Capital Square 1031 has acquired SomerHill Farms, a 140-unit multifamily community in Gainesville, Va., a suburb of Washington, D.C. The property was acquired for CS1031 SomerHill Farms Apartments, DST, a Reg. D private placement.
“SomerHill Farms Apartments is next in Capital Square’s line of value-add multifamily communities for 1031 exchange and other investors seeking stable cash flow and capital appreciation,” said Louis Rogers, founder and CEO of Capital Square. “The community is located in a dynamic and rapidly growing Northern Virginia suburb, just outside of Washington, D.C., with robust population growth, strong rental increases, high barriers to entry, and exceptional job opportunities within commuting distance, including Amazon’s $2.5 billion HQ2 development.”
Located at 7351 Yountville Drive, the community is situated on 18.76 acres. Constructed in 2006, SomerHill Farms features six three- and four-story residential buildings and