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Capital Square Living Assumes Management of Multifamily Property in Alabama

Capital Square Living Assumes Management of Multifamily Property in Alabama. Adviser, Broker, Broker-Dealer, Financial Services, Investment Adviser, RIA, Registered Investment Adviser, Commercial Real Estate, Real Estate, Multifamily, Capital Square, REIT, Real Estate Investment Trust

Capital Square Living, the wholly owned multifamily property management subsidiary of Capital Square, announced the assumption of management of FarmHaus Apartments, a 324-unit Class A multifamily community located in the Huntsville suburb of Madison, Alabama.

The property, the first Alabama community to join the Capital Square Living portfolio, is owned by a Delaware statutory trust sponsored by Capital Square.

“We are thrilled to include FarmHaus Apartments as the first Alabama community in the Capital Square Living portfolio,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “It represents a significant milestone in our expansion strategy, aligning perfectly with our mission to deliver excellent living experiences in high-quality multifamily properties.”

FarmHaus Apartments, located at 1260 Balch Road, is a 22-acre property that offers open-concept one-, two- and three-bedroom units averaging 973 square feet. Each unit features top-of-the-line 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. Residents benefit from community amenities such as 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.

According to Capital Square Living, the property’s location along Highway 72 provides residents easy access to multiple job centers throughout the Huntsville area, and it is adjacent to the Clift Farm master development which contains numerous retail outlets and a 400,000-square-foot Publix.

Capital Square Living is in the process of assuming management of 45 multifamily communities comprising more than 11,000 units owned by Capital Square’s affiliated apartment REIT, DST programs, and opportunity zone funds. In 2023, the firm added a total of 29 Virginia and Georgia properties, including four Virginia multifamily communities, as previously reported by The DI Wire.

“Capital Square’s vertically integrated business model has worked to improve the living experience of our residents and will continue to create more value for our investors as we expand our footprint into Tennessee, and subsequently into three additional states by fall 2024,” said Gus Remppies, multifamily veteran and president of Capital Square Living. “Capital Square Living provides the first-class amenities and superior customer support that our residents deserve and have come to expect.”

Capital Square is a vertically integrated national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion, and a real estate investment trust (REIT). Since 2012, Capital Square has completed more than $7.8 billion in transaction volume.

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