Le Lézard
Classified in: Business
Subject: RLE

Capital Square 1031 Acquires Class A Multifamily Community Near the Firm's Headquarters in Greater Richmond


RICHMOND, Va., Oct. 26, 2021 /PRNewswire/ -- Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a Class A, 339-unit multifamily community in Glen Allen, Virginia, a suburb of Richmond, near the firm's headquarters. The community was acquired on behalf of CS1031 Flats at West Broad Village Apartments, DST, a Reg. D private placement investment offering.

"Located in West Broad Village, Flats at West Broad is part of a unique lifestyle community that includes approximately 380,000 square feet of retail space, including Whole Foods, REI, Target and Home Goods," said Louis Rogers, founder and chief executive officer of Capital Square. "The community is located near Innsbrook Office Park, a more than six-million-square-foot office park with numerous major employers, including Capital One, Bon Secours Health System, Dominion Virginia Power and the corporate headquarters of Markel and Capital Square. Unique to Richmond, residents have the opportunity to live, work and play in the neighborhood and have excellent access to U.S. Route 250 and Interstate 64."

Located at 3930 Wild Goose Lane, Flats at West Broad Village is situated on approximately 4.86 acres of land and is within walking distance of approximately 380,000 square feet of retail space. The community features approximately 9,000 square feet of amenity space, including a state-of-the-art fitness center, a package locker room, co-working areas, a coffee bar, a lounge as well as numerous restaurants and a hotel. Additional amenities include catering space, meeting rooms, a resort pool with sundeck and cabanas, a grilling station with a covered lounge area, a billiards room with outside firepits and a movie theater with stadium seating.

CS1031 Flats at West Broad Village Apartments, DST seeks to raise $73.1 million in equity from accredited investors and has a minimum investment requirement of $50,000.

"The Greater Richmond area is a strong performer, with exceptional employment growth, reasonable cost of living and the highest multifamily rent growth in the nation, according to Yardi Matrix," said Whitson Huffman, chief strategy and investment officer. "Being the state's capital and home to many colleges and universities, a large medical complex, and seven Fortune 500 companies, the Richmond area is extremely stable."

Since its founding in 2012, Capital Square has acquired 140 real estate assets for over 3,500 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.

About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed more than $3.6 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square's related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for four consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense's list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" report in 2019 and their "Fantastic 50" reports in 2019 and 2020. To learn more, visit www.CapitalSquare1031.com.

Disclaimer: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative. Diversification does not guarantee profits or protect against losses.

Contact:
Lauren Burgos
Spotlight Marketing Communications
949.427.1399
[email protected]   

 

SOURCE Capital Square 1031


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News published on 26 october 2021 at 08:00 and distributed by: