Capital Square 1031 Launches DST Offering of 360-Unit Multifamily Community in North Carolina

Offering seeks to raise $26 million in equity from accredited investors

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Apr 28, 2020, 08:00 ET

GREENSBORO, N.C., April 28, 2020 /PRNewswire/ -- Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings, announced today the launch of CS1031 Abbington Place Apartments, DST. The Regulation D private placement is comprised of Abbington Place Apartments, a Class B+, 360-unit multifamily community located in Greensboro, within the Piedmont Triad region of North Carolina.

"Abbington Place is an exceptional investment property for Capital Square's 1031 exchange/DST offering portfolio," said Louis Rogers, founder and chief executive officer of Capital Square 1031. "This property reflects the many attributes that Capital Square seeks in a Class B apartment community to produce stable returns with appreciation potential for 1031 exchange and cash investors. The property is well-maintained, enjoys high occupancy of over 96%, is located in a desirable area and has limited local competition. A 2.99% fixed interest rate on a 10-year loan from Fannie Mae is the icing on the cake. Despite market-wide fears regarding the current state of the economy in the midst of the coronavirus pandemic, Capital Square continues to acquire quality real estate for a growing number of investors nationwide."

CS1031 Abbington Place Apartments, DST seeks to raise $26 million in equity from accredited investors with a minimum investment of $50,000.

Located at 1521 Bridford Parkway in Greensboro, North Carolina, Abbington Place Apartments is comprised of 413,400 square feet of space with one-, two- and three-bedroom units ranging in size from 823 square feet to 1,418 square feet of space. Situated on 37.5 acres of land, the property features 30 residential buildings. Community amenities include a business center, car care center, clubhouse with leasing office, dog park, fitness center, playground, sand volleyball court, swimming pool, bike pavilion, storage units, mail center, maintenance building, two tennis courts, four garage buildings and controlled access gates.

"Abbington Place is well-located near major employers and features easy access to the Piedmont International Airport and extensive retail options," said Whitson Huffman, senior vice president and head of acquisitions. "Capital Square was also attracted to the property's potential for organic rent increases resulting from a limited supply of new, competing multifamily product in the area and the seller's investment of over $3.8 million in capital upgrades. This is an excellent addition to Capital Square's growing multifamily portfolio of three apartment communities."

Capital Square represented itself in the transaction. Watson Bryant, Marc Robinson and Jordan McCarley from Cushman & Wakefield represented the seller.

Since inception, Capital Square has acquired 107 real estate assets for approximately 2,500 investors nationwide seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other 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 multi-family 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. Diversification does not guarantee profits or protect against losses.