The Trust owns Skytop Apartments, a 361-unit Class A multifamily community completed in 2024 in Anderson Township, Cincinnati, Ohio, acquired for $88.5 million. The property is master-leased to a Sponsor affiliate that subleases units to residents. The plan is to collect master lease rent, grow rents through professional management and marketing, benefit from a property tax abatement through tax year 2038, and sell or exchange the property within about seven to ten years, including through an option for the Bluerock operating partnership to acquire the interests for operating partnership units.