Capital Square 1031 Acquires 301-Unit Richmond MF Community
January 19, 2021
Capital Square 1031 has acquired Canopy at Ginter Park, a 301-unit multifamily community in Richmond, VA. The sales price was not disclosed.
Located at 3200 Brook Road, the community is situated on approximately 15 acres of land. Built in 2019, the property features 19 buildings with up to three stories each. The unit mix consists of one-, two- and three-bedroom units. Amenities include a saltwater swimming pool, clubroom, access-controlled buildings and a 24-hour fitness center.
“In spite of the global pandemic, 2020 was a record year for acquisitions, dispositions, new hires, and overall profitability,” said Louis Rogers, CEO at Capital Square. “When the pandemic hit and the real estate market softened a bit, Capital Square worked double time to purchase best-in-class real estate for the DST/1031 program. Canopy at Ginter Park Apartments is another brand new, Class A apartment community in an iconic Richmond, Virginia neighborhood, near the firm’s headquarters.”
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