Capital Square 1031 Launches DST Offering of Georgia Multifamily Community
July 26, 2019
Capital Square 1031, a leading real estate investment and management firm specializing in Delaware statutory trust offerings, has launched CS1031 Bedford Parke Apartments DST, a Regulation D private placement investment offering.
CS1031 Bedford Parke Apartments DST is comprised of Bedford Parke Apartments, a 232-unit multifamily community in Warner Robins, the largest city in Houston County, near Macon, Georgia. The offering is seeking up to $12.91 million in total equity from accredited investors. The offering has a minimum investment of $50,000.
“Bedford Parke Apartments is an exceptional, well-located multifamily community with nearly 100 percent occupancy and a waitlist of prospective renters,” said Louis Rogers, founder and chief executive officer of Capital Square. “The property is only one mile from Warner Robins’ primary retail corridor and six miles from Robins Air Force Base, the largest Air Force base in the South.”
He added, “Constructed in 2008, Bedford Parke is one of the newest apartment communities in the market and benefits from a limited supply of multifamily properties. It’s an exciting addition to our rapidly growing portfolio of quality investment properties for Section 1031 exchange and cash investors.”
Bedford Parke Apartments is comprised of 277,240 rentable square feet of space with one-, two- and three-bedroom units ranging in size from 850 square feet to 1,438 square feet of space.
Community amenities include a business center, fitness center, resident lounge, grilling/picnic area, sauna, sand volleyball court, playground, pool with sundeck and picnic pavilion, laundry facility, covered car-care center, rentable storage units, fenced perimeter and gated community access. Constructed in 2008, the property was 100 properties occupied at the time of acquisition.
“Warner Robins is a strong apartment market due to significant population and employment growth,” said Seth Harris, executive vice president of investments at Capital Square. “In addition, Robins Air Force Base hired 1,200 new employees during the past year to maintain mission critical military aircraft. Major employers are also recruiting in the area, including GEICO and Amazon.”
Since inception, Capital Square has acquired 83 properties for approximately 1,600 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
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