Capital Square 1031 Fully Subscribes DST Offering of Multifamily Community in Virginia Beach, VA
VIRGINIA BEACH, Va. (May 26, 2020) – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings, announced today that CS1031 Saltmeadow Bay Apartments, DST, has been fully subscribed. The Reg. D private placement is comprised of Saltmeadow Bay Apartments & Townhomes, a Class A, 229-unit multifamily community in Virginia Beach, Virginia.
“Capital Square 1031 focuses on multifamily properties in the Southeast for stable cash flow and capital appreciation,” said Louis Rogers, founder and chief executive officer. “Saltmeadow enjoys high occupancy that produces stable cash flow with the potential for meaningful rent growth over time that leads to capital appreciation on sale.”
Located at 757 Saltmeadow Bay Drive, Saltmeadow Bay Apartments & Townhomes sits on 24 acres of land. The property includes four residential buildings with four stories each. Constructed in 2006, the community has one-, two- and three-bedroom floorplans ranging in size from 866 square feet to 1,598 square feet.
“Saltmeadow Bay Apartments & Townhomes is one of the nicest properties in the area, located in a park-like setting less than one mile from the Virginia Beach boardwalk and less than 20 minutes from the largest naval station in the world,” said Whitson Huffman, senior vice president and head of acquisitions. “The gated community features a resident clubhouse, controlled-access buildings, elevator-serviced buildings, a resort-style swimming pool, 24-hour fitness center, dog park, onsite storage and covered parking and garages. The amenities rival the best apartment communities in the area.”
Since inception, Capital Square has acquired 107 real estate assets for over 2,500 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 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. Capital Square has completed approximately $2 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 2017, 2018 and 2019, Capital Square was awarded by Inc. 5000 as one of the fastest growing companies. In 2017 and 2018, 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.
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