BR Churchill Downs DST

Investment Description

The Property consists of approximately 21.31 acres of land, consisting of 34 residential buildings containing 272 units (96 direct entry townhome units and 176 garden style-apartment units), a clubhouse/leasing office building, and a fitness center building totaling 288,480 net rentable square feet. The Property has 622 parking spaces comprised of 493 surface spaces, 73 garage spaces, and 56 ADA spaces. The buildings were completed between 2000 (Phase I) and 2003 (Phase 2). All units include large kitchens with bar top seating, luxury, wood-style plank flooring, washer and dryer connections, high ceilings, ample closet space, private patio or balcony, refrigerator with ice maker, dishwasher, ceiling fan, and carpeting. Select units include two-inch plantation style blinds, scenic views, and a microwave. Property amenities include an enhanced fitness center with Echelon Mirror and Bike, Starbucks coffee bar with Wi-Fi in the clubhouse, expanded putting green, upgraded clubhouse with coworking lounge, poolside cabanas, leash free dog park, grilling pavilion, lounge pool with padded loungers, complimentary Wi-Fi in amenity spaces, laundry facilities, playground, ample parking, and pet spa.

Business Plan

The Sponsor’s investment objectives for Beneficial Owners are to (i) preserve their capital investment; (ii) make monthly distributions which may be partially tax deferred as a result of depreciation and amortization expenses; (iii) seek to increase rental rates to create additional value; and (iv) realize profit through the ownership and eventual sale, disposition, transfer or merger to facilitate a Section 1031 Exchange (under limited circumstances) or an exchange transaction pursuant to Section 721 of the Code with respect to the Property within approximately seven to ten years. See “Business Plan.” There is no guarantee that the objectives will be successfully achieved, that the Property’s value will be enhanced, or that the Property will be sold within the planned time period. An investment in the Interests involves substantial risks. See “Risk Factors.”