Capital Square 1031 Acquires Newly Built Multi-Family Community Near Kansas City for DST Supply | State
KANSAS CITY, Mo., January 20, 2022 /PRNewswire/ — Capital Square 1031, one of the main sponsors of Delaware Statutory Trust (DST) Offerings for Section 1031 Exchange and other Accredited Investors, today announced the acquisition of a 237-unit Class A multi-family community at Olathe, a city in the Kansas City Metropolitan area. The community was acquired in the name of CS1031 Villas at Ridgeview Falls Apartments, DST.
“Villas at Ridgeview Falls is next in the line of highly appointed, newly built Class A apartment communities Capital Square has acquired for the 1031/DST program,” said Louis Roger founder and CEO of Capital Square. “Capital Square was attracted to the location of this property – Olathe, the seat of Johnson County, 20 miles southwest of Kansas City, where the economy is strong, with job growth of 4.4% and an unemployment rate of 3.5% September 2021.1 The property should provide investors with stable income during the holding period and exceptional appreciation potential.”
Located at 11835 S. Fellows St., the community is located in the southwest corner of the Kansas City, Missouri-KS Metropolitan Statistical Area. The property’s location near major highways and highways provides residents with convenient access to Kansas City job centers. Additionally, Villas at Ridgeview Falls is located within walking distance of many convenience and grocery stores, as well as restaurants.
Completed in 2020, the community offers spacious one- and two-bedroom units with high-end finishes and an average area of 1,046 square feet.
Community amenities include a resort-style saltwater pool, in-pool tanning deck, poolside TV and lounge, poolside pergola, lounge area with fireplace, a rooftop retreat, golf course, yoga area, walking path with outdoor fitness equipment, and 24-hour Fitness Center with yoga studio. Additional amenities include an indoor mail room, media room, gourmet cafe and tea bar, internet cafe, social lounge, guest suite, garages and carports plus a pet spa of company.
CS1031 Villas at Ridgeview Falls Apartments, DST looking to increase $35.2 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Proximity to grocery stores and restaurants, as well as Kansas City employment centers, coupled with its upscale features, make this community an ideal investment property for our growing portfolio of multi-family properties,” said Whitson Huffman, Chief Strategy and Investment Officer. “The submarket has ideal fundamentals that align exceptionally well with Capital Square’s multi-family acquisition criteria. For example, the population within a five-mile radius of the property is expected to increase by 4.4% in five years and the average annual rental growth in the submarket is expected to increase by 3.78% from 2021 to 2026.”2
Capital Square acquired ownership from JA Murphy Group, which was represented by Colliers’ Will Mathews.
“It is an honor to represent our friends and clients from the JA Murphy Group at a historic sale in a fast growing industry. Olathe, Kansas“Congratulations and a big thank you to the buyer, Capital Square, for their continued success and dedication to a smooth year-end closing!”
Since its inception in 2012, Capital Square has acquired 146 real estate assets for more than 3,800 investors seeking quality replacement properties eligible 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 company specializing in tax-efficient real estate investments, including Delaware statutory trusts for Section 1031 exchanges and opportunity zone funds qualifying for tax deferral and exclusion. Since 2012, Capital Square has achieved over $4.2 billion in transaction volume. Capital Square’s management team has decades of experience in real estate investing. Its founder, Louis Roger, has structured hundreds of investment deals totaling more than $5 billion. Capital Square 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, capital companies -investment, family offices and institutional investors. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the country for five consecutive years. Additionally, in 2021, the company was ranked 101st on Inc.’s list of fastest growing private companies. 5000 Washington D.C. Metro. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense’s list of fastest growing companies. Capital Square was listed by Virginia Business in its “Best Workplaces in Virginiain 2019 and 2021 as well as their “Fantastic 50” reports in 2019 and 2020. To learn more, visit www.CapitalSquare1031.com.
Sources: 1. Bureau of Labor Statistics, https://www.bls.gov/eag/eag.mo_kansascity_msa.htm. 2. Yardi matrix.
Disclaimer: Securities offered by WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are significant risks associated with investing in DST properties and real estate securities, including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, risk interest rate fluctuations, the risk of new offerings coming to market and rental rates decreasing, general risks of owning/operating commercial and multi-family properties, short-term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long holding periods and the potential loss of all investment capital. Past performance is not indicative of future results. Potential cash flows, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax advisor 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 particular attention to the risk section before investing. Private placements are speculative. Diversification does not guarantee profits or protect against losses.
Contact:
Julie Leber
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SOURCE Capital Square