Capital Square 1031 Adds Fifth Multifamily Community in Chattanooga, Tennessee to DST Portfolio
The acquisition is on behalf of a Delaware statutory trust investment offering that seeks to raise $45.34 million in equity from accredited investors
CHATTANOOGA, Tenn. (Dec. 22, 2021) Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of One Riverside, a 280-unit multifamily community in Chattanooga, Tennessee. Completed in 2020, the community was acquired on behalf of CS1031 One Riverside Apartments, DST.
“Chattanooga is a gem of a city with the feel of Austin or Nashville before they took off,” said Louis Rogers, founder and chief executive officer of Capital Square. “The combination of natural beauty and economic opportunity is unrivaled in the region.”
Located at 950 Riverside Drive, the 280-unit community features one- and two-bedroom units situated on 17.7 acres of land. One Riverside is located approximately two miles from downtown Chattanooga and offers residents convenient access to numerous employers and community points of interest. Nearby attractions include the Tennessee Riverwalk, a 16-mile hike-and-bike trail that connects the property to downtown Chattanooga, the Walnut Street Pedestrian Bridge, the Tennessee Aquarium and Hunter Museum of American Art. The community is also near AT&T Field, home of the Chattanooga Lookouts, the Double-A Minor League Baseball affiliate of the Cincinnati Reds.
“One Riverside is ideally located in the Chattanooga East submarket, providing residents with convenient access to numerous employers and community points of interest,” said Whitson Huffman, chief strategy and investment officer. “The property’s submarket has high barriers to entry with only one other property under construction within a three-mile radius. This premier location coupled with high-end amenities makes this property an exceptional addition to our portfolio of multifamily DST properties.”
Amenities at the gated community include a clubhouse with resident lounges, a gaming area, clubhouse kitchen, business center, coffee bar and meeting rooms. Additional amenities include a state-of-the-art fitness center with digital on-demand and weekly onsite classes, a yoga studio, outdoor grilling stations, package delivery lockers, a saltwater pool with tanning ledge, a pet spa, kayak storage and an outdoor covered patio with fireplace.
CS1031 One Riverside Apartments, DST seeks to raise $45.34 million in equity from accredited investors and has a minimum investment requirement of $50,000.
This is Capital Square’s fifth acquisition of a multifamily community in Chattanooga, creating management efficiencies and economies of scale.
Since its founding in 2012, Capital Square has acquired 143 real estate assets for over 3,800 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors seeking stable cash flow and capital appreciation.
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. Since 2012, Capital Square has completed more than $3.6 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. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro’s Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense’s list of fastest growing companies. Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” report in 2019 and 2021 as well as on their “Fantastic 50” reports in 2019 and 2020. 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. Private placements are speculative. Diversification does not guarantee profits or protect against losses.
- On December 22, 2021