Capital Square, a leading provider of tax-advantaged real estate investments and an active developer and manager of housing communities, has announced the sale of Bellemeade Farms Apartments in Leesburg, Virginia. The 316-unit multifamily property was owned by a group of investors in a Capital Square-sponsored Delaware statutory trust (DST), who saw an impressive total return of 136.42% or an annualized return rate of 6.47% from their initial investment through a 1031 exchange.
Situated at the address 775 Gateway Drive SE, Bellemeade Farms consists of twelve residential buildings as well as a clubhouse with leasing office facilities. The community offers efficiently designed one- and two-bedroom floor plans ranging from approximately 583 to 954 square feet.
Co-Chief Executive Officer Whitson Huffman expressed his satisfaction with the successful outcome for investors after five years under Capital Square’s sponsorship and management: “We are proud to maintain our track record for delivering strong results to our investors by successfully completing this DST investment cycle.” This latest achievement further solidifies Capital Square’s reputation for consistently generating compelling returns on its offerings.
