December 18, 2017
Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust investments, has acquired High Ridge Apartments, a 160-unit multifamily community in Athens, Georgia. High Ridge Apartments is the company’s 41st DST offering.
Situated on 18 acres of land, High Ridge Apartments is comprised of 11 two- and three-story residential apartment buildings consisting of one-two- and three-bedroom units, with an average size of 1,228 square feet.
“The DST industry is growing at a rapid pace as the baby boomers and others seek a passive, investment-grade replacement property for their 1031 exchanges. Multifamily properties that generate stable cash flow have become the most popular asset class for DST offerings,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.
“With limited new construction in the past 10 years, an occupancy rate of 95 percent and a rental growth of nearly 5 percent, Athens is an exceptional multifamily rental market,” Rogers added. “High Ridge aligns perfectly with Capital Square 1031’s strategy of acquiring institutional-quality assets in favorable markets with strong multifamily fundamentals that translate to stability and long-term growth for Capital Square’s growing number of investors.”
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- On December 18, 2017