December 13, 2016
Capital Square 1031’s Delaware Statutory Trust (DST) offering for the 220-unit Canopy apartments in San Antonio, is fully subscribed by investors. CS1031 Canopy Apartments, DST, is the 25th DST on which Capital Square has closed since it launched in late 2012.
The DST acquired Canopy at 950 Bitters Road East from S.A. Countryside Investors LLC in July. The asset was acquired with help from a 10-year, 3.73% fixed-rate Fannie Mae loan.
Situated on 8.6 acres, the 37-year-old Canopy includes 13 two and three-story residential buildings, and a clubhouse with fitness and business centers. Additional amenities include a coffee bar, two swimming pools, a fenced pet park and a picnic area.
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Tags: Apartments & Multifamily