TAMPA,
Fla., July 17, 2024 /PRNewswire/ -- 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 today 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.
Contact:
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Jill
Swartz
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Spotlight Marketing
Communications
|
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949-427-1389
|
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jill@spotlightmarcom.com
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SOURCE Capital Square