Capital Square DST Offering Hits Target
The trust is invested in a community located in the suburbs of Augusta, Ga.
Lakeside on Riverwatch. Image courtesy of Berkadia
Capital Square’s Delaware Statutory Trust offering, CS1031 Lakeside on Riverwatch Apartments, is fully subscribed, the company said in a statement. The Regulation D private placement raised almost $26.8 million. The trust owns a 200-unit garden style apartment property in Martinez, Ga., a suburb of Augusta.
Located at 4300 River Watch Parkway, the three-story Lakeside on Riverwatch property, built in 2000, sits on 19.3 acres. The community features one-, two- and three-bedroom apartments averaging 1,109 square feet. Units include breakfast bars, resurfaced countertops and updated lighting fixtures, while common area amenities include a swimming pool with a sundeck.
Lakeside on Riverwatch is situated within Augusta’s Savannah River basin. The region features low unemployment and a robust level of rent growth, plus a sizable population of affluent young professionals, all factors influencing housing demand.
Augusta is located along Interstate 20, between Atlanta and Columbia, S.C., and is near I-95 and I-77. Grocery, retail, entertainment and recreation options are located within several miles, with the Savannah River located five miles away.
Augusta Technical College, Medical College of Georgia and Paine College are located within a 17-minute drive. Last month, Capital Square restructured investments in Saltmeadow Bay Apartments, located in Virginia Beach, Va.
