Property Description

The Village at Westland Cove is a 240-unit, Class A multifamily community located in Knoxville that was completed in 2019.

Located on scenic Fort Loudoun Lake, the property offers residents a lake-lifestyle at a modest cost compared to lakefront homes within a mile of the property that have sold for over $1 million.

The property includes a dock on the lake to provide residents small boat access.

Situated in Knoxville, Tennessee, The Village at Westland Cove Apartments offers an upscale lifestyle with lakefront living, in one of the city’s most coveted neighborhoods. Our prime location places you near several shopping, dining, and entertainment options, including Turkey Creek, West Town Mall, Target, Soccer Taco, and Concord Park. We’re also situated near several area schools and employers, including A L Lotts Elementary School, West Valley Middle School, Bearden High School, South College – Parkside Campus, Lincoln Memorial University, Discovery, Inc., University of Tennessee, University of Tennessee Medical Center, and Covenant Health Systems. With easy access to Pellissippi Parkway, Kingston Pike, and I-40 you are only minutes away from all that Knoxville has to offer!

The Village at Westland Cove Apartments is a pet-friendly community, gladly accepting both cats and dogs! Bring your furry friend in today and find the perfect home for you both!

Property Type

Multifamily

Structure

Delaware Statutory Trust

Capital Square Village
at Westland Cove DST

TN

Remaining Availability

1% Remaining

Total Funds
$98,421,000
Remaining Availability
Taking Backups
Minimum Investment
see PPM
Funded To Date
$52,810,000
Est. Hold Period
10 Years
Leverage
46.34%
Equity Raise
$52,810,000
Price/SF or Price/Unit
$410,087/Unit

For More Details

 
 
 

Location Details

 
 
 

Population

Population Growth

About The Area

Located in Knoxville, the third largest city in Tennessee, the property is in the 10th hottest housing market in the country for 2021, with a 5-year value increase of 55%, according to Zillow Group. The Bureau of Labor Statistics reports that Knoxville gained 19,305 jobs over the twelve-month period ending in February 2022, with an unemployment rate of

The Knoxville MSA population was 893,412 as of July 2021 according to the US Census Bureau. • Knoxville’s rental rates are increasing, with 18% year-over-year rent growth and 98.1% average occupancy as of March 31, 2022.

3M recently announced that it will invest approximately $470 million and add more than 600 new jobs by 2025 to expand their existing manufacturing facility in the Knoxville MSA.

The Pinnacle at Turkey Creek, a 650,000-square-foot open-air shopping center featuring over 65 stores and restaurants, is located approximately five miles from the property. North Shore Town Center, a mixed-use development that includes Publix and Target, is approximately two miles from the property.

The Oak Ridge Reservation, operated by the U.S. Department of Energy and home to Oak Ridge National Laboratory, is approximately 19 miles from the Village at Westland Cove and is the largest employer in the area. According to the East Tennessee Economic Council, approximately 14,667 full-time jobs were directly provided by the DOE and its major contractors within Tennessee in 2020, with annual wages and salaries totaling nearly $1.311 billion. Wbir.com reports that Bill Lee, Tennessee’s governor, recently announced a $72 million budget for the UT-Oak Ridge Innovation Institute, a collaboration between the University of Tennessee and Oak Ridge National Laboratory, in a bid to attract and maintain science, technology, engineering and mathematics (STEM) talent in the Knoxville area. The property is located near several prominent educational institutions, including The University of Tennessee and University of Tennessee Medical Center, and is located within the state’s third ranked Knox County School System.2 is Turkey Creek Medical Center, a Level III trauma center that is part of Tennova Healthcare, is located approximately two miles away from the property

 

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.