Capital Square, a leading provider of tax-advantaged real estate investments and an active developer and manager of housing communities, has successfully sold Komar Desert Center. This retail center is strategically located in the Palm Springs suburb of La Quinta and is anchored by Costco. The deal resulted in a remarkable 146.60% total return for investors who participated through a Capital Square-sponsored Delaware statutory trust (DST). They enjoyed an annualized return of 5.26% from their initial investment made through a 1031 exchange.
According to Louis Rogers, founder and co-chief executive officer at Capital Square, despite the challenges posed by the pandemic such as mandatory shutdowns and tenant issues, Komar Desert Center remained stable throughout its holding period with full operations resulting in profitable returns for investors. While known primarily for sponsoring multifamily properties currently, Capital Square’s team possesses expertise in managing various types of commercial properties including retail centers like Komar as well as medical facilities and industrial spaces.
Built-in 2008 with easy access to Interstate 10 connecting Coachella Valley to Los Angeles on one side and Phoenix on the other side; this property offers prime location benefits that attract potential tenants easily. It also enjoys proximity to Rancho La Quinta Country Club Homes along with fully occupied Coral Mountain Apartments making it highly desirable among residents looking for convenience near their homes while offering excellent opportunities for businesses seeking visibility among potential customers within close reach from residential areas.
Photo courtesy: Crexi.
The article titled “La Quinta Retail Sells For147% Total Return To DST Investors” was originally published on Connect CRE website.
