Capital Square Collects Its 10th 55+ Manufactured Housing Community in FL
Glen Allen, VA-based Capital Square 1031 has acquired a 55+ manufactured housing community in Sebastian, FL. The community was acquired on behalf of CS1031 Palm Lake Club MHC, DST.
“This is Capital Square’s 10th acquisition of an age-restricted (55+) manufactured housing community in FL for the 1031/DST program,” said Louis Rogers, founder and chief executive officer of Capital Square. “MHC properties in FL are among the most desirable assets in the nation due to their scarcity, stability and growth potential. Also, MHC assets solve a need for residents as an affordable housing option, providing most benefits of a single-family home with the low cost of multifamily housing.”
Palm Lake Club is a 98%-occupied community with 126 homesites. The property’s proximity connects it to Vero Beach with access to Port St. Lucie, West Palm Beach and Boca Raton.
CS1031 Palm Lake Club MHC, DST seeks to raise $24.3 million in equity from accredited investors.
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.