The acquisition is on behalf of a Delaware statutory trust investment offering that seeks to raise $24.3 million in equity from accredited investors
VERO BEACH, Fla. (Feb. 9, 2022) Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced today the acquisition of a 55+ manufactured housing community in Sebastian, Florida. The community was acquired on behalf of CS1031 Palm Lake Club MHC, DST.
“This is Capital Square’s 10th acquisition of an age-restricted (55+) manufactured housing community in Florida for the 1031/DST program,” said Louis Rogers, founder and chief executive officer of Capital Square. “MHC properties in Florida are among the most desirable assets in the nation due to their scarcity, stability and growth potential. Also, MHC assets solve a need for residents as an affordable housing option, providing most benefits of a single-family home with the low cost of multifamily housing. For these reasons, Capital Square’s 1031 exchange investors are flocking to MHC investments for stable income and appreciation.”
Situated at 39 Treasure Circle in the rapidly growing Indian River County, Palm Lake Club is a 97.6% occupied community with 126 homesites. The property’s proximity to U.S. Highway 1 and Interstate 95 connects it to Vero Beach and offers additional access to Port St. Lucie, West Palm Beach and Boca Raton.
Palm Lake Club is close to parks, shopping, golf courses and wildlife preserves. Onsite amenities include a heated pool, clubhouse, library, recreational facilities, a shuffleboard court and a seven-acre lake surrounded by resident homes.
CS1031 Palm Lake Club MHC, DST seeks to raise $24.3 million in equity from accredited investors.
“Palm Lake Club is a well-positioned asset that offers investors significant upside potential through a value-add execution due to minimal rent escalations over the past 10 years combined with room for strategic improvements,” said Whitson Huffman, chief strategy and investment officer with Capital Square. “Capital Square intends to make investments into the community that will include upgrades to the clubhouse, landscaping, outdoor lighting, roadways and other amenities that will further enhance the value of the property to residents and investors alike.”
Since its founding in 2012, Capital Square has acquired 148 real estate assets for over 3,800 investors seeking quality replacement properties that qualify 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 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. Since 2012, Capital Square has completed more than $4.9 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. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro’s Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense’s list of fastest growing companies. Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” report in 2019 and 2021 as well as on their “Fantastic 50” reports in 2019 and 2020. 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. Private placements are speculative. Diversification does not guarantee profits or protect against losses.
- On February 9, 2022