Capital Square Realty Advisors of Innsbrook, Florida, has paid $31 million for the 348-unit Bridgeview Apartments in Tampa. This is the company’s largest purchase since it was founded in 2012 and its second multimillion-dollar purchase in three months in Florida. The firm’s executives are impressed with the fundamentals and signs of recovery in Tampa.
Capital Square Realty Advisors LLC
Capital Square Realty Advisors LLC recently purchased the full subscription of Bridgeview Apartments in Tampa, Florida. The 348-unit complex includes 17 residential buildings with a clubhouse and business center. The community also has tennis and racquetball courts. The sale price was $31 million, which equates to $89,000 per unit.
The company has made several acquisitions since its founding in 2012. In December, the company purchased a 112,000-square-foot office building in Milwaukee, Wis., for $21.5 million. It has plans to buy more properties shortly. In the meantime, it’s currently investing in other multifamily properties in Florida.
Capital Square specializes in commercial real estate investment programs using a Delaware Statutory Trust structure. The firm has created more than $3 billion in investment offerings. Its recent hirings include industry veterans William “Hugh” Black and Don Ferrari. The company distributes its offerings through a network of about 20 broker-dealers.
CSRA Bridgeview Apartments DST
Capital Square Realty Advisors (CSRA) recently completed a DST offering of the Bridgeview Apartments in Tampa, Florida. The development consists of three hundred and forty-eight units across seventeen residential buildings, each two to three stories in height. CSRA has a history of generating investment offerings through Delaware Statutory Trust structures and has managed and created more than $3 billion in investment offerings. In recent months, the company has added a third director, Don Ferrari, and distributes through a selling group of twenty broker-dealers.
CSRA Bridgeview Apartments DST was formed on May 24, 2013. The company is a Delaware statutory trust company, and its registered number is D13000000012. CSRA Bridgeview Apartments DST has one Principal. The company has three properties: CSRA Bridgeview Apartments, DST, and Capital Square Realty Advisors.
Capital Square 1031
Capital Square 1031 is a leading real estate investment company specializing in 1031 exchanges. In 2013, it purchased the Bridgeview Apartments in Tampa for $31 million. Investors in the real estate venture realized a 15 percent annualized total return on equity. The company is looking to expand its portfolio by purchasing additional properties.
Capital Square has completed four acquisitions in the last seven months and has a pipeline of properties to buy. The company’s four most recent deals totaled $55 million. Capital Square is a 1031 exchange company that transfers the proceeds from selling similar properties to its portfolio, deferring taxes on the profits. In return, investors receive a portion of the rent from the newly acquired properties. Capital Square earns money through the management fees it charges tenants and through one-time acquisition fees.
The company is a national real estate investment company. It sponsors exchange programs using the Delaware Statutory Trust (DST). It offers high net-worth investors the opportunity to purchase properties with a tax-deferred value. It also provides asset management services. It specializes in commercial real estate investment programs and 1031 exchanges. The company has created more than 100 investment entities with more than $3 billion in assets.