NASHVILLE, TN – Capital Square 1031, a leading sponsor of Delaware Trust Offerings (DST) for 1031 Exchange and other accredited investors, announced the acquisition of Integra Vistas, a 280-unit Class A multi-family community in the Hixson submarket of Chattanooga, known. Tennessee. The property was assigned a Reg. No. for CS1031 Integra Vistas Apartments, DST. D private placement.
"Integra Vistas, based in Chattanooga, Tennessee, is a 2018 Class A apartment building with a heavy population," said Louis Rogers, Founder and Chief Executive Officer. "The affluent Hixson submarket, Chattanooga, where the property is located, has an average projected occupancy rate of 98.3% and forecast rental growth of 4.9% over the next five years, according to the Yardi Matrix."
The community is located at 151 Integra Vistas Drive and was built in 2018 on approximately 20 acres of land. Integra Vistas are comprised of one, two, and three bedroom units ranging in size from approximately 766 square feet to 1,278 square feet.
Communal facilities include a resort-style swimming pool with an extensive sundeck; an outdoor pavilion with kitchen, flat screen TV and fireplace; as well as a resident clubhouse with an entertainment, game and poker room. Additional amenities include a state-of-the-art fitness center with free weight and circuit stations, CrossFit training, cardio, yoga and fitness on request; an animal park with agility equipment; Lockers for receiving parcels for residents attached and detached garages and hiking trails with picturesque mountain views.
CS1031 Integra Vistas Apartments, DST is aiming to raise $ 27 million in equity from accredited investors and has a minimum investment of $ 50,000.
“The community's location gives residents easy access to Chattanooga's two main work centers: Enterprise Industrial Park, which is home to Amazon and Volkswagen plants, and downtown Chattanooga, which is home to BlueCross BlueShield headquarters and more than 60,000 jobs, ”said Whitson Huffman, chief strategy and investment officer. "The property's strategic location near key local employment centers, coupled with its high quality fittings and amenities, makes it an ideal asset for our growing investment property portfolio."
Since the company's inception, Capital Square has acquired 130 properties for over 3,000 investors looking for quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code and other investors looking for stable cash flow and capital appreciation.