Capital Square announced the $75.5 million sale of Ivy Commons Apartments, a 344-unit community in Marietta, Ga., less than 10 miles from Truist Park, home of the Atlanta Braves.
The property was owned by a group of Delaware Statutory Trust (DST) investors.
"Capital Square is thrilled to have sponsored another successful full-cycle DST program for Section 1031 exchange and cash investors," said Louis Rogers, founder and co-CEO at Capital Square. "This value-add DST program produced stable cash flow as anticipated and an exceptional profit on sale, resulting in approximately 200 percent total return and 20 percent IRR. The investors are thrilled with the outcome; most are reinvesting with Capital Square in another DST/1031 to continue the tax deferral under Section 1031."
The community comprises 39 residential buildings and a dual leasing center with a clubhouse. Ivy Commons Apartments offers one-, two- and three-bedroom units averaging 1,075 square feet. C
