RICHMOND, Va. (May 21, 2018) – Capital Square 1031, a leading sponsor of Delaware statutory trust investments, announced today that CS1031 Fairway View Apartments, DST, comprised of a 243-unit multifamily community in Greater-Atlanta, has been fully subscribed by a total of 42 investors.
“This is an excellent example of Capital Square 1031’s strategy – helping investors acquire an interest in a higher quality replacement property than they could afford to purchase on their own,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “We are pleased to have fully subscribed the Fairway View Apartments offering, which provides tax-advantaged real estate ownership and capital appreciation potential to a growing number of Section 1031 exchange investors.”
The property was purchased at an attractive price with favorable 10-year, fixed rate debt at 3.69 percent from Fannie Mae, generating a solid cash flow for the DST investors. The property qualified for Fannie Mae’s Green Financing Program that reduced ownership’s utility bills and the interest rate on the loan. The loan was originated by Alexandra Huffman at Walker & Dunlop, LLC. It is the fifth loan originated by the Walker & Dunlop team for Capital Square under the DUS loan program.
Situated on more than 20 acres, Fairway View Apartments is located at 3345 Fairway Oaks Drive in Lawrenceville, and is comprised of 26 two- and three-story residential buildings, as well as standalone clubhouse/office, laundry and maintenance buildings. The property features golf course views, a coffee and tea bar, playground, sports court, swimming pool, grill/picnic area, pet walk and care stations, outdoor amenity area, laundry facility and more. The property’s one-, two-, three- and four-bedroom units average 1,089 square feet. Fairway View Apartments is approximately 95 percent occupied.
Sponsoring 44 DST offerings since its founding in 2012, Capital Square has helped more than 1,167 investors seek quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
About Capital Square 1031
Capital Square 1031 is a national real estate investment and management company. The firm sponsors institutional-quality real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code. Capital Square uses the Delaware Statutory Trust (DST) structure to make quality real estate available to a larger number of investors. Capital Square provides a range of services, including due diligence, acquisition, loan sourcing, property management/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. As of May 2, 2018, the firm oversees a growing national portfolio of 67 real estate assets valued at approximately $670 million (based on investment cost). In August 2017, Capital Square ranked 485th on the Inc. 5000 list of fastest growing companies, making it the top-ranking Richmond, Virginia-area company, with 925 percent three-year growth. In 2016, Capital Square was ranked as the second fastest growing company in the Richmond, Virginia area by Richmond BizSense. To learn more, visit www.CapitalSquare1031.com.
- On May 21, 2018