CS1031 Old Towne Loft Apartments, DST
Location: 250-316 East Bank Street, Petersburg, Virginia 23803
INVESTMENT COST: $24,784,000
EQUITY RAISE: $10,809,000
- CASH-ON-CASH RETURN: 5.40%
- OFFERING LOAN TO VALUE: 56.39%
- FIXED INTEREST RATE: 4.32%
Located in the heart of Old Towne Petersburg, approximately two miles from Fort Lee Military Base, and 25 minutes south of Richmond – directly off Interstate 95.
East Bank Street, Petersburg, Virginia
Mayton Transfer Lofts is comprised of three four-story brick buildings with 223 apartments. Originally constructed as a warehouse in 1911 and completely renovated as loft apartments in 2008 and 2012
PROPERT Y H I G H L I G H TS
- Mayton Transfer Lofts is comprised of three four-story brick buildings with 223 apartments
- Originally constructed as a warehouse in 1911 and completely renovated as loft apartments in 2008 and 2012
- 97 percent occupied as of June 18, 2018
- Unique studio, one-bedroom and twobedroom floor plans – in desirable loft-style community
- Situated on 4.66 acres of land
- The property is well-maintained and in excellent condition
- Potential for enhanced-value in the future from upgrading apartment units
LOCAT I O N H I G H L I G H TS
- Richmond, the capital of the Commonwealth of Virginia, is only 23 miles north
- Virginia State University, ranked 41 in Top Public Schools1, is just six minutes away
- Fort Lee Military Base, the third largest training site in the Army2, is two miles away
- The Appomattox River is less than one mile away
- Excellent access to central Virginia via Interstates 95 and 85 and State Route 301.
Short walk to:
- Coffee shop
- Restaurant
- Bakery
- Brewery
- YMCA – newly renovated; residents offered
special memberships
P E T E R S B U R G – A R I C H H I STORY
Mayton Transfer Lofts is located in the heart of Old Towne Petersburg, Virginia, an independent city that was incorporated by the Virginia General Assembly in 1748. Petersburg is home to rich history. Today, Old Towne Petersburg is a community that values its historical heritage and appeals to millennials and empty nesters. The city includes antique galleries, boutiques, craft shops, restaurants, cafes and a mix of renovated residences.
Throughout its rich 100-year history, the Mayton Transfer Lofts buildings have served as storage and distribution space for tobacco, peanuts, liquor and cars. The most prominent owner was T.W. Mayton, who purchased the property in the 1930s for the T.W. Mayton Transfer Company, Inc., a motor freight station and transfer company.
ABOUT CAPITAL SQUARE
Capital Square 1031, LLC specializes in the creation and management of real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive offi cer of Capital Square, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DSTs, tenant-in-common offerings, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.