Capital Square 1031 Buys Richmond Community

August 16, 2021

Capital Square 1031 has acquired Livingston Apartment Flats, a 307-unit community in Richmond, Va., from LIV Development. The recently completed property is part of the 68-acre Cosby Village development.

The company purchased the Class A property on behalf of the CS1031 Livingston Apartment Flats Delaware Statutory Trust, looking to raise $44.5 million in equity from accredited investors.

According to Chesterfield County records, LIV Development purchased the land spanning 9.3 acres in 2019 for $6 million. The developer funded the construction with a $39.7 loan provided by Truist Financial Corp.

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