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Bluerock Value Exchange Launches $37.8 Million 1031 Exchange BR Churchill Downs Multifamily DST in Pinehurst, NC
Bluerock Value Exchange Launches $37.8 Million 1031 Exchange BR Churchill Downs Multifamily DST in Pinehurst, NC

Yahoo

time20-06-2025

  • Business
  • Yahoo

Bluerock Value Exchange Launches $37.8 Million 1031 Exchange BR Churchill Downs Multifamily DST in Pinehurst, NC

NEW YORK, June 20, 2025 /PRNewswire/ -- Bluerock Value Exchange (BVEX), a 20-year, national sponsor of 1031 exchange and Delaware Statutory Trust (DST) investment programs, announced the launch of its latest 1031 exchange/DST offering known as BR Churchill Downs, DST ("Churchill Downs" or "DST") which is seeking to raise approximately $37.8 million from accredited investors. Churchill Downs multifamily offering represents BVEX's 42nd individual DST program. BVEX believes Churchill Downs represents an attractive investment opportunity in a unique low-density, direct-entry townhome and garden-style apartment community located in the Pinehurst, North Carolina Metro, which ranks in the top 10 among all small market regions in the U.S. and is known as the home of American Golf.1,2 The DST seeks to provide investors with monthly cash flow, the potential for appreciation driven by strong economic and population growth in the region, as well as the opportunity to significantly grow rental income through a targeted unit value-add / upgrade program. "We believe this is a very timely and favorable entry point for investing in apartments. The sector is poised to greatly benefit with forecasted increasing rents driven by a significant decline in new construction, which is leading to undersupply of housing options, the high cost of home ownership compared to renting, and continued high household formation," said Josh Hoffman, President of BVEX. "We selected Churchill Downs due to its well-respected national metro recognition and high growth location and the value-add / upgrade investment opportunity, which we believe can generate a great return on investment for investors," added Hoffman. About Bluerock Value Exchange With a 20-year track record, Bluerock Value Exchange is a national sponsor of syndicated 1031-exchange offerings with a focus on Premier Exchange Properties™ that seek to deliver stable cash flows and potential for value creation. Bluerock has structured 1031 exchanges of more than $2.8 billion in total property value and more than 14 million square feet of property. Additional information can be found at About Bluerock Bluerock is a leading institutional alternative asset manager with more than $19 billion of acquired and managed assets headquartered in Manhattan with regional offices across the U.S. Bluerock principals have a collective 100+ years of investing experience with more than $120 billion real estate and capital markets experience and have helped launch leading private and public company platforms. Additional information can be found at 1 POLICOM 2024 Economic Strength Rankings, Pinehurst Metro ranked #10 (out of 543) micropolitan regions in the nation. 2 Moore County Economic Development Partnership. View original content to download multimedia: SOURCE Bluerock Value Exchange

Flood of tributes for Minnesota Democrat killed in ‘targeted violence'
Flood of tributes for Minnesota Democrat killed in ‘targeted violence'

Yahoo

time15-06-2025

  • Politics
  • Yahoo

Flood of tributes for Minnesota Democrat killed in ‘targeted violence'

Colleagues paid tribute to Melissa Hortman, the top Democratic lawmaker in the Minnesota state house of representatives who was killed on Saturday, with Governor Tim Walz saying the state 'lost a dear leader and I lost the dearest of friends'. Hortman was killed along with her husband, Mark, in what Democratic colleagues in the state described as an act of 'targeted political violence'. Fellow lawmaker Josh Hoffman and his wife were also shot, reportedly by the same gunman, and are expected to survive. The former speaker of the chamber, Hortman, 55, was serving her 11th consecutive term as a state legislator when she was assassinated, apparently by a man impersonating a police officer, at her home in Brooklyn Park, a suburb north-west of Minneapolis. Hortman represented a reliably safe Democratic district in which she won re-election repeatedly by significant margins. She played a key role in passing recent legislation expanding abortion rights, legalizing marijuana for recreation, and requiring family and medical paid leave from employers. After Democrats and Republicans won an equal number of seats in the House last year, Hortman led a boycott of the early weeks of the legislative session while the results of two seats were challenged. A Republican, Lisa Demuth, then took over as speaker. Hortman was praised for her work ethic, negotiation skills and pragmatism. 'She had a vision of what she wanted the state to be like, and she knew it was going to take a lot of work,' her former campaign manager Jerry Gale told the New York Times. Gale said Hortman worried about her safety: 'I think it did cross her mind at times on the campaign trail,' he said. US senator for Minnesota Amy Klobuchar said she was heartbroken by the loss of her friend in a post on X. Related: The attacks on Democratic lawmakers in Minnesota: what we know 'Melissa was a good friend and we started in politics at the same time and were always there for each other,' she said. 'She was a true public servant to the core, dedicating her life to serving Minnesotans with integrity and compassion. 'Melissa's legacy will endure, but today we grieve deeply,' Klobuchar added. Hortman and her husband had two children, according to her state legislative biography. She entered politics after earning a degree in political science from Boston university; a law degree from Minnesota law school; and a master's in public administration from the Kennedy school at Harvard. She also interned for former US senator Al Gore and served as a legislative correspondent for former senator John Kerry. Walz was the first to say that Hortman and her husband had been targeted in what appeared to be a 'politically motivated assassination'. Ken Martin, the chair of the Democratic National Committee (DNC), said in a statement: 'Speaker Hortman was a leader in every sense of the word – from ushering in free lunch for our kids, to protecting women's rights and reproductive care, to standing up for Minnesota families. 'She led our state legislature with humor, grace, and determination to get things done for Minnesotans across the state.'

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