LOUISVILLE, KY – Capital Square, a leading sponsor of Delaware statutory trust offerings for Section 1031 exchange and other accredited investors, announced the acquisition of a newly built, Class A, 309-unit multifamily community in Louisville, Kentucky. The community, developed by LIV Development, was bought on behalf of CS1031 The Louis Apartment Flats, DST, a Delaware Statutory Trust offering for Section 1031 exchange and other investors.
“Capital Square is bullish on Class A multifamily investments because they generate an unrivaled combination of stable cash flow, appreciation potential, and inflation protection,” said Louis Rogers, founder and chief executive officer of Capital Square. “The facts speak for themselves: for over two years, in spite of the pandemic, Capital Square has collected approximately 99% of all rents due on nearly 11,000 apartment units across the southeast. Investors are flocking to the multifamily asset class even more today because of the proven inflation protection.”
Located at 3750 Chamberlain Lane, The Louis is a newly built community completed in 2021. It offers one-, two-, and three-bedroom units with top-of-the-line finishes and an average unit size of 966 square feet. Community amenities include a: resort-style swimming pool with poolside cabanas; 24-hour, state-of-the-art fitness center; resident lounge with a complimentary gourmet coffee bar; business center with private workspaces and printing stations; fenced pet park with pet spa; and 24-hour onsite community market.
“LIV Development is incredibly pleased with the finished product at The Louis,” said Andrew Murray, LIV’s managing director of development. “We were able to deliver a highly-amenitized community that offers residents an brilliant place to call home. Louisville is a fantastic market and we’re glad to have completed our first project in the city.”
The property is within two miles of multiple retailers, restaurants and entertainment venues. The Louis is also within close proximity of Interstate 265, allowing residents simple access to Greater Louisville and the surrounding region.
“Capital Square buys high quality apartment communities in high growth markets in the mid-south and Southeast,” said Whitson Huffman, chief strategy and investment officer. “Though a currently challenging macro-economic environment, the housing crisis in this country has made strengthening fundamentals in our target markets and multifamily investment continues to provide strong opportunities for compelling risk-adjusted returns for investors, and will do so for the foreseeable future.”

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FAYETTEVILLE, NC – Olympus Property announced the acquisition of The Heights at McArthur Park apartments, a 288-unit garden style multifamily property in Fayetteville, North Carolina.
The Heights at MacArthur Park is a class A community located in the desirable city of Fayetteville. The property has a premier location with its proximity to some of the region’s largest employers, including Fort Bragg, Goodyear Tire, VA Healthcare Centers, and Walmart Associates. In addition, Amazon plans to build a 1.3 million-square-foot fulfillment facility in the Military Business Park in Fayetteville, which will make more than 500 full-time jobs and hundreds of other part-time roles. This type of job growth will continue to support robust rent growth in the area.
Fayetteville has seen no new deliveries in the market since 2016, and with only two new projects currently underway (totaling 214 units), the vacancy rate for Fayetteville is expected to remain below 4% for the foreseeable future.
“The Heights at McArthur Park is an exceptional asset in a market that is experiencing robust job growth. The strong fundamentals of Fayetteville will make this a fantastic acquisition for Olympus and breaking into a new market is always exciting,” stated Travis Bertetto, Acquisitions Manager.
The Heights at McArthur Park features a resort style pool with a sundeck and cabanas, fitness center, white sand volleyball court, business center, resident park with a playground, and an off-leash dog park. Unit interiors include granite-style countertops, nine-foot ceilings, and upgraded appliances.
“The Fayetteville market has an extremely tight supply pipeline with nothing plotted for development in the foreseeable future. These factors paired with strong rent growth will provide long-term upside for both our partners and firm,” added Chase Bennett, Senior Managing Director.

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JUPITER, FL – S2 Capital announced it has bought Jupiter Isle Apartments, a 359-unit multifamily community in Jupiter, Florida, from Northland. S2, a national value-add multifamily investor with more than $9 billion in transaction volume, is making this investment from its fund, S2 Multifamily Value-Add Fund 1. Terms of the transaction were not told.
Jupiter Isle is a Class B two-tale garden style apartment complex built in 1984. It features one-and two-bedroom units, multiple swimming pools, and other outdoor amenities. Over the next two years, S2 expects to complete a $5 million plus renovation to enhance common areas and remodel unit interiors. Improvements will include exterior painting and balcony repair; renovation of the leasing center, fitness center, and gym; and interior unit upgrades including stainless steel appliances, hardware and countertop upgrades, and the installation of new floors and ceramic tile showers. The refurbishment will position the property for future buyers as a premium asset in a supply constrained market with exceptional demographics.
Located at 6705 Mallard Cove Road on 30 acres, the property lies in the Jupiter/Palm Beach Gardens submarket of Palm Beach County, approximately 16 miles north of Palm Beach. It boasts convenient access to nearby jobs, retail establishments and entertainment. The Palm Beach area is enjoying record demand for apartments and is benefitting from migration trends driving relocation to the region.
“We are excited to invest in Jupiter Isle and believe the property represents a compelling investment for both the community and our investors,” said Davey Leach, VP of Acquisitions. “The county as a whole is enjoying growth, but with constrained supply and very limited new construction, the Jupiter submarket in particular offers tremendous opportunity to transform an older community into a market-leading option for its growing number of residents.”
Nathan Stone, Brad Mason and Guy Griffith of Berkadia helped secure financing for S2. Jaret Turkell of Berkadia represented the seller throughout the transaction.

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