Capital Square, a developer of multifamily communities, has acquired Lakeside on Riverwatch Apartments, a 200-unit garden-style apartment community in Martinez, Ga., an Augusta suburb.
The property offers one to three-bedroom units averaging 1,109 square feet, 95 percent of which have been recently renovated by the seller. The community was acquired on behalf of CS1031 Lakeside on Riverwatch Apartments DST (Delaware statutory trust), which looks to raise $26.8 million from investors and has a minimum investment requirement of $50,000.
“Lakeside on Riverwatch is located in an exceptional area, near the town ranked as the best place to live in the U.S. and the fourth fastest growing county in Georgia between 2010 to 2020,” says Louis Rogers, founder and co-chief executive officer of Capital Square. “This is Capital Square’s sixty-second acquisition of a multifamily community for the DST/1031 program. Capital Square is bullish on multifamily investments like Lakeside on Riverwatch because they have the potential to provide both stable cash flow and appreciation for investors.”