Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, announced that its DST offering, CS1031 Carolina Industrial DST, has been fully subscribed by Section 1031 exchange investors. The offering is comprised of a corporate headquarters and manufacturing facility located in the Charlotte suburb of Mooresville, North Carolina. Financial details were not disclosed.
Located at 110 Barkley Park Lane, the Class A 151,000-square-foot facility serves as the corporate headquarters for Carolina Beverage Group, a co-packing producer for national and international beverage brands. The company focuses on co-packing specialty-sized cans, plastic bottles and glass containers for beverage brands, including Monster Energy, Red Bull, Rockstar, Pepsi, Spindrift and more.
“The Carolina Beverage headquarters and manufacturing facility, which is 100 percent leased to a quality tenant on an absolute net basis, is a very attractive investment for Section 1031 exchange investors,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.
“Located in the Charlotte MSA, the property is well positioned to benefit from the strong economic growth in the area and tailwinds in the industrial sector,” said Whitson Huffman, vice president of acquisitions. “Furthermore, the long-term lease with 18 years of remaining term will generate consistent cash flow for our investors during the holding period.”
In other company news, Capital Square 1031 recently purchased Bellemeade Farms Apartments, a 316-unit multifamily property located in Leesburg, Virginia, for a Delaware statutory trust offering, primarily for Section 1031 exchange investors.
The company has acquired 73 properties for more than 1,300 investors seeking replacement properties for tax deferral under Section 1031 of the Internal Revenue Code since its founding in 2012.
Capital Square 1031 provides a range of services, including 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 inception, Capital Square 1031 has sponsored 54 DSTs and has completed approximately $1 billion in transaction volume.