Capital Square, a developer of multifamily communities, has purchased a 304-unit multifamily community in Texas.

The community was acquired on behalf of CS1031 Houston Apartments, DST, and aims to raise $56.5 million in equity. Capital Square is a real estate firm specializing in tax-advantaged real estate investments. Capital Square is a developer of mixed-use multifamily properties in the US, with eight current projects totaling approximately 2,000 apartment units with a total development cost of over $600 million.

“Capital Square sponsors the highest quality, newly constructed Class A apartment communities in the nation for the DST/1031 investment program,” said Louis Rogers, founder of Capital Square. “CS1031 Houston Apartments is the latest DST offering that sets the highest standards with unrivaled amenities and best-in class quality.”