Exciting New Offering by Capital Square
Capital Square, a prominent figure in tax-advantaged real estate investments, has unveiled a new offering designed for active adult living. The CS1031 Richmond Active Adult Living Apartments represents an innovative approach to senior living, with its focus on community connection and modern conveniences. This offering involves a $33.3 million Delaware statutory trust, which will give accredited investors the opportunity to own stakes in a beautifully designed 165-unit, Class A multifamily community aimed at the active adult demographic.
Understanding Active Adult Living
Active adult living facilities, such as the Everleigh Short Pump, reflect the changing landscape of housing demands driven by the aging population. Louis Rogers, co-founder and CEO of Capital Square, emphasizes that these communities successfully blend the need for robust lifestyle options with financial opportunity. As more individuals look for appropriate replacement properties, age-restricted communities are increasingly appealing due to their income potential and long-term growth prospects.
Community Features and Amenities
The Everleigh Short Pump community is a standout project within this offering, boasting an impressive 95.7% occupancy rate. This community provides spacious one, two, and three-bedroom units, each averaging 1,001 square feet. Each apartment features nine-foot ceilings with contemporary finishes that aim to enhance the living experience. Additional community amenities include a heated swimming pool, a yoga studio, and a sun deck for relaxation, alongside a great room for social gatherings. An activities director is also on staff to coordinate engaging programs for residents, fostering a vibrant community spirit through fitness classes and social events.
Economic Growth in Richmond
Richmond's economic landscape is further enriched by significant investments from major corporations. Notably, Eli Lilly is in the process of constructing a $5 billion manufacturing facility that promises to create 650 permanent and 1,800 construction jobs, enhancing the local job market. Meanwhile, the LEGO Group is establishing a new regional distribution center, representing an investment exceeding $360 million. These developments highlight the area's growing appeal for businesses and residents alike.
The Charm of Richmond
The city of Richmond enjoys a rich historical backdrop while modernizing its urban core. Residents relish outdoor activities along the scenic James River and indulge in the city's diverse culinary scene. The Short Pump suburb enhances living experiences with access to 5.5 million square feet of retail and entertainment options. Everleigh Short Pump is strategically located near essential conveniences, such as a grocery store and major transportation routes, making it an attractive option for prospective residents.
Market Stability and Growth
Richmond has shown remarkable resilience as a demographic market within the Southeast. According to various economic reports, both statewide and regional unemployment rates are consistently below national averages, showcasing the area's economic stability. With a notable population growth of approximately 11% over the past decade, Richmond is poised for continued housing demand, particularly among older residents with increased wealth and lifestyle expectations.
Capital Square's Expanding Legacy
Since its establishment in 2012, Capital Square has successfully acquired over 175 real estate properties, catering to more than 6,500 investors in pursuit of sound investment opportunities. Their expertise is particularly focused on helping investors navigate the complexities of real estate while taking full advantage of tax-deferral strategies under Section 1031 of the Internal Revenue Code. As part of their extensive portfolio, Capital Square Living operates over 13,000 apartments, reinforcing their commitment to providing high-quality living environments.
About Capital Square
Capital Square stands as a vertically integrated national real estate firm excelling in tax-efficient property investments, including Delaware statutory trusts and opportunity zone funds. The company has recorded impressive growth, completing transactions exceeding $7.9 billion while being recognized on the Inc. 5000 list for nine successive years as a fast-growing enterprise. Capital Square's multifaceted approach ensures they meet the needs of high-net-worth investors alongside institutional partners seeking sustainable returns.
Frequently Asked Questions
What is the CS1031 Richmond Active Adult Living Apartments offering?
This offering by Capital Square allows accredited investors to participate in a $33.3 million Delaware statutory trust for a 165-unit age-restricted community.
What amenities does Everleigh Short Pump provide?
Residents enjoy amenities such as a heated swimming pool, yoga studio, social gathering spaces, and scheduled activities designed to enhance community engagement.
What economic developments are occurring in Richmond?
Richmond is seeing substantial investments from companies like Eli Lilly and the LEGO Group, contributing to job creation and boosting the local economy.
Why is Richmond considered an attractive market?
Richmond combines historic charm with modern conveniences and a strong job market, leading to steady population growth and housing demand.
How long has Capital Square been operating?
Capital Square has been in operation since 2012, successfully managing a substantial portfolio of real estate investments for diverse investors.
