Capital Square Acquires Class A Multi-Family Houston Community for DST Offering
The acquisition is on behalf of a Delaware offering of statutory investment in trust which aims to increase $56.5 million in equity from accredited investors
HOUSTON, May 5, 2022 /PRNewswire/ — capital squareone of the nation’s leading sponsors of tax-efficient real estate investments and an active developer of mixed-use multi-family communities, today announced the acquisition of a 304-unit Class A multi-family community at Houston, TX. The community, developed by Wood Partners, LLC, was acquired on behalf of CS1031 Houston Apartments, DST, a Delaware offering of statutory trust for exchange of section 1031 and other investors (in cash).
“Capital Square sponsors the nation’s highest quality, newly constructed Class A apartment communities for the DST/1031 investment program,” said Louis Roger, founder and CEO of Capital Square. “CS1031 Houston Apartments is DST’s latest offering that sets the highest standards with unparalleled amenities and best-in-class quality.”
Located at 3623 W Alabama St., Houston Apartments offers studio, one-, two-, and three-bedroom units with best-in-class finishes. Community amenities include: a resort-style swimming pool with a sun deck; 24-hour state-of-the-art fitness center; sky lounge, with a kitchen, pinball machine, and outdoor seating with a fireplace; conceptual coworking spaces; pet spa; courtyard with outdoor lounge and fountain; and a club area with HDTVs, a pool table, lounge seating, and an entertainment kitchen.
Houston Apartments sits in the middle of some of the city’s wealthiest neighborhoods. According to CoStar, the average annual household income within a three-mile radius of the property exceeds $163,000while the property submarket has seen solid year-over-year rental growth of around 9.5% since the start of 2021.
The property is within five miles of several retailers, restaurants and entertainment venues. It is also close to highways 610 and 69, allowing residents easy access to Greater Houston and the surrounding region.
“Houston Apartments is an amenity-rich, luxury, multi-family community located in the middle of one of from Houston the most exclusive neighborhoods where there is high demand for apartments,” said Whitson Huffman, Chief Strategy and Investment Officer. “The property is ideal for affluent professionals who thrive on city living and the high-end shopping, dining and cultural amenities that are provided in larger cities. to like Houston.”
Home to 24 Fortune 500 companies and NASA’s Johnson Space Center, Houston is a thriving economic center and the unofficial capital of the United States oil and natural gas industry. Already the fourth most populous city in the country, Houston continues to experience rapid growth, with its population increasing by almost 10% between 2010 and 2020, according to the US Census Bureau.
CS1031 Houston Apartments, DST looking to increase $56.5 million in equity from accredited investors.
Since its inception in 2012, Capital Square has acquired 146 real estate assets for more than 5,000 investors seeking quality replacement properties eligible 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 company specializing in tax-efficient real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualifying opportunity zone funds for tax deferral and exclusion, and a real estate investment trust (REIT). In recent years, the company has become an active developer of multi-family, mixed-use properties in the Southeastern United States, with eight ongoing projects totaling approximately 2,000 apartments with a total development cost of more than $600 million. Since 2012, Capital Square has achieved over $5.6 billion in transaction volume. Capital Square 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, capital companies -investment, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the nation’s fastest growing companies for four consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense’s list of fastest growing companies. Additionally, Capital Square has been listed by Virginia Business on their “Best Workplaces in Virginiain 2019 and their “Fantastic 50” reports in 2019 and 2020. To learn more, visit www.CapitalSq.com.
Disclaimer: Securities offered by WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are significant risks associated with investing in DST properties and real estate securities, including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, risk interest rate fluctuations, the risk of new offerings coming to market and rental rates decreasing, general risks of owning/operating commercial and multi-family properties, short-term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long holding periods and the potential loss of all investment capital. Past performance is not indicative of future results. Potential cash flows, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax advisor 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 particular attention to the risk section before investing. Diversification does not guarantee profits or protect against losses. Private placements are speculative.
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SOURCE Capital Square