Capital Square 1031 Completes DST Offering of Tucson Townhome Community
October 12, 2016
Capital Square 1031, Capital Square 1031 LLC, a sponsor of replacement property for Section 1031 exchanges, announced that its Delaware statutory trust offering, CSRA Galeria del Rio DST, comprised of a 101-unit Class A townhome community in Tucson, Arizona, has been fully subscribed by investors. The purchase price was not disclosed.
Located at 5132 N. Prairie Clover Trail, Galeria del Rio includes 35 two-story buildings and a community clubhouse. The two-story townhomes range in size from three-bedroom to four-bedroom units, each complete with 2.5 bathrooms, an attached two-car garage and a small private enclosed back yard. The property, completed in December 2014, is situated on approximately 11.5 acres of land.
“Galeria del Rio is a high quality townhome community situated in a central location within Arizona’s second largest city,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “The property provides residents with easy access to many social and recreational opportunities, employment centers, including a variety of employers in the national defense industry, and Northwest Medical Center. We are pleased to complete this offering, the 24th DST Capital Square 1031 has closed since its founding in late 2012.”
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