Capital Square 1031, a sponsor of Delaware statutory trust offerings, has fully subscribed CS1031 Saltmeadow Bay Apartments DST, a Regulation D private placement offering comprised of Saltmeadow Bay Apartments & Townhomes, a Class A, 229-unit multifamily community in Virginia Beach, Virginia.
“Capital Square 1031 focuses on multifamily properties in the Southeast for stable cash flow and capital appreciation,” said Louis Rogers, founder and chief executive officer. “Saltmeadow enjoys high occupancy that produces stable cash flow with the potential for meaningful rent growth over time that leads to capital appreciation on sale.”
Constructed in 2006, Saltmeadow Bay Apartments sits on 24 acres of land and is comprised of four residential buildings with one-, two- and three-bedroom floorplans ranging in size from 866 square feet to 1,598 square feet.
Amenities at the gated community include a resident clubhouse, controlled-access buildings, elevator-serviced buildings, a swimming pool, 24-hour fitness center, dog park, onsite storage and covered parking and garages.
In related news, last week the company subscribed another DST offering, CS1031 Midwest Dialysis DST, comprised of a 9,000-square-foot dialysis clinic located in East Chicago, Indiana.
Capital Square is a real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Capital Square has completed approximately $2 billion in transaction volume. The company’s related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for high net worth investors, private equity firms, family offices and institutional investors.
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