Capital Square 1031 Acquires Newly Constructed, Trophy Multifamily Community in Richmond, Virginia - Wire Real Estate

Capital Square 1031 Acquires Newly Constructed, Trophy Multifamily Community in Richmond, Virginia


Capital Square 1031

iCrowdNewswire   Jan 22, 2021  11:40 AM ET

 Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced today the acquisition of Canopy at Ginter Park, a Class A, 301-unit multifamily community in Richmond, Virginia. The property was acquired for CS1031 Canopy at Ginter Park Apartments, DST, a Reg. D private placement.

“In spite of the global pandemic, 2020 was a record year for acquisitions, dispositions, new hires, and overall profitability,” said Louis Rogers, founder and chief executive officer of Capital Square. “When the pandemic hit and the real estate market softened a bit, Capital Square worked double time to purchase best-in-class real estate for the DST/1031 program.  Canopy at Ginter Park Apartments is another brand new, Class A apartment community in an iconic Richmond, Virginia neighborhood, near the firm’s headquarters.”

Located at 3200 Brook Road, the community is situated on approximately 15 acres of land. Constructed in 2019, Canopy at Ginter Park features 19 buildings with up to three stories each. The community includes one-, two- and three-bedroom units.

CS1031 Canopy at Ginter Park Apartments, DST seeks to raise $39 million in equity from accredited investors and has a minimum investment of $50,000.

“Canopy at Ginter Park is well-located near Interstate 64 and Interstate 95, offering residents convenient access to numerous employers in Richmond, including seven Fortune 500 companies,” said Whitson Huffman, chief strategy and investment officer. “This best-in-class community is a premier example of the properties that Capital Square is bullish on when sourcing investment properties for our Section 1031 and cash investors. Properties like Canopy at Ginter Park allow us to provide our investors the opportunity to invest in a high-quality community that they may not be able to acquire on their own.”

Amenities at Canopy at Ginter Park include: a saltwater, resort-style swimming pool; a clubroom with multiple TVs and a sitting area; a clubhouse with an entertainment kitchen; an outdoor pool table and access-controlled buildings. Additional amenities include bike storage; lush courtyards; a pet spa; 24/7 contactless package pickup and a 24-hour, state-of-the-art fitness center.

Since the company was founded, Capital Square has acquired 121 real estate assets for over 2,700 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 $2.6 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. Diversification does not guarantee profits or protect against losses.

Contact: 
Lauren Burgos
Spotlight Marketing Communications
949.427.1399
lauren@spotlightmarcom.com    

Contact Information:

Lauren Burgos
Spotlight Marketing Communications
949.427.1399
lauren@spotlightmarcom.com    


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