Capital Square 1031 Acquires 4.5-Star, 55+ Manufactured Housing Community in Lakeland, Florida
November 29, 2021 | Capital Square 1031
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 a 4.5-star, 55+ manufactured housing community in Lakeland, Florida. The community was acquired on behalf of CS1031 Twin Palms MHC, DST.
“This is Capital Square’s tenth acquisition of age-restricted manufactured housing communities in Florida,” said Louis Rogers, founder and chief executive officer of Capital Square. “These are among the most desirable assets in the nation due to their scarcity, stability and low operating costs. Capital Square believes that age-restricted manufactured housing communities in Florida will out-perform competitive investment properties for Capital Square’s investors.”
Situated at 301 N. Galloway Road, the community consists of 222 homesites and is situated on 32.88 acres of land. The community is well-located near Interstate 4 and U.S. Highway 92, offering residents convenient access to Tampa and Orlando.
Twin Palms is highly amenitized, including a heated pool, horseshoe and shuffleboard courts and a clubhouse which features billiards, ping-pong, darts and more.
Capital Square intends to make strategic improvements to the community, including a clubhouse renovation; improvements to roads, driveways, and sidewalks; upgrades to landscaping throughout the community as well as the pool deck and furniture. Additional planned improvements include upgrades to amenities, such as, a covered outdoor pavilion, community lighting upgrades and utility infrastructure improvements.
CS1031 Twin Palms MHC, DST seeks to raise $36 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Twin Palms is a well-occupied property with an average lot rent that is substantially below the market average, which offers Capital Square a value-add opportunity to increase rents,” said Whitson Huffman, chief strategy and investment officer. “As part of our value-add strategy for manufactured housing community acquisitions, Capital Square plans to make approximately $2 million of strategic improvements to the property, which we believe will significantly enhance the quality of the community.”
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 five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro’s Fastest-Growing Private Companies. 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 on their “Best Places to Work in Virginia” report in 2019 and 2021 as well as on 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.
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