PENSACOLA, FL – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings for Section 1031 exchange and other accredited investors, announced the acquisition of The Residences at 393 North Apartments, a newly constructed, Class A, multifamily community in Santa Rosa Beach, near Pensacola, Florida. The 128-unit multifamily community was bought on behalf of CS1031 Residences at 393 North Apartments, DST.
“The Residences at 393 North is a newly constructed, highly amenitized Class A multifamily community featuring spacious floor plans with walk-in closets, top of the line finishes, stainless steel appliances, in-unit washers and dryers, private storage units, double vanities as well as private screened patios and balconies,” said Louis Rogers, founder and chief executive officer of Capital Square. “The community also features high-end amenities such as a 24-hour state-of-the-art fitness center, a resort-style pool and spa, a resident lounge with an entertainment kitchen, and a dog park. The community is located in Santa Rosa Beach, close to Florida’s scenic highway 30A, with convenient access to Destin, Panama City, and numerous beaches and parks.”
Located at 77 Exuma Way, the community was completed in 2021 and is situated on 10.89 acres of land. The Residences at 393 North features one-, two- and three-bedroom floorplans with an average unit size of 1,096 square feet.
As of October 2021, the property has a waiting list of 68 prospective tenants.
CS1031 Residences at 393 North Apartments, DST seeks to raise $23.3 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Surrounded by luxury beach houses, upscale dining and retail options, as well as white sand beaches and turquoise waters, Residences at 393 North is ideally located in the picturesque area of Florida’s Emerald Coast,” said Whitson Huffman, chief strategy and investment officer. “Several homes in the surrounding area are priced between $1 millionand $8 million, proving the area’s affluence. With its high occupancy of nearly 98% and ideal location, the community fits perfectly within our investment criteria for Class A multifamily properties.”
“Residences at 393 North has instantly become one of the highest quality multifamily assets along Florida’s Emerald Coast and will continue to be highly sought by the most discerning lifestyle renters in the market for many years to come,” said Colliers International Director/Partner Mike Steiner. Steiner represented both the buyer and seller in the transaction.

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RALEIGH, NC – Township Capital, alongside The Preiss Company, announced the acquisition of Trilogy Cameron Village and The Greens at Tryon, a pair of multifamily properties in Raleigh, North Carolina. This dual-property deal marks Township’s fifth and sixth acquisitions with The Preiss Company.
“Securing these two assets together was an inimitable opportunity,” said Susan Folckemer, Chief Acquisitions & Development Officer at The Preiss Company. “We are thrilled to work collectively with Township Capital once again to secure core investment assets in a market key to each of our strategies.”
Trilogy Cameron Village (“Trilogy”), built in 2020, is a Class-A+ asset. It offers modern studio, 1-, 2- and 3-bedroom apartments with amenities including chef-inspired kitchens and private balconies. Trilogy sits in one of Raleigh’s most well loved neighborhoods. Its location is a walker’s paradise with a Walk Score of 92, and access to five-star shopping and luxe cafes across a six-block radius.
The Greens at Tryon is a three-tale, garden-style multifamily property built in 2000. Located in the heart of Raleigh, The Greens at Tryon offers large floor plans with high ceilings as well as community amenities including a fitness room, basketball and volleyball courts, dog park and pool. As part of the value-add strategy in place, renovations are slated to occur which will upgrade the vintage Class-B asset up to Class-A.
The two assets each have over 200 units and occupancy rates above 90%. Both properties are located in close proximity to downtown Raleigh and North Carolina State University.
According to SmartAsset’s 2021 study, Raleigh is ranked 13th on the list of where millennials are moving – with Cary, a town just west of Raleigh, being ranked No. 7 among hot spot destinations seeing an influx of millennials ages 25 to 39 moving to the area. The pandemic played a role in increased migration to secondary markets outside of larger cities.
“Township’s continued relationship with The Preiss Company allows us to deliver prime investment opportunities, like these two multifamily assets, to our investors,” said Matthew Gorelik, CEO at Township Capital. “The success of working together is a result of our ability to align our strategies and translate that dynamic across different types of deals.”
Using its unique passive co-GP model, Township Capital continues to deliver premium investment opportunities to its investors. Throughout 2021, Township grew its portfolio within the multifamily sector, acquiring several value-add properties alongside its partners. The firm continues to seek value-add opportunities which align with its strategy and achieve honest returns for its investors.

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ATLANTA, GA – Zevulon Capital, Inc. and FCP announce the acquisition of ReNew Parc Shores, a 520-unit apartment community at 3925 Satellite Blvd. in Duluth, Georgia. The real estate investment companies bought the asset from FPA Multifamily, LLC for $94.75 million. Bainbridge Companies will manage the value-add, workforce housing property, which will be renovated and rebranded as Summit Station at Duluth.
Renew Parc Shores offers proven upside potential in Atlanta s fastest-growing county, said Yossi Kagan, Zevulon Capital Principal. We look forward to partnering with FCP to capitalize on the current capital improvements program to elevate the community from the inside out while enhancing operations and livability.
Zevulon and FCP plot to complete interior renovations on the remaining units and perform exterior and amenity improvements that include installing new roofs; upgrading the pool, fitness center, clubhouse, and parking lot; replacing HVAC/HW; and improving the landscaping.
Located in Gwinnett County, ReNew Parc Shores is a historically high-performing resort-style community with an exceptional amenities package and convenient location near Steve Reynolds Boulevard, Pleasant Hill Road, and I-85. Community residents benefit from simple access to some of the region s largest employers, including RockTenn, Asbury Automotive, and Primerica.

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