Capital Square 1031 has acquired a Class A, 339-unit multifamily community in Glen Allen, VA, a suburb of Richmond. The community was acquired on behalf of CS1031 Flats at West Broad Village Apartments, DST, a Reg. D private placement investment offering.

CS1031 Flats at West Broad Village Apartments, DST, a Delaware statutory trust investment offering, seeks to raise $73 million in equity from accredited investors and has a minimum investment requirement of $50,000.

Flats at West Broad Village is situated along Wild Goose Lane on nearly five acres of land and is within walking distance of approximately 380,000 square feet of retail space.

“The Greater Richmond area is a strong performer, with exceptional employment growth, reasonable cost of living and the highest multifamily rent growth in the nation, according to Yardi Matrix,” said Whitson Huffman, chief strategy and investment officer of Capital Square.