Capital Square 1031 Expands DST Portfolio to Include 55+ Manufactured Housing Communities in Coastal Florida Markets
RICHMOND, Va. (July 9, 2020) – Capital Square 1031, a leading sponsor of tax-advantaged Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the launch of a new investment program to acquire 55+ lifestyle manufactured housing communities in coastal Florida markets.
“Capital Square has completed an exhaustive search of asset classes to expand the current line-up of multifamily, medical and industrial properties for the 1031/DST program,” said Louis Rogers, founder and chief executive officer of Capital Square. “I am pleased to announce that Capital Square will be acquiring institutional-quality, four- and five-star 55+ ‘lifestyle’ manufactured housing communities in coastal Florida markets. We have chosen the Sunshine State because Florida does not have a state income tax, has a favorable climate, and an infrastructure that caters to the needs of retirees. The 55+ ‘lifestyle’ segment is comprised of newer, high-quality homes, typically double-wide in size. Many have built-in car ports, porches, shingled roofs, granite counter tops, ceramic, wood flooring and other superior amenities. Highly prized for their stable occupancy, low operating and capital expenses, and track record of strong performance, four- and five-star manufactured housing communities are considered some of the most desirable properties in the nation.”
Capital Square is bullish on communities where upgrades and improvements maximize income potential and all homes within the communities are tenant-owned.
Rogers added, “Institutional-quality, four- and five-star manufactured housing communities are in short supply due to significant barriers to developing new communities coupled with the loss of existing communities that are converted to other uses. Capital Square will be acquiring these communities to potentially generate stable income and capital appreciation for a growing number of 1031 exchange and other investors across the nation.”
“Capital Square believes that investments in 55+, highly amenitized, four- and five-star manufactured housing communities in coastal Florida have substantial upside potential from organic rent growth plus additional rent increases from planned upgrades and improvements to the communities,” said Whitson Huffman, chief strategy and investment officer. “Many will be the only community in their submarket to have docks and boat access.”
Since inception, Capital Square has acquired 108 real estate assets for more than 2,200 investors nationwide seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking cash flow and capital appreciation.
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. To date, 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.