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Capital Square Fully Subscribes DST Offering of Class A Multifamily Community in Louisville, Kentucky

August 9, 2023
Street view of the Louis Apartment Flats

LOUISVILLE, Ky. (Aug. 9, 2023) – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced today that its offering, CS1031 The Louis Apartment Flats, DST, has been fully subscribed. The Regulation D private placement, which raised nearly $60.5 million from accredited investors, is comprised of a newly built, Class A, 309-unit multifamily community in Louisville, Kentucky.

“Louisville is one of the top ten cities for rent growth according to the New York Post, with an increase of 17.5% between September 2021 and September 2022,1” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Also, Louisville is the #3 market in the nation for rent growth in 2023 as reported by And Kentucky had the highest rental occupancy rate in the nation in the second quarter of 2023.3

Completed in 2021 at 3750 Chamberlain Lane, The Louis Apartment Flats offers one-, two-, and three-bedroom units with top-of-the-line finishes and an average unit size of 966 square feet. The community amenities include: a resort-style swimming pool with poolside cabanas; 24-hour, state-of-the-art fitness center; resident lounge with a complimentary gourmet coffee bar; business center with private workspaces and printing stations; fenced pet park with pet spa; and 24-hour onsite community market.

The property is within two miles of multiple retailers, restaurants and entertainment venues. The Louis is also within close proximity of Interstate 265, allowing residents easy access to Greater Louisville and the surrounding region.

“Louisville is one of the highest growth markets in the mid-South and Southeast that Capital Square covets,” said Whitson Huffman, co-chief executive officer. “The Louisville market, which enjoys strong median household income and projected annual rent growth, had an unemployment rate that was below 3 percent at the close of 2022, near a historic low.”

Capital Square made an additional investment in the Louisville market last October with the acquisition of Lyric at Norton Commons, a Class A+, 273-unit mixed-use multifamily community. The community was acquired on behalf of CS1031 Lyric at Norton Commons, DST, which is currently raising $68 million in equity from accredited investors.

Since its founding in 2012, Capital Square has acquired 171 real estate assets for over 6,500 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.

Sources: 1. Thomas Barrabi, “Rents rising fastest in these 10 US cities, data shows,” New York Post, October 14, 2022. | 2. “The Top Five Tightest Rental Markets in the U.S.” Chandan Economics, June 23, 2023. | 3. Ibid.

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

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.


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