June 11, 2021
Capital Square 1031, a sponsor of Delaware statutory trust offerings for 1031 exchange and other accredited investors, has sold Riverwood Corporate Center, a Class A, 112,000-square-foot office building in the Milwaukee suburb of Pewaukee, Wisconsin.
The property was owned by a group of DST investors who originally acquired the property in 2012. Capital Square did not disclose the original purchase price, but indicated that the property was sold for $18.5 million and resulted in a return on equity to investors of more than 159 percent.
“This was Capital Square’s first DST offering, launched in 2012…,” said Louis Rogers, founder and chief executive officer of Capital Square. “Since then, Capital Square has acquired over 125 properties in more than 90 investment offerings.
“It is gratifying to see our first DST property acquired go full-cycle in a profitable sale that satisfies our investment goals…Most investors are continuing their tax deferral under Section 1031 by acquiring a qualifying replacement property from Capital Square,” he added.
Riverwood Corporate Center is a four-story office building constructed as a build-to-suit for ProHealth Care Inc., a regional healthcare provider. The building serves as the company’s corporate headquarters and mission-critical, 24-hour data center.
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- On June 11, 2021