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Capital Square Acquires Multifamily in Knoxville for $53M DST Offering
Glen Allen, VA-based Capital Square has acquired Village at Westland Cove, a Class A, 240-unit multifamily community in Knoxville, TN. The acquisition is on behalf of a Delaware statutory trust investment offering that seeks to raise $52.8 million in equity from accredited investors and has a minimum investment requirement of $50,000.
Taylor Bird, Nelson Abels, Robert Stickel and Alex Brown of Cushman & Wakefield represented the seller.
The 2019-constructed, Village at Westland Cove is located at 9635 Westland Cove Way along Interstate 140. The 28.2-acre multifamily community sits on the shore of Fort Loudoun Lake close to The Pinnacle at Turkey Creek, a 650,000-square-foot shopping center, and the Turkey Creek Medical Center.
“The Knoxville economy is thriving, with low unemployment, high average household income and growing demand for high-end apartment living such as that provided to the residents of Village at Westland Cove, said Whitson Huffman, Capital Square chief strategy and investment officer.
- ◦Sale/Acquisition
