Capital Square Launches $33.3M DST Offering for Active Adult Community in Richmond Suburb
By Staff
Capital Square has launched a $33.3 million Delaware statutory trust offering, CS1031 Richmond Active Adult Living Apartments, DST, featuring a 165-unit, age-restricted multifamily community in the Short Pump suburb of Richmond, Virginia.
The offering is intended for accredited investors seeking tax-advantaged replacement properties under Section 1031 of the Internal Revenue Code. The newly offered property, known as Everleigh Short Pump, is a Class A, active adult living community that is currently 95.7% occupied.
“Active adult communities such as Everleigh Short Pump reflect the convergence of powerful demographic trends, lifestyle-driven housing demand, and durable long-term fundamentals,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “As 1031 exchange investors increasingly seek high-quality replacement properties that offer both income potential and long-term growth, Capital Square believes well-located, age-restricted multifamily assets will continue to play an important role in a diversified real estate portfolio.”
Units in the community average 1,001 square feet and feature premium finishes, including nine-foot ceilings. Amenities include a heated swimming pool, yoga studio, sun deck, great room, resident lounge, and a theater room. An on-site activities director coordinates events ranging from fitness programs and happy hours to educational classes.
Everleigh Short Pump is located across from a Kroger-anchored retail center and within a half mile of Broad Street, the area’s primary commercial thoroughfare. The surrounding Short Pump area features over 5.5 million square feet of retail, restaurant, and entertainment space.
The Richmond metro continues to attract significant economic investment. Nearby, Eli Lilly is constructing a $5 billion pharmaceutical manufacturing facility expected to create 650 permanent jobs and 1,800 construction jobs. The LEGO Group is also developing a two-million-square-foot regional distribution center in Prince George County, an investment of more than $360 million projected to support over 300 jobs.
“Richmond continues to stand out as one of the most stable and compelling demographic markets in the Southeast,” said Whitson Huffman, co-chief executive officer and chief investment officer at Capital Square. “These strong economic fundamentals and steady in-migration support long-term housing demand and reinforce our confidence in the market’s continued performance.”
The Richmond metro and Virginia statewide unemployment rate stood at 3.7% in August 2025, below the national average of 4.3%, according to Federal Reserve Economic Data. Over the past decade, Richmond has experienced approximately 11% population growth. Within a five-mile radius of the property, more than 30% of residents are 55 or older.
Since its founding in 2012, Capital Square has completed more than $7.9 billion in transaction volume and acquired over 175 real estate assets on behalf of more than 6,500 investors.
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