Capital Square 1031 Launches DST Offering of 409-Unit Multifamily Community Near Washington, D.C.
WASHINGTON, D.C. (Aug. 6, 2019) – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings, announced today the launch of CS1031 Misty Ridge Apartments, DST. The Reg. D private placement is comprised of Misty Ridge, a 409-unit multifamily community in the Washington, D.C. suburb of Woodbridge, Virginia.
“Capital Square 1031 acquires stable apartment communities that benefit from strong employment drivers and exceptional recreational opportunities. Misty Ridge fits the bill with strong economics and a thriving job market in the heart of Northern Virginia. In addition, with a 3.51 percent fixed rate, 10-year loan from Fannie Mae, the property is well positioned to generate attractive risk adjusted returns for investors,” said Louis Rogers, founder and chief executive officer of Capital Square.
Located at 1989 Delaware Drive, the garden-style multifamily community is situated on approximately 26 acres of land and is comprised of 328,066 square feet of space. Misty Ridge was constructed in 1989 and includes one-and two-bedroom floorplans ranging in size from 786 square feet to 814 square feet. Community amenities include a resort-style swimming pool, fitness center, tennis court, dog park, business center, playground, gas grills and outdoor kitchen and private patios.
“Amazon is bringing 25,000 new jobs to their HQ2, approximately 24 miles from Misty Ridge,” said Whitson Huffman, senior vice president and head of acquisitions. “The Amazon effect will drive rents and occupancy in the Northern Virginia multifamily market. In addition, Misty Ridge is conveniently located near the Virginia Rail Express (VRE), a commuter rail system with easy access to Amazon’s HQ2 and points north ending at Union Station in D.C.”
Capital Square 1031 was represented by Dean Sigmon, Robin Williams and Justin Shay of Transwestern’s Mid-Atlantic Multifamily Group, in its acquisition of Misty Ridge. Alexandra Huffman of Walker & Dunlop originated the Fannie Mae acquisition loan.
Since inception, Capital Square has acquired 84 real estate assets for approximately 1,600 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
About Capital Square
Capital Square is a national investment sponsor specializing in tax-advantaged real estate offerings, including Delaware statutory trusts and qualified opportunity zone funds. Capital Square has completed over $1.4 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. In both 2017 and 2018, Capital Square was awarded by Inc. 5000 as one of the fastest growing companies. In the same years, the company was also ranked on Richmond BizSense’s list of fastest growing companies. In 2019, Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” and “Fantastic 50” reports. 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.
