Capital Square 1031, a sponsor of Delaware statutory trust offerings, has launched CS1031 Maplewood Estates MHC DST, a Regulation D private placement offering comprised of Maplewood Estates, an age-restricted manufactured housing community the Orlando suburb of Port Orange.
The DST offering seeks to raise $38.6 million in equity from accredited investors with a minimum investment of $50,000.
This latest offering is Capital Square’s third that focuses on 55+ manufactured housing communities in coastal Florida. In July, the company launched CS1031 Fairlane Harbor MHC DST, comprised of Fairlane Harbor Homes in Vero Beach. Last month, they launched CS1031 Harbor View MHC LLC, comprised of Harbor View in Port Charlotte.
Louis Rogers, founder and chief executive office of Capital Square, claims that the assets are “some of the most desirable…in the country, highly sought after by institutional investors.”
Maplewood Estates has 412 homesites situated on 77 acres of land and is 94.4 percent occupied as of September 2020.
Whitson Huffman, chief strategy and investment officer, claims that current rents at the property are approximately 23 percent below submarket rates.
Capital Square is a national 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. To date, Capital Square has completed more than $2.2 billion in transaction volume.
The firm’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.