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Capital Square 1031 Acquires Newly Constructed Multifamily Community in Greater Chattanooga, Tennessee

July 20, 2021

Capital Square 1031 Acquires Newly Constructed Multifamily Community in Greater Chattanooga, Tennessee

The acquisition is for a DST investment offering that seeks to raise $27.9 million in equity from accredited investors

July 20, 2021 | Capital Square

CHATTANOOGA, Tenn. (July 20, 2021) Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for 1031 exchange and other accredited investors, announced today the acquisition of Lullwater at Big Ridge, a 250-unit multifamily community in the Hixson submarket of Chattanooga, Tennessee. The property was acquired for CS1031 Lullwater at Big Ridge Apartments, DST, a Reg. D private placement.

“Chattanooga was recently ranked number one for employment outlook by Forbes magazine, in part due to its exceptional location just 130 miles from Atlanta and Nashville,” said Louis Rogers, founder and chief executive officer. “The city is well-known for healthcare, manufacturing, education, technology and tourism and was named ‘Gig City’ for its 10-gigabit-per-second fiber internet services. These attributes position Chattanooga as the next booming city, similar to Nashville or Austin.”

Located at 6038 Hixson Pike, the gated community was constructed in 2020 and is the newest apartment community in the Hixson submarket. Lullwater at Big Ridge is comprised of one-, two- and three-bedroom units ranging in size from approximately 1,028 square feet to 1,432 square feet. The community features floorplans that have large open kitchens with wraparound granite countertops, faux wood vinyl flooring and stainless-steel appliances.

Community amenities include a dog park, resort-style pool with outdoor kitchen and firepit, clubhouse with lounge, media room, conference room, business center and fitness center. Additional amenities include a secure package delivery locker room, a car care center and 30 detached garages as well as 21 storage units available to rent.

CS1031 Lullwater at Big Ridge Apartments, DST seeks to raise $27.9 million in equity from accredited investors and has a minimum investment of $50,000.

“Lullwater at Big Ridge is a particularly attractive asset, not only because it is the newest multifamily community in the submarket, but also because it features large apartment units and unique interior finishes,” said Whitson Huffman, chief strategy and investment officer. “The community is well-located off of Hixson Pike, providing residents convenient access to nearby employment hubs as well as a Publix-anchored shopping center just one street away.”

Since its founding in 2012, Capital Square has acquired 131 real estate assets for over 3,000 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 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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