For Broker Dealer and Investment Advisor home office due diligence purposes only.

ABOUT BLUEROCK VALUE EXCHANGE, LLC (“BVEX”)
Bluerock Value Exchange (BVEX), an affiliate of Bluerock Real Estate L.L.C. (“Bluerock”), is a national sponsor of syndicated 1031-exchange offerings
for over 19 years with a focus on Premier Exchange Properties™ that seek to deliver stable cash flows and potential for value creation. Bluerock
and its affiliates have structured 1031 exchanges on more than $2.6 billion in total property value and 13.7 million square feet of property.
With capacity across nearly all real estate sectors and the ability to customize transactions for individual investors, BVEX is available to create
programs to accommodate a wide range of tax requirements. BVEX provides advisory services to the Sponsor in connection with the Offering.

ABOUT 1031 EXCHANGES
Section 1031 of the Internal Revenue Code (“Section 1031”) provides that, in general, no gain or loss is recognized on the exchange of like-kind real
property held for productive use in a trade or business, or for investment. A tax-deferred exchange is a method by which a property owner trades one
or more relinquished properties for one or more replacement properties of “like-kind,” while deferring the payment of federal income taxes and some
state taxes on the transaction (if the requisite requirements are satisfied). There are numerous Section 1031 rules and requirements, including, but
not limited to: sellers cannot receive or control the net sales proceeds; replacement real property must be like-kind to the relinquished real property;
the replacement real property must be identified within 45 days from the sale of the property; the replacement real property must be acquired within
180 days from the sale of the relinquished real property; and the attributed debt placed or assumed on the real property must be equal to or greater
than the attributed debt on the relinquished real property (which in certain circumstances can help avoid or minimize taxable “boot”).

RISK FACTORS
The securities offered herein are highly speculative and involve substantial risks. Do not acquire an Interest if you cannot afford to lose your entire
investment. Carefully consider the risks described below, as well as the other information in the Memorandum before making a decision to purchase an Interest. Consult with your legal, tax, and financial advisors about an investment in an Interest. The risks described below are not the only risks that may affect an investment in an Interest. Additional risks and uncertainties that we do not presently know or have not identified may also materially and adversely affect the value of an Interest, the Property, or the performance of your investment. The risks of purchasing an Interest include, but are not limited to, the following:

- the lack of liquidity of, or a public market for, the Interests;
- the holding of a beneficial interest in the Trust with no voting rights with respect to the management or operations of the Trust or in connection
with the sale of the Property;
- risks associated with owning, financing, operating, and leasing multifamily apartment complex and real estate generally in and around the Tampa Metro;
- the impact of an epidemic in the areas in which the Property is located or a Pandemic, which could severely disrupt the global economy;
- economic risks with a fluctuating U.S. and world economy;
- performance of the Master Tenant under the Master Lease, including the potential for the Master Tenant to defer a portion of rent payable under the Master Lease;
- the Trust depends on the Master Tenant for revenue, and the Master Tenant will depend on the end-user tenants for revenue. Any default by the Master Tenant or the end-user tenants will adversely affect the Trust’s operations;
- reliance on the Master Tenant (and the Property Manager engaged by the Master Tenant, and the Property Sub-Manager subcontracted by the Property Manager) to manage the Property;
- risks associated with Sponsor’s affiliate funding the Demand Note that capitalizes the Master Tenant;
- risks relating to the terms of the financing for the Property, including the use of leverage;
- lack of diversity of investment;
- the existence of various conflicts of interest among the Sponsor, the Trusts, the Master Tenant, the Property Manager, and their affiliates;
- material tax risks, including treatment of the Interests for purposes of Code Section 1031 and the use of exchange funds to pay acquisition costs, which may result in taxable boot;
- the Interests not being registered with the Securities and Exchange Commission (the “SEC”) or any state securities commissions;
- risks relating to the costs of compliance with laws, rules, and regulations applicable to the Property;
- risks related to competition from properties similar to and near the Property;
- the Property is located in a “Hurricane Susceptible Region,” which increases the risk of damage to the Property; and
- the possibility of environmental risks related to the Property.

Additional risks apply. See “Risk Factors” section of the Memorandum for a more detailed discussion of the risks associated with the Interests.
All terms capitalized, but not defined herein, shall have the meaning given in the Memorandum. Interests are offered to “accredited investors” only
pursuant to Rule 506(c) of Regulation D of the Securities Act of 1933. Past performance is not an indicator of future results.
BR Amira, DST Delaware Statutory Trust (DST)

For more Information, please contact your financial advisor or Bluerock Capital Markets LLC at 877.826.BLUE (2583)
Securities Offered Through Bluerock Capital Markets LLC
Member FINRA / SIPC | Affiliated with Bluerock Real Estate, L.L.C.
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