Capital Square Buys Texas Multifamily Property, Surpasses $500 Million in AUM
August, 30 2016
Capital Square 1031 LLC, a sponsor of replacement property for Section 1031 exchanges, has surpassed $500 million in assets under management with the acquisition of The Canopy, a 220-unit multifamily community located in the north central submarket of San Antonio.
“Capital Square 1031 couldn’t be more pleased to reach this milestone for our firm,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “Since inception, Capital Square has sponsored 31 DST programs, primarily for Section 1031 tax-deferred exchange investors, and grown our portfolio of assets under management to include more than 50 properties. We look forward to continuing this growth by adding high quality properties, like The Canopy, to our portfolio.”
Situated on nearly 9 acres, The Canopy includes 13 two- and three- story residential buildings, a clubhouse, and 272 parking spaces. The property is located at 950 Bitters Road East and was approximately 97 percent leased at the time of acquisition.
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- On August 30, 2016