Capital Square Launches New Active Living DST Offering in Richmond's Short Pump Submarket

RICHMOND, Va., Dec. 29, 2025 /PRNewswire/ -- Capital Square, a leading sponsor of tax-advantaged real estate investments and a national developer and manager of housing communities, today announced the launch of CS1031 Richmond Active Adult Living Apartments, DST. The offering is a $33.3 million Delaware statutory trust, providing ownership interests in a 165-unit, Class A, age-restricted multifamily community in the Short Pump suburb of Richmond, Virginia. The offering is available to accredited investors only.

"Active adult communities such as Everleigh Short Pump reflect the convergence of powerful demographic trends, lifestyle-driven housing demand, and durable long-term fundamentals," said Louis Rogers, founder and co-chief executive officer of Capital Square. "As 1031 exchange investors increasingly seek high-quality replacement properties that offer both income potential and long-term growth, Capital Square believes well-located, age-restricted multifamily assets will continue to play an important role in a diversified real estate portfolio."

The community, Everleigh Short Pump, is 95.7% occupied and features one-, two- and three-bedroom units averaging 1,001 square feet, with nine-foot ceilings and premium interior finishes. Community amenities include a heated swimming pool, yoga studio, a sun deck, a great room for large gatherings and dining, as well as a resident lounge and theater room. The property is staffed with an activities director who creates engaging experiences for residents, including happy hours, fitness programs, and creative and educational classes.

Nearby, Eli Lilly, an $800 billion global pharmaceutical company, is constructing a $5 billion manufacturing facility on 227 acres, creating 650 permanent jobs and 1,800 construction jobs. Additionally, the LEGO Group recently broke ground on its new two-million-square-foot regional distribution center in Prince George County near Richmond. This investment of more than $360 million is expected to support over 300 jobs.

As one of America's oldest cities, Richmond combines its historic legacy with modern advantages, offering outdoor activities along the James River and a vibrant food scene. The Short Pump suburb gives residents access to 5.5 million square feet of retail, restaurants, entertainment and more. Everleigh Short Pump is located across from a Kroger-anchored shopping center and less than a half mile from Broad Street, the primary thoroughfare of Short Pump, with direct access to Richmond.

"Richmond continues to stand out as one of the most stable and compelling demographic markets in the Southeast," said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. "Both statewide and regional unemployment remain below national levels, and the city has experienced meaningful population growth over the past decade. These strong economic fundamentals and steady in-migration support long-term housing demand and reinforce our confidence in the market's continued performance."

As of August 2025, unemployment in both Virginia and the Richmond metro area was 3.7%, according to the Federal Reserve Economic Data database. This compares favorably to the national unemployment rate of 4.3% for the same period. Richmond Economic Development reports that over the past 10 years, the city of Richmond alone has experienced approximately 11% population growth. Within a five-mile radius of the property, over 30% of residents are age 55 and older, while another 12% are between 45 and 54, underscoring a sizable and growing older demographic.

Since its founding in 2012, Capital Square has acquired more than 175 real estate assets on behalf of over 6,500 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code, along with others seeking stable cash flow and capital appreciation.

About Capital Square
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). The company is also an active developer and manager of multifamily communities. Since 2012, Capital Square has completed more than $7.9 billion in transaction volume. Its mixed-use development projects total over 2,000 apartment units with a total development value in excess of $800 million, and Capital Square Living, the firm's property management division, oversees more than 13,000 apartments across multiple states. Capital Square's related entities provide a range of services – including due diligence, acquisition, loan sourcing, property/asset management and disposition – for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. The company has been recognized by Inc. 5000 as one of the fastest-growing private companies in the nation for nine consecutive years. Learn more at CapitalSq.com.

Disclosure
Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to sell any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative and illiquid. Diversification does not guarantee profits or protect against losses. FINRA Broker Check link: https://brokercheck.finra.org/.

SOURCE Capital Square