Capital Square 1031 buys Promenade at Newnan Crossing for $65.8 Million

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Capital Square 1031 buys Promenade at Newnan Crossing for $65.8 Million

October 13, 2020

Capital Square 1031, a sponsor of Delaware statutory trust oferings for Section 1031 exchanges, has purchased the Promenade at Newnan Crossing, a 298-unit multifamily property. The frm purchased the property for $65.8 million from joint venture partners PointOne Holdings, Batson- Cook Development Company and Novare Group.

Promenade at Newnan Crossing consists of three-story apartment buildings, and rental townhomes on approximately 24 acres.

The development is part of a 123-acre mixed-use master development with retail, ofce, restaurant and residential space. The LINC, a 25.5-mile multi-use pedestrian pathway connecting the entertainment and commerce hubs of Newnan, runs adjacent to the property.

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