Capital Square 1031 Completes DST Offering of 160-Unit Multifamily Community in Athens
RICHMOND, Va. (May 10, 2018) – Capital Square 1031, a leading sponsor of Delaware statutory trust investments, announced today that its offering, CS1031 High Ridge Apartments, comprised of a 160-unit multifamily community in Athens, Georgia, has been fully subscribed by a total of 33 investors.
“High Ridge Apartments is located in a strong multifamily rental market in Athens, Georgia,” said Louis Rogers, founder and chief executive officer. “With numerous amenities and excellent fundamentals, this multifamily offering aligns well with our strategy of providing investors high-quality, passive investments with a potential for long-term growth.”
Located at 700 Mitchell Bridge Road, High Ridge Apartments is situated on 18 acres of land. The community is comprised of 11 two- and three-story residential apartment buildings consisting of one-two- and three-bedroom units, with an average size of 1,228 square feet.
The community has a complete amenities package, including a clubhouse, fitness center, grilling area, lighted tennis court, playground and a swimming pool, as well as onsite management and maintenance. Individual unit amenities include custom cabinetry, energy efficient appliances, a private balcony or patio and walk-in closets. High Ridge Apartments is centrally located near Georgia State Route 10 Loop, U.S. Route 78 and U.S. Route 129, and is near entertainment, shopping and dining options. The property is within a 15-minute drive of Athens’ top employers, including a new Caterpillar facility that recently added 1,500 new jobs near the property.
The city of Athens is approximately 60 miles northeast of downtown Atlanta, Georgia. Rogers added, “Athens is well-known for the University of Georgia. While High Ridge Apartments is not a student housing community, the University stabilizes and drives the local economy.”
About Capital Square 1031
Capital Square 1031 is a national real estate investment and management company. The firm sponsors high-quality real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code. Capital Square uses the Delaware Statutory Trust (DST) structure to make quality real estate available to a larger number of investors. Capital Square provides a range of services, including due diligence, acquisition, loan sourcing, property management/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. As of May 2, 2018, the firm oversees a growing national portfolio of 67 real estate assets valued at approximately $670 million (based on investment cost). In August 2017, Capital Square ranked 485th on the Inc. 5000 list of fastest growing companies, making it the top-ranking Richmond, Virginia-area company, with 925 percent three-year growth. In 2016, Capital Square was ranked as the second fastest growing company in the Richmond, Virginia area by Richmond BizSense. To learn more, visit www.CapitalSquare1031.com.
