Capital Square 1031 Buys Multifamily Community in Washington, D.C. Metro
February 14, 2019
Capital Square 1031, a real estate investment and management firm specializing in tax-advantaged Delaware statutory trust offerings, has purchased Bellemeade Farms Apartments, a 316-unit multifamily property located in Leesburg, Virginia.
“This multifamily community, which was purchased for a Delaware statutory trust offering, primarily for Section 1031 exchange investors, is well located in Loudoun County, the wealthiest county in America, according to Forbes magazine…,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “This is Capital Square’s largest offering, with a new milestone realized of over $1 billion of real estate sponsored for DST programs.”
Located at 775 Gateway Drive South East, Bellemeade Farms is comprised of 12 residential buildings and a clubhouse with a leasing office. The community includes one- and two- bedroom floorplans ranging in size from 583 square feet to 954 square feet. Community amenities include a pool, outdoor grilling and entertaining area, resident lounge, club room, dog park and spa, tennis courts, 24-hour fitness center and garden plots available to rent.
Situated on nearly 16 acres of land, the community was originally constructed in 1988 and has had $2 million invested in maintenance, landscaping and common areas by prior institutional ownership over the last three years.
Since inception, Capital Square 1031 has sponsored 54 DSTs and has completed approximately $1 billion in transaction volume.
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