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| Louis Rogers |
SAN ANTONIO, TX -- Capital
Square 1031, LLC, a leading sponsor of replacement property for Section 1031
exchanges, announced the firm has surpassed $500 million in assets under
management with the acquisition of The
Canopy, a 220-unit multi-family community located in at 950 Bitters Road
East in the north central submarket of San Antonio.
“Capital Square 1031
couldn’t be more pleased to reach this milestone for our firm,” said Louis Rogers, founder and chief
executive officer of Capital Square 1031.
“Since inception, Capital Square has
sponsored 31 DST programs, primarily for Section 1031 tax-deferred exchange
investors, and grown our portfolio of assets under management to include more
than 50 properties.
“We look forward to
continuing this growth by adding high quality properties, like The Canopy, to
our portfolio.”
The Canopy was
approximately 97 percent leased at the time of acquisition. The property
includes 13 two- and three-story residential buildings, as well as a clubhouse,
located on 8.6 acres of land.
Situated a quarter-mile from U.S. Highway 281,
the community is accessible via Interstates 410, 35 and 10, as well as Texas
State Highway Loop 1604. The Canopy is equipped with 272 parking spaces.
For a complete copy of the company’s news release,
please contact:
Julie Leber
Spotlight Marketing
Communications
949.427.5172 ext. 703
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