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Capital Square Averages 136% Return with Virginia DST Sale
Capital Square, a sponsor of tax-advantaged real estate investments and an active developer and manager of housing communities, announced today the sale of Bellemeade Farms Apartments, a 316-unit multifamily property located in Leesburg, Virginia.
The property was owned by a group of investors in a Capital Square-sponsored Delaware statutory trust (DST) who realized a 136.42% total return, or a 6.47% annualized return, from their 1031 exchange investment.
Located at 775 Gateway Drive SE, Bellemeade Farms is comprised of 12 residential buildings and a clubhouse with a leasing office. The community includes efficiently designed one- and two-bedroom floorplans ranging in size from 583 square feet to 954 square feet.
“After five years of sponsoring and managing this investment offering, we are pleased to continue our successful track record and once again deliver a compelling result to investors by taking this DST full-cycle,” said Whitson Huffman, co-chief executive officer.
