Property Description

Hunter’s Chase is a 320-Unit, Class B garden-style apartment community located in the Richmond suburb of Midlothian, Virginia.

Units offer spacious floor plans with walk-in closets, stainless steel appliances, an in-unit washer, and dryer, as well as private screened patios and balconies. The property benefits from $7 million in recent capital improvements.

The property offers tremendous value potential through interior unit renovations. Apartment rents are soaring nationwide, with a median annual increase of 16.7%  in March.1 Additionally, the Midlothian submarket benefitted from 16% rent growth in the year ending March 2022.

Property Type

Multifamily

Structure

Delaware Statutory Trust

Capital Square Hunter’s
Chase Apartments DST

VA

Remaining Availability

52% Remaining
Total Funds
$91,337,000
Remaining Availability
$25,100,000
Minimum Investment
see PPM
Funded To Date
$23,100,000
Est. Hold Period
10 Years
Leverage
47.23%
Equity Raise
$48,200,000
Price/SF or Price/Unit
$285,428/Unit

For More Details

 
 
 

Location Details

 
 
 

Population

1.3 million

Population Growth

3.7%

About The Area

Located approximately 15 miles southwest of downtown Richmond, Midlothian is situated within Chesterfield and Powhatan Counties. Midlothian recorded the highest year-over-year rent growth, up 19.6% in August 2021, according to the recently published Yardi Matrix Multifamily Report – Richmond Drives On.

Home to eight Fortune 500 headquarters, the Richmond region has a population of approximately 1.3 million people. With four interstates, an international airport and one of the nation’s largest ports, Richmond offers residents convenient access to 45% of the United States population within a one-day’s drive. The region has maintained a corporate tax rate of 6% since 1972 and its electric rates are 30% below the national average, offering companies a lower cost of doing business. The region features a highly educated workforce, with more than 60% of working adults having college experience and 41% having a bachelor’s degree.

CNBC ranks Virginia as the #1 state for business.2 CoStar has announced it will build a $460 million corporate campus in Richmond, creating 2,000 jobs.3 Virginia boasts a booming economy, with Amazon having developed its East Coast headquarters (HQ2) in Arlington in June 2019. Amazon is planning to bring 25,000 jobs to the state with that $2.5 billion development.4 Virginia is home to the University of Virginia, The College of William & Mary, James Madison University, Virginia Tech, Virginia Commonwealth University and the University of Richmond.

 

Sponsor

Since 2012, Capital Square has helped investors navigate tax-advantaged real estate offerings.

The company’s experienced, investor-centric team provides a successful foundation for investment opportunities including:

  •  Delaware statutory trusts as replacement properties for 1031 exchanges
  • Qualified opportunity zones
  • Private investment offerings

Dedicated to both cash investors and those seeking replacement properties as part of a Section 1031 exchange, Capital Square’s veteran staff knows how to leverage current market conditions to obtain resilient, stable properties.

The bulk of DST offerings consist of multifamily and healthcare assets. Capital Square also sponsors turnkey real estate investment offerings with low investment minimums. This provides investors with access to higher quality real estate.