Capital Square 1031, a sponsor of Delaware statutory trust offerings, has purchased The Quincy, a newly constructed 339-unit multifamily property in the Atlanta suburb of Acworth, Georgia in Cherokee County.
The Class A+ property was purchased on behalf of CS1031 The Quincy Apartments DST, a Regulation D private placement offering that seeks to raise $63.8 million in equity from accredited investors and has a minimum investment of $50,000.
Louis Rogers, founder and chief executive officer of Capital Square, said that “Cherokee County reported the second-highest population growth among all of the counties in the Atlanta-Sandy Springs-Roswell, GA MSA between the 2010 Census and the 2020 Census.”
“Completed in 2021, the property’s initial lease-up was completed in only eight months, demonstrating exceptionally strong demand due to strong employment growth and proximity to Interstate 575 with new express lanes for quicker commutes throughout Metro Atlanta,” added Rogers.
The Quincy is situated on nearly 18 acres of land and is comprised of one-, two- and three-bedroom floor plans with an average unit size of 1,023 square feet.
Community amenities include a swimming pool with a tanning shelf and gas grilling station, a covered patio with natural gas fireplace and a resident lounge with television, surround sound and wifi. Additional amenities include a fitness center, conference room, lawn/event space with outdoor seating, a dog park, and for-rent garage parking and storage units.
RangeWater Real Estate will continue to manage The Quincy on behalf of Capital Square.
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. Since 2012, Capital Square has completed more than $3.6 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.
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