Capital Square 1031 Acquires 344-Unit Multifamily Community in Greater Atlanta’s Cobb County

Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, has purchased Ivy Commons Apartments, a 344-unit multifamily property located in the Atlanta suburb of Marietta, Georgia.

Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, has purchased Ivy Commons Apartments, a 344-unit multifamily property located in the Atlanta suburb of Marietta, Georgia. The purchase price was not disclosed.

“Ivy Commons is well located in Cobb County, offering its residents direct access to some of the largest employment and economic drivers in the area,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “The property’s strong location within the Atlanta MSA, demographically tailored unit mix and proximity to entertainment and retail destinations positions it as a valuable addition to our national portfolio of assets under management.”

Ivy Commons is comprised of 39 residential buildings and a dual leasing center with clubhouse. The community’s one-, two- and three-bedroom units range in size from 720 square feet to 1,340 square feet.

Originally constructed in 1987 on 28.4 acres of land, Ivy Commons has undergone recent upgrades to 236 of its 344 units. Community amenities include a swimming pool with sundeck, fitness center, business center, two tennis courts, laundry facility, controlled access, playground and a conference room.

Cobb County, the fourth largest county in Georgia, is home to five Fortune 500 companies and has the lowest real estate tax rate in the metro Atlanta area. In addition, the property is less than 10 miles from the new 41,000-seat SunTrust Park, home of the Atlanta Braves and The Battery Atlanta, which features 1.5 million square feet of planned mixed-use entertainment retail, office, hotel and residential density, including the new regional corporate headquarters for Comcast.

Capital Square 1031 is a real estate investment and management company that sponsors real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code. Capital Square provides due diligence, acquisition, loan sourcing, property management/asset management, and disposition, for high net worth investors, private equity firms, family offices and institutional investors. Since its founding in 2012, the firm has overseen a national portfolio of 70 real estate assets valued at approximately $760 million (based on investment cost).

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