Capital Square Completes DST Offering of Manufactured Housing Portfolio
RICHMOND, Va. (March 30, 2015) – Capital Square Realty Advisors, LLC announced today that its Delaware Statutory Trust offering of a portfolio of three manufactured housing communities has been fully subscribed by investors. The portfolio includes 1,141 rentable lots located in Indiana and Ohio.
Capital Square Realty Advisors specializes in structuring real estate programs primarily for investors seeking tax deferral under Section 1031 of the Internal Revenue Code, using the Delaware Statutory Trust (DST) structure to satisfy IRS requirements. Capital Square has successfully completed its DST offering of three manufactured housing assets in the Midwest. “Manufactured housing is a unique asset class with significant barriers to entry,” said Louis Rogers, founder and chief executive officer of Capital Square.
“With low operating costs, strong demand from tenants and minimal roll-over, manufactured housing is an attractive asset class that has the potential to provide superior risk adjusted returns for investors, with both stable cash flow and capital appreciation.”
The largest community, Timberbrook, is located at 54686 County Road 19 in Bristol, Ind. The 103-acre property hosts 567 lots. Onsite amenities include a community center, two swimming pools, two basketball courts, two children’s playgrounds, off-street parking and on-site management. Accessible via Interstates 80 and 90, Timberbrook is situated within a two-mile radius of nearly 450 businesses.
The portfolio also includes Woodlake-Sommerdale, a 65-acre manufactured housing community featuring 338 lot sites. Located at 12204 Indianapolis Road in Yoder, Ind., the community features a clubhouse, playground and on-site management. It is situated within a five-mile radius of more than 1,200 businesses, including major local employers Coca-Cola Refreshments USA, Inc., Tuthill Corporation and International Paper Company. Woodlake-Sommerdale is easily accessible via Interstates 69 and 469.
Byrne Hill, the third community in the portfolio, is a 34-acre manufactured housing community located at 3601 Hill Road in Toledo, Ohio. The property includes a clubhouse, swimming pool, playground and on-site management. It is serviced by the Toledo Area Regional Transit Authority bus line and is adjacent to Great Expectations Elementary School, The Knight Academy middle school and Byrnegate Plaza Shopping Center. There are more than 1,500 businesses within a two-mile radius of Byrne Hill.
“Capital Square intends to continue exploring acquisitions in the manufactured housing sector and believes it is well positioned to create long term value by partnering with best in class operators and efficiently closing on assets once identified,” said Yogi Singh, Director of Acquisitions for Capital Square.
About Capital Square Realty Advisors LLC
Capital Square Realty Advisors, LLC specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive officer of Capital Square Realty Advisors, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DST, tenant-in-common, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.
