Capital Square Buys Florida Manufactured Housing Property for DST Offering
October 8, 2021
Capital Square 1031, a sponsor of Delaware statutory trust offerings, has purchased The Coach House, an age-restricted manufactured housing community in Florida’s Gulf Coast.
The community consists of 420 homesites and was acquired on behalf of CS1031 Coach House MHC DST, a Regulation D private placement offering that seeks to raise $56.7 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“This is Capital Square’s eighth acquisition of an age-restricted, manufactured housing community in Florida for the DST/1031 exchange program,” said Louis Rogers, founder and chief executive officer of Capital Square. “These are some of the most desirable real estate investments in the nation due to their scarcity, stability and profitability.”
The Coach House is situated on approximately 80 acres of land in Palmetto, Florida, a retirement destination. The 55+ age-restricted community includes a clubhouse, heated pool, shuffleboard courts, a laundry room, fitness center, three community lakes and storage lots available for residents.
Capital Square intends to make capital improvements to the community, including a clubhouse renovation, exterior amenity enhancements and additions, community-wide enhancements, improvements to roads, driveways and curbs as well as upgrades to utility systems. By upgrading the property, Capital Square plans to increase occupancy, rents, and value of the property.
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