ATLANTA, April 16, 2020 /PRNewswire/ -- Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings, announced today that CS1031 Bedford Parke Apartments, DST, comprised of a 232-unit multifamily property near Macon, Georgia, has been fully subscribed.
"Bedford Parke Apartments is an exceptional property that was 100% leased with a waiting list at closing," said Louis Rogers, founder and chief executive officer. "Capital Square has sponsored 31 multifamily DST offerings, which have been extremely popular among 1031 exchangers and cash investors who seek stable cash flow and appreciation potential."
Located at 1485 Leverette Road in Warner Robins, the largest city in Houston County, Georgia, Bedford Parke Apartments is comprised of 277,240 rentable square feet of space. The property has one-, two- and three-bedroom units ranging in size from 850 square feet to 1,438 square feet of space.
"Bedford Parke is a classic illustration of Capital Square's strategy to purchase Class B, value-add apartments in markets with strong employment growth and affordable rents," said Whitson Huffman, senior vice president and head of acquisitions. "Bedford Parke benefits from a strong employment base, including Robins Air Force Base, Frito Lay and Perdue Farms. Also, as Capital Square's value-add strategy is implemented through property upgrades, rents can be raised to increase cash flow and add value to the property."
Constructed in 2008, Bedford Parke Apartments features 24 private garages available to rent. Community amenities include an executive business center, fitness center, resident lounge, grilling/picnic area, sauna, sand volleyball court, playground, pool with sundeck and picnic pavilion, laundry facility, covered car-care center, rentable storage units, fenced perimeter and gated community access.
Since inception, Capital Square has acquired 107 real estate assets for over 2,000 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
About Capital Square 1031
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Capital Square has completed approximately $1.9 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. 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. In 2017, 2018 and 2019, Capital Square was awarded by Inc. 5000 as one of the fastest growing companies. In 2017 and 2018, the company was also ranked on Richmond BizSense's list of fastest growing companies. In 2019, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" and "Fantastic 50" reports. To learn more, visit www.CapitalSquare1031.com.
SOURCE Capital Square 1031