Spotlight: Bridgeview Real Estate, a Vertically Integrated Delaware Statutory Trust Sponsor

The Dallas firm builds much of what it syndicates, and publishes a construction-phase valuation route for advisors weighing a discounted Roth conversion.

September 9, 2026

Bridgeview Real Estate is a Dallas-based commercial real estate developer and Delaware statutory trust sponsor that builds much of what it syndicates. Founded in 2009, the firm took the Bridgeview name in 2011 and now operates through seven affiliated companies covering acquisition and development, general contracting, property management, commercial brokerage, private equity and investor relations, a FINRA-member broker-dealer, and a dedicated DST sponsor entity, Bridgeview Real Estate Exchange. The same group underwrites a deal, builds the asset, manages it, and takes it to exit, which is the distinction Bridgeview draws between itself and other DST sponsors.

Bridgeview is a veteran-owned business and reports more than $900 million under management. Its portfolio is concentrated in Texas markets, with selective investments elsewhere in the United States across multifamily, industrial, mixed-use, medical office, student housing, and land.

A construction-phase route to a Roth conversion

BV Capital, Bridgeview’s private equity arm, publishes a five-step process for using a ground-up construction investment to convert a traditional IRA to a Roth at a reduced taxable amount. An investor commits traditional IRA funds to a development project. Once construction begins, a third party prepares a valuation report assessing the interim reduction in value, the IRA custodian applies that reduced figure to the account, and the investor initiates the conversion at the lower valuation. Proceeds on exit return to the Roth.

Bridgeview attributes the interim markdown to illiquidity, lack of transferability, and initial deal costs, and puts the potential devaluation at roughly 30%, describing the accompanying illustration as an example rather than a projection. The firm also notes that some real estate projects generate unrelated business income tax. For advisors, the strategy is the clearest instance of Bridgeview’s development capability doing work its DST shelf alone would not.

The DST shelf

Bridgeview entered the advisor-sold channel in 2020 with an industrial net-lease fund and launched its first DST in 2022. The inaugural offering, BV Design Multifamily DST, was fully subscribed in August 2023 at $31.14 million for the acquisition and renovation of a 214-unit Class A property in the Dallas Design District. A $27.2 million student housing DST followed in August 2024, holding two properties in Fort Worth and Arlington.

The firm’s fourth DST, launched in April 2025, was its first outside Texas: the $77 million BV Ernest Health Neuro Rehab DST, a zero-debt offering holding Sacramento Rehabilitation Hospital, part of the Ernest Health network of rehabilitation and long-term acute care hospitals. That offering remains open.

Current pipeline

BVCAP Belton Investors funds a mixed-use active adult development of approximately 199 units, including 16 single-story cottages. BV Fraser Caddo Mills is raising equity for the predevelopment and acquisition of roughly 468 acres in Caddo Mills, Texas, the site of Stroope Ranch, a seven-phase master-planned community of about 1,435 single-family lots. BV Parkway Lofts, introduced by webinar in September 2026, is a ground-up multifamily project in Corinth, Texas. A land offering in the Houston Heights is also open.

People and distribution

Founder Steve May spent more than ten years as a commercial real estate lender in structured and project finance before starting the predecessor firm MayCo Realty. Ross Curtis, who has spent more than 30 years in financial services, is president of BV Capital. Brian Griggs joined in 2026 as chief operating officer of Bridgeview Companies, leading enterprise operations and acquisition oversight across the affiliated entities and serving on the executive and investment committee. Offerings reach existing private clients, broker-dealers, registered investment advisors, and family offices through BV Securities, the group’s managing broker-dealer.

By the firm’s own account of 2025, it offered its fourth DST, launched three new investment deals, and recapitalized two land acquisition offerings. Its March 2026 commentary argued that senior housing has moved from a niche allocation to a core institutional requirement, a thesis the active adult development now puts capital behind.