Capital Square, a sponsor of Delaware statutory trust offerings, has purchased a newly built, 309-unit Class A multifamily community in Louisville, Kentucky.
The community, developed by LIV Development, was purchased on behalf of CS1031 The Louis Apartment Flats, DST, a Delaware statutory trust offering that seeks to raise roughly $60.5 million in equity from accredited investors.
Located at 3750 Chamberlain Lane, The Louis was completed in 2021 and is comprised of one-, two-, and three-bedroom units with an average unit size of 966 square feet. Community amenities include a swimming pool with poolside cabanas, 24-hour fitness center, a resident lounge with a complimentary coffee bar, business center with private workspaces and printing stations, fenced pet park with pet spa, and 24-hour onsite community market.
“Capital Square is bullish on Class A multifamily investments because they generate an unrivaled combination of stable cash flow, appreciation potential, and inflation protection,” said Louis Rogers, founder and chief executive officer. “The facts speak for themselves: for over two years, in spite of the pandemic, Capital Square has collected approximately 99 percent of all rents due on nearly 11,000 apartment units across the southeast. Investors are flocking to the multifamily asset class even more today because of the proven inflation protection.”
The property is within two miles of multiple retailers, restaurants and entertainment venues, and is also within close proximity of Interstate 265, allowing residents access to Greater Louisville and the surrounding region.
“Capital Square acquires high quality apartment communities in high growth markets in the mid-south and Southeast,” said Whitson Huffman, chief strategy and investment officer. “Though a currently challenging macro-economic environment, the housing crisis in this country has created strengthening fundamentals in our target markets and multifamily investment continues to provide strong opportunities for compelling risk-adjusted returns for investors and will do so for the foreseeable future.”
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 $5.4 billion in transaction volume. The company’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.