Capital Square Acquires Multifamily Community near Augusta for DST Offerings

The acquisition is on behalf of a Delaware statutory belief funding providing that seeks to lift $26.8 million in fairness from accredited buyers

AUGUSTA, Ga., Sept. 21, 2022 /PRNewswire/ — Capital Sq., one of many nation’s main sponsors of tax-advantaged actual property investments and an energetic developer of multifamily communities, introduced in the present day the acquisition of Lakeside on Riverwatch Flats, a 200-unit garden-style multifamily group within the Augusta suburb of Martinez, Georgia. The group was acquired on behalf of CS1031 Lakeside on Riverwatch Flats, DST, which seeks to lift $26.8 million in fairness from accredited buyers and has a minimal funding requirement of $50,000. 

“Lakeside on Riverwatch is situated in an distinctive space, close to the city ranked as the very best place to dwell within the U.S.¹ and the fourth quickest rising county in Georgia between 2010 to 2020,” stated Louis Rogers, founder and co-chief government officer of Capital Sq.. “That is Capital Sq.’s sixty-second acquisition of a multifamily group for the DST/1031 program. Capital Sq. is bullish on multifamily investments like Lakeside on Riverwatch as a result of they’ve the potential to offer each secure money circulate and appreciation for buyers.”

Positioned at 4300 River Watch Parkway, the 19.28-acre property presents one-, two- and three-bedroom models averaging 1,109 sq. ft. The vendor not too long ago accomplished renovations on 95% of the house properties, which included the addition of recent black or stainless-steel kitchen home equipment, resurfaced counter tops, fake wooden vinyl flooring, kitchen backsplashes and up to date lighting. Group facilities embrace a not too long ago renovated clubhouse and health heart, a swimming pool with a sundeck, grilling space, package deal supply room, and a canine park that includes an agility course and washing station. The property is ideally situated on Interstate 20 between Atlanta and Columbia, with easy accessibility to Interstates 95 and 77.²

A number of stores, together with Publix, Kroger, Goal and Walmart, are situated inside two miles of the property alongside Washington Street, a serious native thoroughfare. Evans Towne Heart Park, which encompasses a splash pad, paved monitor, and playground, as nicely the Columbia County Performing Arts Heart, are additionally inside two miles of Lakeside at Riverwatch Flats. Riverside Park, the place residents can entry the Savannah River and revel in boating, fishing and different water-related actions, is simply 5 miles from the property.

Augusta is dwelling to a number of massive financial sectors, together with superior manufacturing, aerospace, chemical manufacturing, meals manufacturing, customer support, cybersecurity, information facilities and logistic facilities.³ Town options 12 hospitals, two biotechnology enterprise incubators, a number of life sciences firms, and the College System of Georgia’s premier medical college with an aligned medical remedy and instructing facility. The medical {industry} is estimated to contribute roughly $10 billion yearly to Augusta’s financial system, which has the best focus of healthcare companies within the Southeast and is well known as a “healthcare vacation spot.”⁴ Prime employers within the space embrace EZGO Textron, Richmond County College System, Graphic Packaging, Ferrara USA, Fort Gordon/Cyber Heart of Excellence, and the U.S. Nationwide Safety Company – Augusta.³

“Lakeside on Riverwatch is an distinctive multifamily group that has been not too long ago renovated and is situated amidst a scenic a part of the Savannah River basin,” stated Whitson Huffman, co-chief government officer. “The Better Augusta financial system continues to thrive, offering an abundance of high quality job alternatives for its residents.”

Fort Gordon, a 56,000-acre United States Military set up, is the realm’s largest employer with 32,000 civilian and enlisted staff. The positioning has been present process modernization for the reason that U.S. Cyber Command headquarters was transferred there in 2020.⁵ In 2022, the area’s largest single development mission, the $934 million Cyber Heart of Excellence, started with the demolition of older buildings on the set up that will likely be changed with a brand new campus.⁶

Paul Vetter of Berkadia represented the vendor on this transaction.

Since its founding in 2012, Capital Sq. has acquired 152 actual property property for over 6,000 buyers in search of high quality alternative properties that qualify for tax deferral below Part 1031 of the Inner Income Code and different buyers in search of secure money circulate and capital appreciation.

Sources:
1. Cash Journal, 2020.
2. https://augustaeda.org/life-in-augusta/infrastructure/, 2022.
3. https://augustaeda.org/business-industry/largest-employers/
4. https://www.augustametrochamber.com/science-and-discovery## 2022.
5. https://www.wfxg.com/story/41872861/fort-gordon-prepares-for-growth-coronavirus   
6. https://www.military.mil/article/257348/signal_corps_has_bright_future_is_key_in_network_transformation

About Capital Sq.
Capital Sq. is a nationwide actual property agency specializing in tax-advantaged actual property investments, together with Delaware statutory trusts for Part 1031 exchanges, certified alternative zone funds for tax deferral and exclusion and an actual property funding belief (REIT). In recent times the corporate has develop into an energetic developer of mixed-use multifamily properties within the southeastern US, with eight present tasks totaling roughly 2,000 house models with a complete improvement price in extra of $600 million. Since 2012, Capital Sq. has accomplished greater than $6.0 billion in transaction quantity. Capital Sq.’s associated entities present a variety of companies, together with due diligence, acquisition, mortgage sourcing, property/asset administration, and disposition, for a rising variety of high-net-worth buyers, personal fairness corporations, household workplaces and institutional buyers. Since 2017, Capital Sq. has been acknowledged by Inc. 5000 as one of many quickest rising firms within the nation for 4 consecutive years. In 2017, 2018 and 2020, the corporate was additionally ranked on Richmond BizSense’s checklist of quickest rising firms. Moreover, Capital Sq. was listed by Virginia Enterprise on their “Finest Locations to Work in Virginia” report in 2019 and their “Improbable 50” studies in 2019 and 2020. To study extra, go to www.CapitalSq.com.

Disclaimer: Securities supplied via WealthForge Securities, LLC, Member FINRA/SIPC. Capital Sq. and WealthForge Securities, LLC are separate entities. There are materials dangers related to investing in DST properties and actual property securities together with illiquidity, tenant vacancies, common market situations and competitors, lack of working historical past, rate of interest dangers, the chance of recent provide coming to market and softening rental charges, common dangers of proudly owning/working industrial and multifamily properties, brief time period leases related to multi-family properties, financing dangers, potential opposed tax penalties, common financial dangers, improvement dangers, lengthy maintain durations, and potential lack of your complete funding principal. Previous efficiency is just not a assure of future outcomes. Potential money circulate, returns and appreciation aren’t assured. IRC Part 1031 is a posh tax idea; seek the advice of your authorized or tax skilled concerning the specifics of your specific state of affairs. This isn’t a solicitation or a proposal to see any securities. Please learn the Personal Placement Memorandum (PPM) in its entirety, paying cautious consideration to the chance part previous to investing. Diversification doesn’t assure earnings or defend in opposition to losses. Personal placements are speculative.

SOURCE Capital Sq.