November 27, 2018
Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, has sold a portfolio of three manufactured housing communities located in Indiana and Ohio for an undisclosed amount.
The company noted that the portfolio was owned by a group of DST investors who realized 116 percent total return of equity and 11.26 percent annualized total return on equity from their 1031 exchange investment.
“Capital Square is pleased to have recognized and seized the opportunity to sell this portfolio of manufactured housing communities on behalf of our DST investors, which resulted in a significant return on their investment in just four years,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.
The manufactured housing portfolio includes Timberbrook, a 567-lot community located in Bristol, Indiana; Woodlake-Sommerdale, a 338-lot community located in Yoder, Indiana; and Byrne Hill, a 236-lot community located in Toledo, Ohio.
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