Capital Square Surpasses $3 Billion in Real Estate Transacted with Acquisition of Class A Multifamily Community in Greater Atlanta
ATLANTA (April 29, 2021) Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced today the acquisition of SouthLawn Lawrenceville, newly constructed multifamily community with retail space in Lawrenceville, a suburb of Atlanta, Georgia. The community was acquired for CS1031 SouthLawn Lawrenceville Apartments, DST, a Reg. D private placement.
“SouthLawn Lawrenceville is the next in Capital Square’s line of newly constructed, Class A multifamily communities in the Southeast,” said Louis Rogers, founder and chief executive officer of Capital Square. “It is the highest quality, walkable, mixed-used community in the area. In addition, Atlanta is the business center of the South East, with major employers following businesses into the Peach State. Microsoft, Airbnb, Honeywell, GE Digital and BlackRock are opening major facilities in the area, adding jobs and increasing demand for quality apartments.”
Located at 30 S. Clayton St., the community was constructed in 2020. SouthLawn Lawrenceville is comprised of 430 units and approximately 15,000 square feet of street-level retail space. Situated on 14 acres of land within downtown Lawrenceville, the community features studio, one-, two- and three-bedroom units ranging in size from 622 square feet to 1,375 square feet.
Community amenities include electric car charging stations, two bicycle storage rooms with maintenance stations, a dog park and dog grooming room, two business centers with private workrooms and two private conference rooms. The property also features three resort-style pools with cabanas, including a roof-top pool above the clubhouse, poolside outdoor grilling areas, a resident clubhouse with multiple lounges and meeting areas, two fitness centers with Peloton bikes and TRX equipment, package delivery lockers for Amazon and other e-commerce deliveries as well as detached garages that are available for rent.
Alexandra Huffman, Justin Nelson and Lynn Pearson with Walker & Dunlop sourced the acquisition loan, which has a 10-year term and a 3.55% fixed interest property loan rate.
“The Atlanta area remains an exceptionally desirable market for institutional investors, attracting record amounts of capital in the last two years,” said Whitson Huffman, chief strategy and investment officer. “We are excited to purchase another property in a growth market from a best-in-class developer, allowing us to employ a focused rent roll optimization strategy as we roll over the original leases.”
The community is located in the Lawrenceville submarket, which outperformed the overall Atlanta apartment market, with an average occupancy of 95.9% and rent growth at 6.9% for the year ending February 2021, according to Yardi Matrix. Located approximately five miles from the property is Rowen, a planned research and office park development, which is expected to break ground in 2023 and bring more than 18,000 jobs to the area by 2035.
Since the company was founded, Capital Square has acquired 128 real estate assets for over 3,000 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable 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. Since 2012, Capital Square has completed more than $3 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. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for four consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense’s list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” report in 2019 and their “Fantastic 50” reports in 2019 and 2020. To learn more, visit www.CapitalSquare1031.com.
Disclaimer: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Diversification does not guarantee profits or protect against losses.