Capital Square completes sale of Bellemeade Farms Apartments

The 316-unit DST property is located at 775 Gateway Dr. SE in Leesburg, VA

Leesburg, VA — Capital Square announced the sale of Bellemeade Farms Apartments, a 316-unit multifamily property located in Leesburg. The property was owned by a group of investors in a Capital Square-sponsored Delaware statutory trust (DST) who realized a 136.42% total return, or a 6.47% annualized return, from their 1031 exchange investment.

Since 2018, Capital Square has taken 31 DST offerings full-cycle that have resulted in an average 168.45% total return and an average 12.95% internal rate of return.

“This is another successful sale of a DST property,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “For 12 years, Capital Square has proven a track record of delivering stable returns and appreciation for DST investors.”

Located at 775 Gateway Dr. SE, Bellemeade Farms is comprised of 12 residential buildings and a clubhouse with a leasing office. The community includes efficiently designed one- and two-bedroom floorplans ranging in size from 583 s/f to 954 s/f. Community amenities include a resort-style pool, outdoor grilling and entertaining area, resident lounge, club room, dog park and spa, tennis courts, 24-hour fitness center with a cardio studio, and garden plots available to rent.

Situated on 15.74 acres of land, the community was originally constructed in 1988 and has had $2 million invested in maintenance, landscaping, and common areas by prior institutional ownership over the last three years.

“By investing in the DST, Capital Square’s investors secured ownership of a large, producing multifamily property in one of the wealthiest counties with significant population growth and a high-ranking school district,” said Whitson Huffman, co-chief executive officer. “After five years of sponsoring and managing this investment offering, we are pleased to continue our successful track record and once again deliver a compelling result to investors by taking this DST full-cycle.”