Capital Square Fully Subscribes DST Offering of Multifamily Community Near Richmond, Virginia
RICHMOND, Va. (June 13, 2023) – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of multifamily communities, announced today that its offering, CS1031 Hunter’s Chase DST, has been fully subscribed. The Regulation D private placement, which raised nearly $48.2 million from accredited investors, consists of a 320-unit apartment community in the Richmond, Virginia suburb of Midlothian.
“After a decade that included over 135 investment offerings, you would think it would get old. But the closeout of a DST offering never does,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This is the starting point of a new journey, building generational wealth for investors who have joined Capital Square to invest in Hunter’s Chase Apartments as their Section 1031 replacement property to defer taxes from the sale of an investment property. The investor group includes those local to central Virginia as well as many from the west coast, all of whom desire stable cash flow and appreciation by investing in the greater-Richmond economy,” said Rogers.
Located at 5200 Hunt Master Drive, the 24.7-acre garden-style apartment community offers one-, two- and three-bedroom units, averaging 816 square feet with spacious floor plans, walk-in closets, in-unit washer and dryer, stainless steel appliances and private screened patios and balconies. Community amenities include a resident clubhouse with coffee bar, fully equipped fitness center, swimming pool with a sundeck, multi-use sports court, BBQ and picnic areas, fenced dog park, playground, carwash station and package lockers.
Hunter’s Chase is adjacent to the Village at Swift Creek and Commonwealth Center, which both offer residents a wealth of local shopping and dining options.
“Hunter’s Chase Apartments is part of Richmond’s thriving multifamily submarket, where quality living is in constant demand,” said Whitson Huffman, co-chief executive officer. “The region’s growth is expected to continue through 2025 and beyond with positive rent growth and impressive occupancy rates that will only serve to raise the demand for quality multifamily living.”
Capital Square is an active owner, developer and manager of multifamily communities in Virginia and throughout the Southeast. Among their many active initiatives, the firm recently broke ground on a 352-unit, Class A multifamily development in the Scott’s Addition neighborhood of Richmond. Development of the community is being financed by CSRA Opportunity Zone Fund VII, a qualified opportunity zone fund that is currently raising up to $41.4 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Since its founding in 2012, Capital Square has acquired 170 real estate assets for over 6,000 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 vertically integrated national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion, and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern U.S., with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $7.5 billion in transaction volume. 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 six 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. In 2023, Capital Square was recognized by the Richmond Times-Dispatch as one of the region’s “Top Work Places.” To learn more, visit www.CapitalSq.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.