Capital Square 1031 Fully Subscribes DST Offering of Multifamily Community in Virginia Beach
May 26, 2020
Capital Square 1031, a sponsor of Delaware statutory trust offerings, has fully subscribed CS1031 Saltmeadow Bay Apartments DST, a Regulation D private placement offering 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.”
Constructed in 2006, Saltmeadow Bay Apartments sits on 24 acres of land and is comprised of four residential buildings with one-, two- and three-bedroom floorplans ranging in size from 866 square feet to 1,598 square feet.
Amenities at the gated community include a resident clubhouse, controlled-access buildings, elevator-serviced buildings, a swimming pool, 24-hour fitness center, dog park, onsite storage and covered parking and garages.
In related news, last week the company subscribed another DST offering, CS1031 Midwest Dialysis DST, comprised of a 9,000-square-foot dialysis clinic located in East Chicago, Indiana.
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