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Offering Summary

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CS1031 Colony at Centerpointe Apartments DST

Preview Report

CS1031 Colony at Centerpointe Apartments DST is offering $42,950,000 in equity for a 255-unit garden-style multifamily asset in Midlothian, VA. The total offering price is $84,724,000 against a $74,600,000 acquisition price. First-year distribution is projected at 4.36%, with an average full-term distribution of 4.95%.

Capital structure

Offering Equity$30.36M50.6% · $121,449 / unit
Offering Debt$29.64M

Offering price

$60.0M

Price / unit

$240,000

Units

250

Property age

12 yrs

Projected distribution rate

Avg 6.75%
Yr 1Term avg.
Yr 1 4.36%Term avg. 4.95%

Year-one distribution of 6.25% stepping to 7.20% by year seven.

The property

255-unit 2016-built garden multifamily asset in Midlothian, VA

$74,600,000 acquisition price

CS1031 Colony at Centerpointe Apartments DST

garden-style apartment community

The property was completed in 2016.

14400 Palladium Drive Midlothian, Virginia 23114

14400 Palladium Drive Midlothian, Virginia 23114

255 unitsgarden-style apartment community

$74,600,000

100.0% of portfolio

Seller
—
Property manager
Capital Square
Sponsor

Capital Square

Asset Type

Garden-style apartment community

Location

14400 Palladium Drive Midlothian, Virginia 23114

Units

255

Property Age

The property was completed in 2016.

Offering Price

$84,724,000

Offering Debt

$41,774,000

Offering Equity

$42,950,000

Offering LTV

54.3%

Income % (Yr. 1)

4.36%

Avg. Income (Full Term)

4.95%

Minimum Cash Investment

—

Minimum 1031 Investment

—

Strengths

  • Projected average income of 4.95% over the full term
  • Asset completed in 2016 providing modern garden-style construction

Concerns

  • Total offering price reflects a $10,124,000 markup over acquisition price
  • Selling commissions are not disclosed