WASHINGTON, April 23, 2020 /PRNewswire/ -- Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings, announced today that CS1031 Misty Ridge Apartments, DST has been fully subscribed. The Reg. D private placement investment offering raised approximately $40.95 million in equity.
"Misty Ridge Apartments is another Class B, value-add apartment community that works exceptionally well for Section 1031 exchange and cash investors seeking stable returns and appreciation," said Louis Rogers, founder and chief executive officer. "By making strategic upgrades, Capital Square is able to increase the rent over time, which results in an increasing net operating income. As NOI increases, so do distributions to investors and the property's valuation."
Located at 1989 Delaware Drive, Misty Ridge Apartments is a garden-style multifamily community situated on approximately 26 acres of land. Constructed in 1989, the community has one- and two-bedroom floorplans ranging in size from 786 square feet to 814 square feet. Community amenities include a resort-style swimming pool, fitness center, tennis court, dog park, business center, playground, outdoor kitchen and private patios.
Misty Ridge Apartments, which has rail access to Alexandria, Arlington and downtown Washington D.C. via the Virginia Railway Express, is an approximately 30-minute drive from the Amazon HQ2 campus where roughly 25,000 jobs will be created.
"Misty Ridge has benefited from stable occupancy due to its location near numerous employment centers in northern Virginia," said Whitson Huffman, senior vice president and head of acquisitions. "The addition of Amazon HQ2 to the broader area is expected to drive economic value and rents in the multifamily market. Misty Ridge is also conveniently located near the VRE, a commuter rail system with easy access to HQ2 and downtown Washington, D.C."
Since inception, Capital Square has acquired 107 real estate assets for more than 2,000 investors nationwide seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code as well as for investors seeking cash flow and appreciation potential.
About Capital Square
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. To date, Capital Square has completed approximately $2 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.
Disclaimer: 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 see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing.
SOURCE Capital Square 1031