Capital Square Launches OZ Fund to Develop Luxury Charleston Hotel
National real estate firm Capital Square has announced the launch of CSRA Opportunity Zone Fund IV. The project-specific opportunity zone fund is raising capital to develop 529 King Street, a 50-unit, luxury apartment hotel and retail property within a designated opportunity zone in Charleston’s historic King Street corridor.
The fund seeks to raise $7.7 million in equity from investors and has a minimum investment of $100,000. Plans for the development include a five-story structure with 50 apartment hotel units, 4,218 square feet of street-level retail space, a rooftop lounge open to the public and a fitness center, library and co-working space on each floor.
The project will be co-developed with development, management, hospitality and design firm the Method Company. The finished property will operate under Method’s ROOST Apartment Hotel brand.
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.