Capital Square, a sponsor of tax-advantaged real estate investments, announced the acquisition of Brighton Woodstock, a build-for-rent, 100-unit townhome community in the Atlanta suburb of Acworth, Georgia.
The community was acquired on behalf of CS1031 Brighton Woodstock BFR Housing DST, which seeks to raise $22.5 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Brighton Woodstock is a new build-for rent townhome community in Atlanta’s affluent and high barrier to entry Acworth/Cherokee County submarket. Build-for-rent communities are professionally managed neighborhoods of highly amenitized single-family rental homes,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This unique asset class is similar to gated residential neighborhoods that cater to residents’ desire for the space of a single-family home with the convenience and community feel of a multifamily rental.”
Located at 5900 Woodstock Road, the single-family residential community features open floorplans averaging 1,480 square feet with various features and finishes, island kitchens, attached garages, private patios, and in-unit washer and dryers. Community amenities include a picnic and activity lawn, firepit and grilling area, kids park and playground, a dog park and a walking trail. Mobile car detailing, valet dry cleaning and housekeeping services are also available to residents.
Brighton Woodstock is approximately five miles from Kennesaw State University, one of the largest universities in Georgia and a leading employer in the Atlanta metropolitan area. Greater Atlanta gained 135,000 jobs in 2021 and is one of the Southeast’s major employment hubs for significant technology companies, including Google, Microsoft and Facebook, as well as numerous medical institutions and other universities, such as Emory and Georgia State. According to the U.S. Census Bureau, Atlanta experienced the fourth highest population growth in the nation between 2010 and 2021.
“Brighton Woodstock is in the heart of one of the nation’s fastest growing regions and in Atlanta’s affluent Cherokee County submarket, which has experienced average rent growth of 9.6% for the past five years. The Atlanta region continues to maintain its position as a top MSA in the Southeast, with 135,000 jobs gained in 2021, and the fourth highest population growth in the nation,” said Whitson Huffman, co-chief executive officer. “This property is particularly appealing from an investment perspective due to its location in Atlanta’s least supplied north suburban market, which enjoys the most attractive rent-growth projections in the metropolitan region.”
According to global commercial real estate services firm Cushman & Wakefield, Cherokee County home values have grown 130% over the past decade and average household income has reached $90,000 within a one-mile radius of the Brighton Woodstock property.
Since its founding in 2012, Capital Square has completed more than $7.5 billion in transaction volume.