RICHMOND, VA – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced the acquisition of Hunter’s Chase, a 320-unit apartment community in the Richmond suburb of Midlothian, Virginia. The community was bought on behalf of CS1031 Hunter’s Chase, DST.
“This is Capital Square’s twelfth acquisition of a multifamily community in the Richmond area for the DST/1031 exchange program,” said Louis Rogers, founder and chief executive officer of Capital Square. “The Richmond area loved 12% rent growth over the last year, driving cash flow and residual value. Capital Square is a prolific buyer of apartment communities in the Mid-Atlantic region that benefit from a combination of strong rent growth and high occupancy, along with exceptional economic opportunities, and the ongoing migration of people from gateways citites to the suburbs.”
Located at 5200 Hunt Master Drive, the 24.7-acre garden-style apartment community offers one-, two- and three-bedroom units averaging 816 square feet with spacious floor plans, walk-in closets, in-unit washer and dryer, stainless steel appliances and private screened patios and balconies. The property amenities include a resident clubhouse with coffee bar, fully equipped fitness center, swimming pool with a sundeck, multi-use sports court, BBQ and picnic areas, fenced dog park, playground, carwash station and package lockers.
Hunter’s Chase is adjacent to the Village at Swift Creek and Commonwealth Center shopping malls, offering residents a wealth of local shopping and dining options.
The community is situated in a thriving submarket that Yardi Matrix project’s will maintain a 10-year occupancy average of 96% through 2032. According to Axiometrics, the Chesterfield County submarket in which Hunter’s Chase is located, is projected to experience annual effective rent growth of 6.6% and an average occupancy rate of 97.3% through 2025.
“Hunter’s Chase is located in a high-growth submarket of Richmond that we expect will continue to flourish over the next several years,” said Whitson Huffman, chief strategy and investment officer. “The property has exceptional amenities and is in the midst of a thriving metropolitan region that has persistently strong demand for quality multifamily living.”

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CHARLOTTE, NC – Embrey, a diversified real estate investment company based in San Antonio, has closed on a five-parcel assemblage totaling 4.5 acres of land in Charlotte, North Carolina. The firm plans to construct Southerly at LoSo, a high-end, 403-unit luxury apartment community, in the well loved Lower South End neighborhood locally known as “LoSo.” Hunter Barron, of JLL helped Embrey with the assemblage.
“This will be Embrey’s first project in Charlotte and construction will start in late June,” says Brad Knolle, Executive Vice President of Development. “There is high renter demand in the LoSo area and vacancy rates are low. We are developing a community that will deliver a living experience that is in keeping with the vibrant and trendy LoSo area.”
Units will feature keyless entry, 9- to 12-foot ceilings, quartz countertops, walk-in closets with built-in shoe racks and designer finishes throughout. The property will offer luxury amenities such as a resort-style pool with shaded cabanas, a bocce ball court, a dog park, a bicycle repair and storage room and more. Also included is a seventh-floor sky lounge for residents to relax while enjoying views of the Uptown Charlotte skyline.
The design team, including Cline Design and Land Design, has worked tirelessly with Embrey to make a timeless building for this iconic corner. Moore & Van Allen and Hart & Hickman have provided brilliant land entitlement and environmental services to help Embrey achieve this closing. Elford, Inc. has been selected to build the project.
Southerly at LoSo is expected to start leasing in late 2024 with completion in early 2025.

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HAVERHILL, MA – Scully Company announced their recent acquisition of The Bixby, a 128-unit, multifamily asset located in Haverhill, MA within the quick-growing Northern Essex submarket. The Bixby marks Scully Company’s second community in New England and is consistent with the focused portfolio expansion in the region.
Scully bought the market rate property from Blackfin Real Estate Investors with the disposition and financing coordinated by Berkadia. The Pennsylvania-based firm intends to modernize select unit interiors, enhance common areas and provide a best-in-class living experience for residents.
“We are thrilled to buy The Bixby and loved working with the seller and Berkadia teams. The brilliant location and ability to offer residents a well-amenitized living experience on the idyllic Merrimack River made for an attractive investment profile. We look forward to being excellent stewards of the community and furthering our portfolio in New England,” said John Schonborn, Managing Director of Investments for Scully Company.
The Bixby offers pet-friendly, modern, studio, one, and two-bedroom apartments. While a suburban location, the community is transit-oriented with the MBTA station just across the street and provides residents access to 25+ shops and restaurants along Washington Street within a 5-minute walk. Existing community amenities include a resident lounge with pool tables, shuffleboard, and smart TVs, an entertainment kitchen, 24-hour fitness center, bark park, resident storage, dedicated package room, and secure on-site structured parking.

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