Capital Square 1031, a sponsor of Delaware statutory trust investments, announced that its offering, CS1031 High Ridge Apartments, DST, 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.”
Situated on 18 acres of land, High Ridge Apartments 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.
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.”
Capital Square 1031 is a national real estate investment and management company that sponsors institutional-quality real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code. The company 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).