JACKSONVILLE, Fla.,
June 13, 2018 /PRNewswire/ -- Capital
Square 1031, a leading real estate investment and management firm
specializing in Delaware statutory
trust offerings, announced today its acquisition of a
newly-constructed office building located in Jacksonville, Florida that was built to suit
for Dream Finders Homes, one of the nation's leading private
homebuilders.
Located at 14701 Philips Highway, the 45,000-square-foot Class A
office building was completed in February
2018. The building consists of three stories and is situated
on 3.14 acres of land.
"This attractive property was designed to meet all the needs of
Dream Finders Homes in a single, efficient location, with design
center, title and closing department, mortgage department and
corporate HQ functions in a single location to make the home buying
process more efficient," said Louis
Rogers, founder and chief executive officer of Capital
Square 1031. "The property is in an ideal location within a growing
area near numerous communities where Dream Finders Homes has
properties under construction. The building is leased on a
long-term, absolute net basis, where the tenant is responsible for
taxes, insurance and maintenance, and is located in a high-growth,
income tax-free state. Capital Square 1031 is pleased to add the
property to our growing portfolio of assets under management, which
currently has a total value of approximately $685 million, based on investment cost."
Founded in 2009, Dream Finders Homes focuses on delivering
unique designs and building high quality homes at affordable
prices. The company ranked as the No. 1 Fastest Growing Private
Company by Revenue Growth in Jacksonville by the Jacksonville Business
Journal in 2017 and as the 2nd Fastest Growing Home Builder in
the U.S. by Professional Builder in 2017. The company is the
Official Home Builder of the Jacksonville Jaguars, a partnership
that also includes a stadium home at EverBank Field.
Capital Square 1031 was represented by Matt Bear, founder and chief executive officer
of Bear Real Estate Advisors, in its acquisition of the property.
Rogers added, "This is another phenomenal asset that
Matt Bear has sourced for Capital
Square. Matt and his team at Bear Real Estate Advisors have
demonstrated their ability to find exceptional assets along the
lines of the Tampa Pharma building and, now, Dream Finder Homes
building. We couldn't be more pleased."
About Capital Square 1031
Capital Square 1031 is a national real estate investment and
management company. The firm sponsors real estate exchange programs
that qualify for tax deferral under Section 1031 of the Internal
Revenue Code. Capital Square uses the Delaware Statutory Trust
(DST) structure to make quality real estate available to a larger
number of investors. Capital Square provides a range of services,
including due diligence, acquisition, loan sourcing, property
management/asset management, and disposition, for a growing number
of high net worth investors, private equity firms, family offices
and institutional investors. As of June 8,
2018, the firm oversees a growing national portfolio of 68
real estate assets valued at approximately $685 million (based on investment cost). In
August 2017, Capital Square ranked
485th on the Inc. 5000 list of fastest growing companies, making it
the top-ranking Richmond,
Virginia-area company, with 925 percent three-year growth.
In 2016, Capital Square was ranked as the second fastest growing
company in the Richmond, Virginia
area by Richmond BizSense. To learn more, visit
www.CapitalSquare1031.com.
Contact:
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Julie
Leber
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Spotlight Marketing
Communications
|
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949.427.5172, ext.
703
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julie@spotlightmarcom.com
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SOURCE Capital Square 1031