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Capital Square 1031 Acquires Jacksonville Mixed-Use Multifam for $126M
Capital Square 1031 has acquired a 10-story, mixed-use, Class A multifamily community on Riverside Avenue in Jacksonville, FL for $126.3 million. The community was acquired on behalf of CS1031 Vista Brooklyn Apartments, DST.
“Vista Brooklyn apartments is an excellent acquisition for Capital Square’s 1031/DST program,” said Louis Rogers, Capital Square’s CEO. “Jacksonville is ranked number one in Florida for multifamily rent growth, with 17.4% year-over-year rent growth during the second quarter of 2021. It is hard to imagine a better market for stable income and capital appreciation.”
Vista Brooklyn features 308 units and 12,685 square feet of ground-floor retail space. The 2021-constructed community is situated one mile southwest of downtown Jacksonville on the banks of the St. Johns River and within Jacksonville’s historic and fast-growing Brooklyn/Riverside submarket, according to Yardi Matrix.
CS1031 Vista Brooklyn Apartments, DST seeks to raise $63.7 million in equity from accredited investors and has a minimum investment requirement of $50,000.
- ◦Sale/Acquisition
