Capital Square, a U.S. sponsor of tax-advantaged real estate investments and an active developer and manager of housing communities, has announced the sale of CS1031 Bedford Parke Apartments DST, a 232-unit multifamily community in Warner Robins, Ga., through an umbrella partnership real estate investment trust (UPREIT) transaction.
The buyer in the $38.3 million UPREIT transaction was Capital Square Housing Trust, a real estate investment trust sponsored by Capital Square. More than 61 percent of the Delaware statutory trust owners exchanged their DST interests for limited partnership units within the REIT’s operating partnership in a tax-advantaged transaction under Section 721 of the Internal Revenue Code.
Capital Square originally acquired the property for $24.75 million in 2019 as sponsor of the DST/Section 1031 exchange program.
“The DST-to-UPREIT transaction is the next phase in the institutionalization of real estate for smaller exchangers,” said L
