April 30, 2021
ATLANTA, GA – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced the acquisition of SouthLawn Lawrenceville, newly constructed multifamily community with retail space in Lawrenceville, a suburb of Atlanta, Georgia. The community was acquired for CS1031 SouthLawn Lawrenceville Apartments, DST, a Reg. D private placement.
“SouthLawn Lawrenceville is the next in Capital Square’s line of newly constructed, Class A multifamily communities in the Southeast,” said Louis Rogers, founder and chief executive officer of Capital Square. “It is the highest quality, walkable, mixed-used community in the area. In addition, Atlanta is the business center of the South East, with major employers following businesses into the Peach State. Microsoft, Airbnb, Honeywell, GE Digital and BlackRock are opening major facilities in the area, adding jobs and increasing demand for quality apartments.”
Located at 30 S. Clayton St., the community was constructed in 2020. SouthLawn Lawrenceville is comprised of 430 units and approximately 15,000 square feet of street-level retail space. Situated on 14 acres of land within downtown Lawrenceville, the community features studio, one-, two- and three-bedroom units ranging in size from 622 square feet to 1,375 square feet.
Community amenities include electric car charging stations, two bicycle storage rooms with maintenance stations, a dog park and dog grooming room, two business centers with private workrooms and two private conference rooms. The property also features three resort-style pools with cabanas, including a roof-top pool above the clubhouse, poolside outdoor grilling areas, a resident clubhouse with multiple lounges and meeting areas, two fitness centers with Peloton bikes and TRX equipment, package delivery lockers for Amazon and other e-commerce deliveries as well as detached garages that are available for rent.
Alexandra Huffman, Justin Nelson and Lynn Pearson with Walker & Dunlop sourced the acquisition loan, which has a 10-year term and a 3.55% fixed interest property loan rate.
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