Capital Square 1031 acquires Class A multifamily community in affluent Tennessee submarket
June 15, 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 Integra Vistas, a Class A, 280-unit multifamily community in the Hixson submarket of Chattanooga, Tennessee. The property was acquired for CS1031 Integra Vistas Apartments, DST, a Reg. D private placement.
“Located in Chattanooga, Tennessee, Integra Vistas is a 2018 vintage, Class A multifamily asset with strong resident demographics,” said Louis Rogers, founder and chief executive officer. “The affluent Hixson submarket of Chattanooga, where the property is located, has an average projected occupancy rate of 98.3 percent and projected rent growth of 4.9% for the next five years, according to Yardi Matrix.”
Located at 151 Integra Vistas Drive, the community was constructed in 2018 on approximately 20 acres of land. Integra Vistas is comprised of one-, two- and three-bedroom units ranging in size from approximately 766 square feet to 1,278 square feet.
Community amenities include a resort-style swimming pool with an expansive sundeck; an outdoor pavilion with a kitchen, flat screen TV and fireplace; as well as a resident clubhouse with an entertainment, game and poker room. Additional amenities include a state-of-the-art fitness center featuring free weight and circuit stations, CrossFit training, cardio, yoga and fitness on demand; a pet park with agility equipment; resident package receiving lockers; attached and detached garages and walking trails with scenic mountain views.
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