Home Alts News Capital Square Acquires Multifamily Community in Alabama for DST Offering

Capital Square Acquires Multifamily Community in Alabama for DST Offering

Capital Square, a sponsor of tax-advantaged real estate investments, acquired FarmHaus Apartments, a 324-unit Class A multifamily community located in the Huntsville suburb of Madison, Alabama.

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Capital Square, a sponsor of tax-advantaged real estate investments, acquired FarmHaus Apartments, a 324-unit Class A multifamily community located in the Huntsville suburb of Madison, Alabama.

The community was acquired on behalf of CS1031 FarmHaus Apartments, DST, which seeks to raise $55.9 million in equity from accredited investors and has a minimum investment requirement of $50,000.

“Huntsville is the epicenter of the military defense industry,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “With more PhDs and engineers per capita than any other city in the U.S., this tech-centric city is home to the nation’s second-largest research park, the U.S. Space & Rocket Center, and Redstone Arsenal that supports the national defense with large groups from the Department of Defense, Department of Justice, and NASA.1 Expanding Capital Square’s multifamily investment footprint in this stable and growing market just makes sense.”

Located at 1260 Balch Road, the 22-acre property offers open-concept one-, two-, and three-bedroom units averaging 973 square feet with various finishes, including stainless steel appliances, standalone kitchen islands with quartz countertops, in-unit washers and dryers, walk-in closets, keyless entry access and private patios or balconies.

Community amenities include a resort style pool with large sundeck and cabanas, hot tub and spa, state-of-the-art fitness center, business center with a coffee bar, TV and gaming lounge, communal grilling station, as well as a fenced in dog park and pet spa.

“FarmHaus Apartments is a Class A multifamily community located in an affluent part of Greater Huntsville, where population growth has exceeded 30 percent since 2000 and continues to expand at a rapid pace,” said Whitson Huffman, co-chief executive officer. “The local economy is vibrant and demand for quality rental living continues to far exceed available supply, making FarmHaus an attractive opportunity for Capital Square and the investors we serve.”

FarmHaus is adjacent to the Clift Farm master development, which is home to numerous retail outlets including a 400,000-square-foot Publix. The property’s location along Highway 72 provides residents easy access to multiple job centers throughout the Huntsville area, including Redstone Arsenal, Cummings Research Park and the newly opened Mazda Toyota Manufacturing facility.

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