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Capital Square 1031 has acquired the10-story, mixed-use, Class A Vista Brooklyn multifamily community on Riverside Avenue in Jacksonville, FL for $126.3 million

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.

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Inside The Story

Capital Square 1031’s Rogers

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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