Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of multifamily communities, announced today that its offering, CS1031 Hunter’s Chase DST, has been fully subscribed. The Regulation D private placement, which raised nearly $48.2 million from accredited investors, consists of a 320-unit apartment community in the Richmond, Virginia suburb of Midlothian.
“After a decade that included over 135 investment offerings, you would think it would get old. But the closeout of a DST offering never does,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This is the starting point of a new journey, building generational wealth for investors who have joined Capital Square to invest in Hunter’s Chase Apartments as their Section 1031 replacement property to defer taxes from the sale of an investment property. The investor group includes those local to central Virginia as well as many from the west coast, all of whom desire stable cash flow and appreciation by investing in the greater-Richmond economy,” said Rogers.
Located at 5200 Hunt Master Drive, the 24.7-acre garden-style apartment community offers one-, two- and three-bedroom units, averaging 816 square feet with spacious floor plans, walk-in closets, in-unit washer and dryer, stainless steel appliances and private screened patios and balconies. Community amenities include a resident clubhouse with coffee bar, fully equipped fitness center, swimming pool with a sundeck, multi-use sports court, BBQ and picnic areas, fenced dog park, playground, carwash station and package lockers.
Hunter’s Chase is adjacent to the Village at Swift Creek and Commonwealth Center, which both offer residents a wealth of local shopping and dining options.
“Hunter’s Chase Apartments is part of Richmond’s thriving multifamily submarket, where quality living is in constant demand,” said Whitson Huffman, co-chief executive officer. “The region’s growth is expected to continue through 2025 and beyond with positive rent growth and impressive occupancy rates that will only serve to raise the demand for quality multifamily living.”
Capital Square is an active owner, developer and manager of multifamily communities in Virginia and throughout the Southeast. Among their many active initiatives, the firm recently broke ground on a 352-unit, Class A multifamily development in the Scott’s Addition neighborhood of Richmond. Development of the community is being financed by CSRA Opportunity Zone Fund VII, a qualified opportunity zone fund that is currently raising up to $41.4 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Since its founding in 2012, Capital Square has acquired 170 real estate assets for over 6,000 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.
(This news/press release has not been altered by investment.net, apart from the headline, and has been obtained from a syndicated source:- prnewswire.com/news-releases/capital-square-fully-subscribes-dst-offering-of-multifamily-community-near-richmond-virginia-301849066.html#:~:text=RICHMOND%2C%20Va.%2C%20June%2013,DST%2C%20has%20been%20fully%20subscribed.)