Capital Square 1031 to Buy 55+ Manufactured Housing Communities in Coastal Florida
July 10, 2020
Capital Square 1031, a sponsor of tax-advantaged Delaware statutory trust offerings for Section 1031 exchange and other accredited investors, has launched a new investment program to purchase 55+ lifestyle manufactured housing communities in coastal Florida markets.
The company indicated that it chose Florida because it has no state income tax, a favorable climate, and an infrastructure that caters to the needs of retirees.
“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…”
Capital Square claims to be bullish on communities where upgrades and improvements maximize income potential and where all homes within the communities are tenant-owned.
“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,” Rogers said.
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