LOUISVILLE, KY - Capital Square, a leading sponsor of Delaware statutory trust offerings for Section 1031 exchange and other accredited investors, announced the acquisition of a newly built, Class A, 309-unit multifamily community in Louisville, Kentucky. The community, developed by LIV Development, was acquired on behalf of CS1031 The Louis Apartment Flats, DST, a Delaware Statutory Trust offering for Section 1031 exchange and other investors.
"Capital Square is bullish on Class A multifamily investments because they generate an unrivaled combination of stable cash flow, appreciation potential, and inflation protection," said Louis Rogers, founder and chief executive officer of Capital Square. "The facts speak for themselves: for over two years, in spite of the pandemic, Capital Square has collected approximately 99% of all rents due on nearly 11,000 apartment units across the southeast. Investors are flocking to the multifamily asset class even more today because of the proven inflation protection."
Located at 3750 Chamberlain Lane, The Louis is a newly built community completed in 2021. It offers one-, two-, and three-bedroom units with top-of-the-line finishes and an average unit size of 966 square feet. Community amenities include a: resort-style swimming pool with poolside cabanas; 24-hour, state-of-the-art fitness center; resident lounge with a complimentary gourmet coffee bar; business center with private workspaces and printing stations; fenced pet park with pet spa; and 24-hour onsite community market.
"LIV Development is incredibly pleased with the finished product at The Louis," said Andrew Murray, LIV's managing director of development. "We were able to deliver a highly-amenitized community that offers residents an excellent place to call home. Louisville is a great market and we're glad to have completed our first project in the city."
The property is within two miles of multiple retailers, restaurants and entertainment venues. The Louis is also within close proximity of Interstate 265, allowing residents easy access to Greater Louisville and the surrounding region.
"Capital Square acquires high quality apartment communities in high growth markets in the mid-south and Southeast," said Whitson Huffman, chief strategy and investment officer. "Though a currently challenging macro-economic environment, the housing crisis in this country has created strengthening fundamentals in our target markets and multifamily investment continues to provide strong opportunities for compelling risk-adjusted returns for investors, and will do so for the foreseeable future."