Capital Square Acquires 307-Unit MF Community in Richmond
Capital Square 1031 has acquired Livingston Apartment Flats, a Class A, 307-unit multifamily community in the Chesterfield County submarket of Richmond. The sales price was not disclosed. The property was acquired on behalf of CS1031 Livingston Apartment Flats, DST, a Reg. D private placement investment offering.
Located at 15560 Cosby Village Ave., the community was constructed in 2020 and is situated on nine acres of land. Part of Cosby Village, a 68-acre, mixed-use development, the community provides residents with convenient access to retail and dining options. Livingston Apartment Flats features one-, two- and three-bedroom units.
“We are experiencing a migration from gateway cities to Richmond and other secondary markets in the Southeast, which is driving demand and occupancy of Class A apartments,” said Louis Rogers, founder and CEO at Capital Square. “We believe this trend will continue to drive the future value of highly amenitized, well-located properties, such as Livingston Apartment Flats, and is a model for future Capital Square properties.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.