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.
SOURCE Capital Square 1031