Exciting Developments from Capital Square's Newest Opportunity Zone Funds
Capital Square's Recent Ventures
Capital Square, a prominent name in tax-advantaged real estate investments, has recently reached a significant milestone with its CSRA Opportunity Zone Fund VII, LLC, which has achieved full subscription. This endeavor raised close to $65 million from accredited investors, aimed at developing a multifamily community of 352 units within a qualified opportunity zone. The initiative highlights Capital Square’s commitment to enhancing living spaces and addressing housing demands.
Launch of Fund IX for Future Projects
In a move that signals ongoing commitment to urban revitalization, Capital Square has also launched its CSRA Opportunity Zone Fund IX, LLC. This new fund is designed to support the construction of a mixed-use apartment community, alongside a luxury hotel, both located in a burgeoning area known for its vibrant atmosphere and rich community engagement. Such investments not only contribute to local economies but also introduce high-quality living spaces that reflect the modern lifestyle.
Outstanding Community Design
The forthcoming community in Scott's Addition is set to become a standout feature of the neighborhood, with plans for several six- and seven-story buildings that will offer over 5,350 square feet of retail space. Each unit will average 845 square feet, designed with state-of-the-art finishes such as quartz countertops and luxury vinyl tiles, catering to an upscale clientele. Future residents can look forward to amenities that include a resort-style pool, a fitness center, community lounges, and picturesque rooftop terraces.
Driving Economic Growth
Capital Square’s active role in Scott’s Addition since 2020 is evident, having completed four Class A multifamily communities, which together deliver more than 900 apartment homes. This initiative not only provides housing options but also stands to contribute significantly to local employment, with around 1,500 construction jobs and ongoing operational roles expected to emerge from these developments. Moreover, the projects are projected to generate substantial tax revenues, enhancing the fiscal landscape of the area.
Recognition for Excellence
One of the key developments, Otis, recently earned the 2024 CoStar Impact Award for the best multifamily development of the year, showcasing Capital Square’s dedication to excellence in construction and community impact. This accolade highlights the quality and vision underpinning their projects, reinforcing investor and community confidence.
Investment Opportunities and Future Prospects
With the real estate market witnessing rising occupancy and rental rates, Scott's Addition presents an attractive investment opportunity. Capital Square not only focuses on immediate gains but also aims for long-term value for its stakeholders. By perpetually innovating and adapting to market demands, Capital Square asserts its position as a leader in the multifamily housing sector.
Company Overview
Founded in 2012, Capital Square has made significant investments into real estate assets, serving over 6,500 investors seeking quality solutions that align with tax-deferral strategies under Section 1031 of the Internal Revenue Code. Their diversified portfolio includes substantial projects in multifamily housing, focusing on Excellence in Design and Community integration. This strategic approach has led to over $7.9 billion in transaction volume, enhancing their reputation in the real estate investment sphere. Capital Square Living continues to expand its management services, overseeing over 7,000 units across multiple regions. The company’s recognition by Inc. 5000 as a top growth firm emphasizes its success and expanding influence.
Frequently Asked Questions
What is the primary focus of Capital Square?
Capital Square focuses on tax-advantaged real estate investments, particularly through Opportunity Zone funds and multifamily communities.
What recent milestone did Capital Square achieve?
The company fully subscribed its CSRA Opportunity Zone Fund VII with nearly $65 million raised from investors.
What projects are included in the new Fund IX?
Fund IX aims to develop a mixed-use apartment community and luxury hotel in a vibrant urban neighborhood.
What are some amenities planned for the new community?
Amenities will include a pool, fitness center, lounges, and retail spaces, providing a comprehensive urban living experience.
How has Capital Square contributed to local employment?
Capital Square’s developments are expected to create numerous construction jobs and permanent positions, boosting the local economy.
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