Capital Square 1031 Acquires Newly Constructed, Class A Multifamily Community Near Florida's Scenic Highway 30A

PENSACOLA, Fla., Nov. 4, 2021 /PRNewswire/ -- 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 The Residences at 393 North Apartments, a newly constructed, Class A, multifamily community in Santa Rosa Beach, near Pensacola, Florida. The 128-unit multifamily community was acquired on behalf of CS1031 Residences at 393 North Apartments, DST.

"The Residences at 393 North is a newly constructed, highly amenitized Class A multifamily community featuring spacious floor plans with walk-in closets, top of the line finishes, stainless steel appliances, in-unit washers and dryers, private storage units, double vanities as well as private screened patios and balconies," said Louis Rogers, founder and chief executive officer of Capital Square. "The community also features high-end amenities such as a 24-hour state-of-the-art fitness center, a resort-style pool and spa, a resident lounge with an entertainment kitchen, and a dog park.  The community is located in Santa Rosa Beach, close to Florida's scenic highway 30A, with convenient access to Destin, Panama City, and numerous beaches and parks."

Located at 77 Exuma Way, the community was completed in 2021 and is situated on 10.89 acres of land. The Residences at 393 North features one-, two- and three-bedroom floorplans with an average unit size of 1,096 square feet.

As of October 2021, the property has a waiting list of 68 prospective tenants.

CS1031 Residences at 393 North Apartments, DST seeks to raise $23.3 million in equity from accredited investors and has a minimum investment requirement of $50,000.

"Surrounded by luxury beach houses, upscale dining and retail options, as well as white sand beaches and turquoise waters, Residences at 393 North is ideally located in the picturesque area of Florida's Emerald Coast," said Whitson Huffman, chief strategy and investment officer. "Several homes in the surrounding area are priced between $1 million and $8 million, proving the area's affluence. With its high occupancy of almost 98% and ideal location, the community fits perfectly within our investment criteria for Class A multifamily properties."

"Residences at 393 North has instantly become one of the highest quality multifamily assets along Florida's Emerald Coast and will continue to be highly sought by the most discerning lifestyle renters in the market for many years to come," said Colliers International Director/Partner Mike Steiner. Steiner represented both the buyer and seller in the transaction.

Since its founding in 2012, Capital Square has acquired 142 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.

Contact:
Lauren Burgos
Spotlight Marketing Communications
949.427.1399
[email protected] 

SOURCE Capital Square 1031

Related Links

http://www.CapitalSquare1031.com

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