The acquisition is for a DST investment offering that seeks to raise $27 million in equity from accredited investors
NASHVILLE (June 15, 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 Integra Vistas, a Class A, 280-unit multifamily community in the Hixson submarket of Chattanooga, Tennessee. The property was acquired for CS1031 Integra Vistas Apartments, DST, a Reg. D private placement.
“Located in Chattanooga, Tennessee, Integra Vistas is a 2018 vintage, Class A multifamily asset with strong resident demographics,” said Louis Rogers, founder and chief executive officer. “The affluent Hixson submarket of Chattanooga, where the property is located, has an average projected occupancy rate of 98.3% and projected rent growth of 4.9% for the next five years, according to Yardi Matrix.”
Located at 151 Integra Vistas Drive, the community was constructed in 2018 on approximately 20 acres of land. Integra Vistas is comprised of one-, two- and three-bedroom units ranging in size from approximately 766 square feet to 1,278 square feet.
Community amenities include a resort-style swimming pool with an expansive sundeck; an outdoor pavilion with a kitchen, flat screen TV and fireplace; as well as a resident clubhouse with an entertainment, game and poker room. Additional amenities include a state-of-the-art fitness center featuring free weight and circuit stations, CrossFit training, cardio, yoga and fitness on demand; a pet park with agility equipment; resident package receiving lockers; attached and detached garages and walking trails with scenic mountain views.
CS1031 Integra Vistas Apartments, DST seeks to raise $27 million in equity from accredited investors and has a minimum investment of $50,000.
“The community’s location offers residents convenient access to Chattanooga’s two main employment centers; Enterprise Industrial Park, home to Amazon and Volkswagen plants and Downtown Chattanooga, home to BlueCross BlueShield Headquarters and more than 60,000 jobs,” said Whitson Huffman, chief strategy and investment officer. “The property’s strategic location near major local employment hubs coupled with its high-end finishes and best-in-class amenities positions it as an ideal asset for our growing portfolio of investment properties.”
Since the company was founded, Capital Square has acquired 130 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.
- On June 15, 2021