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| Bridgeview Apartments, Tampa, FL |
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| Yogi H. Singh |
RICHMOND, VA (Feb. 10, 2014) – Capital Square Realty
Advisors, LLC announced today that its Delaware Statutory Trust investment
offering of Bridgeview Apartments, a 348-unit, garden-style multifamily
community in Tampa, Fla., has been fully subscribed by investors.
Bridgeview consists of 17 wood-framed and stucco
residential buildings ranging from two to three stories and features a recently
renovated clubhouse that includes a modern business center, resort-style pool,
playground, fitness center and tennis and racquetball courts.
The property is nestled within a serene two-acre
park-like setting with three onsite lakes, strategically located in a prime
infill location within Tampa’s thriving metropolitan statistical area.
“Bridgeview is a well-located community in a
sought-after neighborhood in Tampa, and offers residents premium amenities with
easy access to the major employment centers in the market,” said Yogi Singh,
vice president of acquisitions with Capital Square Realty Advisors.
“We are pleased this multifamily DST investment
property is fully subscribed and look forward to providing additional investors
with the opportunity to benefit from ownership of quality multifamily real
estate,” said Louis Rogers, founder and chief executive officer of
Capital Square Realty Advisors.
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| Louis H. Rogers |
Rogers added, “Most DST investors are seeking
replacement property for a Section 1031 exchange to defer federal and state
income taxes otherwise due on the sale of their investment property.
“A growing number of Section 1031 exchange investors
are finding that DST replacement property solves many technical Section 1031
tax requirements, including identification of replacement property and debt
replacement, along with simplifying the due diligence and closing process.
"It
is interesting to note that, while most DST investors are seeking replacement
property for an exchange, a growing number are investing discretionary
(non-1031) funds in DST investments for stable cash flow and safety of
principal, along with the future ability to exchange out of DST investments in
a tax-deferred manner under Section 1031 when the DST property is sold.
" DST
investments have become a solution to the problems frequently encountered by
Section 1031 exchange investors.”
For a
complete copy of the company’s news release, please contact:
Jill
Swartz
Spotlight Marketing Communications
949.427.5172, ext. 701 – office
949.485.1552 – cell
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