Capital Square, an investment sponsor specializing in tax-advantaged real estate offerings, has purchased a Class A, 237-unit multifamily community in Olathe, a city within the Kansas City metropolitan area.
The property was purchased on behalf of CS1031 Villas at Ridgeview Falls Apartments DST, a private placement offering that seeks to raise $35.2 million in equity from accredited investors and has a minimum investment of $50,000.
“Villas at Ridgeview Falls is the next in the line of highly-amenitized, newly constructed, Class A apartment communities acquired by Capital Square for the 1031/DST program,” said Louis Rogers founder and chief executive officer of Capital Square. “Capital Square was drawn to the location of this property – Olathe, the seat of Johnson County, 20 miles southwest of Kansas City, where the economy is strong, with 4.4 percent job growth and a 3.5 percent unemployment rate as of September 2021.”
Located at 11835 S. Fellows St., the community is located near major highways and interstates and is within walking distance of many convenience and grocery stores, as well as dining options.
Completed in 2020, the community is comprised of one- and two-bedroom units with an average size of 1,046 square feet.
Amenities at the community include a saltwater pool, a poolside television and lounge, golf green, yoga area, walking trail with outdoor fitness equipment, and 24-hour fitness center. Additional amenities include a media room, cybercafé, social lounge, garages and carports, as well as a pet spa.
Capital Square specializes in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Since 2012, Capital Square has completed $4.2 billion in transaction volume. Capital Square’s related entities provide due diligence, acquisition, loan sourcing, property/asset management, and disposition, for high-net-worth investors, private equity firms, family offices and institutional investors.