Glen Allen, VA-based Capital Square has acquired Parkland Apartments, a 396-unit Class A multifamily in the Miami suburb of Parkland, FL. The community was acquired on behalf of CS1031 Parkland Apartments, DST, which seeks to raise $105.7 million in equity from accredited investors and has a minimum investment requirement of $50,000.

Capital Square is a national real estate firm specializing in tax-advantaged real estate investments.

The 95.5% occupied property on 5851 Holmberg Road features spacious one-, two- and three-bedroom units. Community amenities include two resort-style pools, clubhouse, 24-hour fitness center, hammock garden, two outdoor kitchens, walking trails and 4.75-acre lake. Parkland Apartments has direct access to Covered Bridge Park, a 2.9-acre park owned and managed by the City of Parkland that includes wooded nature trails, a meditation area, yoga lawn and butterfly garden.

Since 2018, the property has received $9.4 million in capital improvements, including $6.8 million in interior renovations.