Capital Square Realty Advisors, LLC (Capital Square) recently completed a Delaware Statutory Trust (DST) investment offering comprised of two parking garages in downtown Chicago.
“This DST portfolio provides investors the opportunity to participate in the ownership of a unique real estate sector that can provide steady income and inflation protection, as parking rates can be readily adjusted, unlike other commercial real estate asset classes,” commented Louis Rogers, founder and CEO of Capital Square Realty Advisors.
The properties were acquired in partnership with Century Parking Group in late 2014. The offering, CSRA Chicago Parking I, DST, owns a seven-story valet parking garage located at 100 E. Walton St. and 1 N. Halsted Street, which is part of Skybridge, a mixed-used development.
“The parking garages are 100 percent leased to Buddy’s Parking, a local parking operator, and are located in heavily trafficked districts of downtown Chicago with high barriers to entry. They also benefit from their proximity to numerous retailers, restaurants, office buildings and residential towers either on site or within walking distance,” added Rogers.