Capital Square
Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced that its offering, CS1031 Holiday MHC, DST, has been fully subscribed. The Regulation D private placement, which raised equity from accredited investors, consists of a 214-unit, 55+ lifestyle manufactured housing community in the Tampa suburb of Lakeland, Florida.
“Manufactured housing communities (MHCs), such as Holiday Park, fill a vital niche for seniors who want the home ownership experience with modern amenities but at a more affordable price,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Many of Capital Square’s DST investors are drawn to MHC investments for strong returns and capital appreciation.”
Located at 4141 New Tampa Hwy, Holiday Park is a 21.08-acre, four-star 55+ lifestyle manufactured housing community with a billiards room, horseshoe court, heated swimming pool and shuffleboard court. Capital Square intends to make $3 million of strategic improvements, significantly enhancing the quality of the property to increase occupancy, rents and residual value. Average market rent is approximately 57% higher than the average in-place rent at Holiday Park, providing a significant opportunity for rent growth.
The property’s location in central Lakeland offers residents an easy commute to nearby museums, shopping malls, and various theme parks such as Walt Disney World, Bok Tower Gardens and Busch Gardens. Lakeland offers residents easy access via Interstate-4 to Tampa and Orlando, two of Florida’s largest metropolitan areas, making it a hub for local and regional employment, logistics, distribution and entertainment activities.
“Holiday Park is an amenity-rich and well-occupied manufactured housing community that enjoys an enviable location in a fast-growing part of Central Florida, where demand for quality housing among the state’s retirees is very high,” said Whitson Huffman, co-chief executive officer. “The positive long-term outlook for population growth, rent growth and occupancy rates in the region will likely result in a continued supply/demand imbalance for housing options like those provided by Holiday Park, which we believe will result in a positive outcome for our DST investors.”
Capital Square is an active owner of multifamily communities nationally. Locally, Capital Square acquired Parkland Apartments, a 396-unit Class A multifamily community in the affluent Miami suburb of Parkland, Florida. The community was acquired on behalf of CS1031 Parkland Apartments, DST.
Since its founding in 2012, Capital Square has acquired more than 170 real estate assets for over 6,500 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 vertically integrated national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern U.S., with nine current projects totaling approximately 2,000 apartment units with a total development cost in excess of $740 million. Since 2012, Capital Square has completed more than $7.8 billion in transaction volume. 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 seven 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. In 2023, Capital Square was recognized by the Richmond Times-Dispatch as one of the region’s “Top Work Places.” To learn more, visit www.CapitalSq.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 multifamily 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.
