Capital Square 1031 Acquires Age-Restricted Manufactured Housing Community in Popular Retirement Destination on Florida’s Gulf Coast
October 7, 2021 | Capital Square 1031
The acquisition is on behalf of a Delaware statutory trust investment offering that seeks to raise $56.7 million in equity from accredited investors
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 an age-restricted manufactured housing community on Florida’s Gulf Coast. The community consists of 420 homesites and was acquired on behalf of CS1031 Coach House MHC, DST.
“This is Capital Square’s eigth acquisition of an age-restricted, manufactured housing community in Florida for the DST/1031 exchange program,” said Louis Rogers, founder and chief executive officer of Capital Square. “These are some of the most desirable real estate investments in the nation due to their scarcity, stability and profitability.”
Located at 4907 28th Avenue East, The Coach House is situated on approximately 80 acres of land. The community is located in the popular retirement destination of Palmetto, near Interstates 275 and 75, allowing convenient access to local and regional points of interest.
The 55+ age-restricted community features a clubhouse, heated pool, shuffleboard courts, a laundry room, fitness center, three community lakes and storage lots available for residents.
Capital Square intends to make strategic capital improvements to the community, including an extensive clubhouse renovation, exterior amenity enhancements and additions, community-wide enhancements, improvements to roads, driveways and curbs as well as upgrades to utility systems. By significantly enhancing the property, Capital Square intends to increase occupancy, rents, and value of the property.
CS1031 Coach House MHC, DST seeks to raise $56.7 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“The Coach House presents the potential for value-add opportunity,” said Whitson Huffman, chief strategy and investment officer. “The community has been owned by a private seller who has not capitalized on the significant opportunity to increase occupancy and rents. Capital Square intends to upgrade the property through strategic capital investments and to maximize value by employing an institutional management approach.”
Since its founding in 2012, Capital Square has acquired 137 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.
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