Capital Square 1031 Acquires Newly Constructed, Class A+ Multifamily Community in Metro Atlanta
The acquisition is on behalf of a Delaware statutory trust investment offering that seeks to raise
$63.82 million in equity from accredited investors
ATLANTA (Nov. 9, 2021) 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 newly constructed multifamily community in Acworth, Cherokee County, within Metro Atlanta. The 339-unit multifamily community was acquired on behalf of CS1031 The Quincy Apartments, DST.
“The Quincy is a Class A+, 339-unit apartment community in Cherokee County, within Metro Atlanta,” said Louis Rogers, founder and chief executive officer of Capital Square. “Cherokee County reported the second-highest population growth among all of the counties in the Atlanta-Sandy Springs-Roswell, GA MSA between the 2010 Census and the 2020 Census. Completed in 2021, the property’s initial lease-up was completed in only eight months, demonstrating exceptionally strong demand due to strong employment growth and proximity to Interstate 575 with new express lanes for quicker commutes throughout Metro Atlanta.”
Located at 900 Buice Lake Parkway, the community is situated on 17.71 acres of land. The Quincy features one-, two- and three-bedroom floorplans with an average unit size of 1,023 square feet.
Residents at The Quincy benefit from the community’s location in the Atlanta-Sandy Springs-Roswell, GA Metropolitan Statistical Area. The area offers convenient access to numerous recreational opportunities, retail services and employment opportunities including downtown Woodstock and Lake Allatoona.
The Quincy is approximately 19 miles from the 28-million-square-foot Cumberland/Galleria office submarket. The submarket is home to the headquarters of Home Depot, Comcast, HD Supply, Genuine Parts and Synovus Financial. Additionally, new headquarters for TK Elevator and Papa John’s have recently been delivered to the area.
Community amenities include a swimming pool with a tanning shelf and gas grilling station, a covered patio with natural gas fireplace and a resident lounge with television, surround sound and Wi-Fi. Additional amenities include a state-of-the-art fitness center with cardio and strength-training equipment, conference space with individual work rooms, lawn/event space with outdoor seating, a dog park, a mail center room with package delivery lockers as well as for-rent garage parking and storage units.
RangeWater Real Estate will continue to professionally manage The Quincy on behalf of Capital Square.
CS1031 The Quincy Apartments, DST seeks to raise $63.82 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“The Quincy enjoys excellent economic fundamentals,” said Whitson Huffman, chief strategy and investment officer. “The MSA’s unemployment rate was 3.2% as of July 2021, and added 155,000 new jobs over the prior 12-month period. The county’s unemployment rate was only 2.0% in July 2021. The submarket had a 96.8% multifamily occupancy rate and 18.6% rent growth year-over-year, as of September 2021. Yardi Matrix forecasts a 5.8% rent growth by year-end 2022. Occupancy is anticipated to remain between 96.7% and 97.5% between 2022 and 2026, and only one property is under construction within a three-mile radius of the property.”
Since its founding in 2012, Capital Square has acquired 141 real estate assets for over 3,500 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 $3.6 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 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 was listed by Virginia Business on their “Best Places to Work in Virginia” report in 2019 and 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 November 9, 2021