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.”