RICHMOND, Va. (Sep. 23, 2020) – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced today that the firm has launched CS1031 Williamsburg VA Apartments, DST. The Regulation D private placement is comprised of Elan Williamsburg, a newly constructed, Class A apartment community in Williamsburg, Virginia.
“Elan Williamsburg is the latest in a line of Class A multifamily communities acquired by Capital Square directly from developers following the initial lease-up of the property,” said Louis Rogers, founder and chief executive officer of Capital Square. “Capital Square acquires properties of this caliber for 1031 exchange and cash investors who seek the safety and security of a brand new property under warranty along with competitive cash flow and upside appreciation over time.”
CS1031 Williamsburg VA Apartments, DST seeks to raise $21.4 million in equity from accredited investors with a minimum investment of $50,000. The acquisition was financed by Fannie Mae with a 2.80% fixed rate 10-year loan.
Located at 100 Whitworth Way in the heart of Hampton Roads, Elan Williamsburg is comprised of 198 units. The community features one-, two- and three-bedroom units ranging in size from 712 square feet to 1,232 square feet. Situated on approximately 9 acres of land, Elan Williamsburg has four three-story buildings and a clubhouse. The multifamily community was constructed in 2018 and is approximately 93% occupied as of August 7, 2020.
Elan Williamsburg has resort-style amenities, including a luxurious resident clubhouse; beach entry pool with two designated lap lanes; poolside fire pit lounge; game room; a fitness center, which includes Peloton and SYNRGY360; and a yoga room where classes are also held. Additional amenities include summer kitchens with outdoor grilling and dining areas; an Amazon Hub package concierge, garage parking, additional storage, walking trails throughout the community and direct access to The Reserve trail network.
“Elan Williamsburg is a best-in-class multifamily community that benefits from its favorable location as well as its diverse resident base,” said Whitson Huffman, chief strategy and investment officer. “This DST offering is a unique opportunity for investors to own one of the best assets within a growing market – a property that most would not be able to afford on their own.”
Since inception, Capital Square has acquired 113 real estate assets for approximately 2,200 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 more than $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, 2019 and 2020, 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.