Overview

BV Capital LLC is pleased to present an opportunity to invest in the development of 388 multifamily units located in one of the fastest growing suburbs in the Dallas-Fort Worth MSAs, Mansfield, Texas. The Property will be purchased from an affiliate of Bridgeview and the Manager, and directly held by BV Alexander LLC (the “Project Holding Company”), and the Company will own 95% of the Project Holding Company (with the remainder 5% being contributed by Bridgeview). Bridgeview Multifamily LLC (the “Developer” or “Bridgeview”), an affiliate of the Sponsor, will be the manager of the Project Holding Company. The Project total construction cost is estimated to be $102.8 million ($265k per residential unit). Bridgeview Construction LLC, an affiliate of the Sponsor, will be the general contractor for the Project Holding Company and is estimating to break ground in Spring of 2024. Investors will be entitled to receive a preferred return of 8% (for Series A-1 Units) or 10% (for Series A-2 Units), calculated on an annualized basis.* After the Project has been leased-up and achieved stabilization, the Sponsor intends for the Company to refinance or sell the Property, which is estimated to take 36 - 42 months. Upon the sale, the payout order to investors will be the Preferred Return, followed by a full return of capital, followed by a split of profits between investors and the sponsor. The Property will be developed on approximately 7.78 acres of raw land located in the North side of Mansfield, Texas along the high growth, Interstate-287 southeast of Fort Worth within Tarrant County. On the Property, Bridgeview intends to construct a 388-unit “Class A” multifamily wrap style residential community containing 447,733 gross square feet and approximately 339,430 net rentable square feet (average of 875 square feet per unit), for lease to future residents. The Project will be named 'The Alexander'. The Project will include market-leading amenities such as two resort style pools with tanning ledges, outdoor lounge with fireplace, clubhouse (open 24 hours), state of the art athletic center, private media room, co-working spaces, EV charging stations, secured parking garage, dog yards (on select units), pocket parks, access to the city trail system, and walking access to restaurants and retail shops. *All images shown are renderings of the future development.