Capital Square 1031 Acquires Another Newly Constructed, Trophy Multifamily Community in Greater Richmond, Virginia
The acquisition is on behalf of a Delaware statutory trust investment offering that seeks to raise $44.5 million in equity from accredited investors
RICHMOND, Va. (Aug. 12, 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 Livingston Apartment Flats, a Class A, 307-unit multifamily community in the Chesterfield County submarket of Richmond, Virginia. The property was acquired on behalf of CS1031 Livingston Apartment Flats, DST, a Reg. D private placement investment offering.
“We are experiencing a migration from gateway cities to Richmond and other secondary markets in the Southeast, which is driving demand and occupancy of Class A apartments,” said Louis Rogers, founder and chief executive officer of Capital Square. “We believe this trend will continue to drive the future value of highly amenitized, well-located properties, such as Livingston Apartment Flats, and is a model for future Capital Square properties.”
Located at 15560 Cosby Village Ave., the community was constructed in 2020 and is situated on 9.34 acres of land. Part of Cosby Village, a 68-acre, mixed-use development, the community provides residents with convenient access to elegant retail and dining options. Livingston Apartment Flats features one-, two- and three-bedroom units.
Community amenities include a workspace area with a coffee maker, conference room and private offices; a two-story, 24-hour fitness, yoga and cross-training center; and a game room with a pool table, shuffleboard table and wet bar. Additional amenities include a package room, bike repair shop, snack shop and gourmet coffee bar, a saltwater pool, poolside cabanas and a poolside game lawn. The community also features a dog park and pet-wash station, an outdoor fire table, outdoor tennis tables and a car charging station.
CS1031 Livingston Apartment Flats, DST seeks to raise $44.5 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Livingston Apartment Flats is an ideal community for residents who value the high-end interior features of a luxury multifamily community as well as convenient access to Greater Richmond’s extensive employment sectors and entertainment and dining options,” said Whitson Huffman, chief strategy and investment officer. “As individuals migrate to secondary markets from gateway cities, multifamily demand in the Richmond region continues to grow, supporting the value of this property and further positioning it as a model fit for our investment property portfolio.”
Since its founding in 2012, Capital Square has acquired 134 real estate assets for over 3,300 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. Private placements are speculative. Diversification does not guarantee profits or protect against losses.