Capital Square Delivers 161% Total Return on $72 Million UPREIT Transaction with “Full Optionality and Investor Equality”
April 3, 2023
Capital Square, a sponsor of tax-advantaged real estate investments, announced the completion of an UPREIT transaction for Saltmeadow Bay Apartments, a Class A, 229-unit multifamily community in Virginia Beach that had been owned as part of a Delaware statutory trust program.
The company says that more than 85% of the DST investors (by value) exchanged their interests for operating partnership units in Capital Square Apartment REIT Inc. on a tax-deferred basis under Section 721 of the Internal Revenue Code.
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