the San Antonio multifamily asset in late 2017 from Embrey Partners.

The 320-unit, pet-friendly community was built in 2016 and consists of 16 two- and three-story buildings on more than 21 acres. The property’s address is 23910 West Interstate 10. The area features an abundance of upscale shops, such as The Rim and The Shops at La Cantera, while entertainment options include hiking, biking and golfing. The community includes one- to three-bedroom units averaging 1,018 square feet and featuring private balconies/patios, high ceilings, washer/dryer in select units and outside storage. Common-area amenities include:

  • controlled access
  • fitness center
  • business center
  • clubhouse
  • swimming pool with cabanas
  • outdoor fireplace
  • theater
  • indoor golf simulator
  • billiards
  • 481 parking spaces

Bluerock Value Exchange, which has structured 1031 exchanges on more than 7.5 million square feet of property, was formed to deliver high-quality, Class A 1031 replacement properties, with the capacity for attractive current cash flow and future value creation,” Josh Hoffman, president of BVEX, said in prepared remarks. “As an established sponsor with strong, proven performance, we continue to see significant demand for our top-tier, investment-grade properties like Grand Dominion.”

Images courtesy of Yardi Matrix