Capital Square Launches $41.85M DST Backed by Orlando-Area Townhome Community

Capital Square has launched CS1031 Cacema Townhomes, DST, a Delaware statutory trust offering ownership interests in a 176-unit townhome community in Kissimmee, Fla. The offering seeks to raise $41.85 million in equity from accredited investors.

The property carries a 5.04% fixed interest rate locked in ahead of the offering’s launch, intended to serve investors who need debt on a replacement property to satisfy the Section 1031 debt requirement.

“Interest rates have been exceptionally volatile lately,” said Louis Rogers, founder and co-chief executive officer of Capital Square, a sponsor of tax-advantaged real estate investments and a national developer and manager of housing communities.

“Therefore, Capital Square locked the interest rate at 5.04% on Cacema Townhomes. With favorable debt in place, the DST offering is an excellent choice for exchangers who need debt on their replacement property to satisfy the Section 1031 debt requirement,” added Rogers.

Cacema Townhomes offers three- and four-bedroom floor plans with attached garages, private entries, and semi-private backyards. The community includes a heated pool, fitness center, clubhouse, outdoor kitchen, walking trail, two bark parks, and EV charging stations.

The property is within walking distance of The Loop Kissimmee, a 500,000-square-foot open-air retail center, and approximately 1.5 miles from Crosslands Shopping Center. Nearby employment centers include Walt Disney World, Orlando International Airport, Universal Epic Universe, Lockheed Martin, and AdventHealth Kissimmee. NeoCity, a 500-acre STEM-focused technology district approximately 15 minutes away, has drawn high-wage employers to the submarket, the company said.

Osceola County, where Kissimmee is located, is the fastest-growing county in the Orlando metropolitan area and ranked 10th among the fastest-growing counties in the nation, according to the Orlando Economic Partnership. The county’s population grew 70% from 2010 to 2024 and is projected to more than double by 2040. Population within one mile of the property grew 26% from 2020 to 2025 and is projected to grow an additional 18% through 2030, according to KPM Franklin.

Osceola County recently raised impact fees on new townhome construction by more than 81%, a move Capital Square said will constrain future supply in the submarket.

“Established communities like Cacema Townhomes stand to benefit from reduced competition at a time when demand for larger floor plans remains strong,” said Whit Huffman, Capital Square’s chief investment officer and co-CEO. “Tightening supply across the region should support rent growth and occupancy stability.”

In March 2026, Capital Square fully subscribed another DST offering in Florida: CS1031 The Villages at Miami Gardens BFR Housing, DST, which raised $10.4 million from accredited investors.

Richmond, Va.-based Capital Square has acquired more than 175 real estate assets on behalf of more than 6,500 investors since its founding in 2012. The firm has completed more than $8.9 billion in transaction volume and manages more than 13,000 apartments across multiple states through its Capital Square Living property management division.

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