Capital Square 1031 Acquires Newly Constructed, Class A Multifamily Community on 393 North
November 4, 2021
Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of The Residences at 393 North Apartments, a newly constructed, Class A, multifamily community in Santa Rosa Beach, near Pensacola, Florida. The 128-unit multifamily community was acquired on behalf of CS1031 Residences at 393 North Apartments, DST.
“The Residences at 393 North is a newly constructed, highly amenitized Class A multifamily community featuring spacious floor plans with walk-in closets, top of the line finishes, stainless steel appliances, in-unit washers and dryers, private storage units, double vanities as well as private screened patios and balconies,” said Louis Rogers, founder and chief executive officer of Capital Square. “The community also features high-end amenities such as a 24-hour state-of-the-art fitness center, a resort-style pool and spa, a resident lounge with an entertainment kitchen, and a dog park. The community is located in Santa Rosa Beach, close to Florida’s scenic highway 30A, with convenient access to Destin, Panama City, and numerous beaches and parks.”
Located at 77 Exuma Way, the community was completed in 2021 and is situated on 10.89 acres of land. The Residences at 393 North features one-, two- and three-bedroom floorplans with an average unit size of 1,096 square feet.
As of October 2021, the property has a waiting list of 68 prospective tenants.
CS1031 Residences at 393 North Apartments, DST seeks to raise $23.3 million in equity from accredited investors and has a minimum investment requirement of $50,000.
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