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 The Trails at Small Pump, a 350-unit apartment community in Richmond, Virginia. The community was bought on behalf of CS1031 The Trails at Small Pump Apartments, DST. The acquisition of the property brings the total transaction activity of Capital Square to more than $6 billion since the company’s inception in 2013.
“Capital Square continues to own the home court from northern Virginia, through central Virginia (Richmond and Williamsburg) to Tidewater with this latest acquisition in suburban Richmond, Virginia,” said Louis Rogers, founder and chief executive officer of Capital Square. “This is Capital Square’s twenty first acquisition of a Class A or B apartment community in Virginia. The region is experiencing exceptional stability, job production and rent growth.”
Located at 3900 Acadia Lane, the 31.19-acre property offers one-, two- and three-bedroom units averaging 878 square feet. The spacious floorplans include high-end finishes such as modern white cabinets, stainless-steel appliances, subway tile backsplash, hardwood-style floors, new fixtures and granite countertops. Community amenities include a clubhouse, fitness center, recreation center, swimming pool with a sundeck, grilling area, tennis court, package lockers and an expansive dog park.
Residents of The Trails at Small Pump have access to 32 million square feet of retail and office space within a five-mile radius of the property. West Broad Village, a premier mixed-use town center with a variety of retail, dining and entertainment options, sits adjacent to the property. Innsbrook, a six million square foot business park home to several major employers, is less than three miles from the property. Simple access to Interstate 64 connects residents to additional major employment centers in the region.
The property is located in Three Chopt, one of Richmond’s most affluent submarkets, which features average household incomes in excess of $100,000 and an occupancy rate of 95.3%. Projected rent growth for the submarket is 11% for the next 12 months.
“The Trails at Small Pump is ideally located in the midst of one of the most affluent neighborhoods in Richmond and provides residents with simple access to major employment and retail centers,” said Whitson Huffman, chief strategy and investment officer. “The property typifies the value-add, amenity-rich multifamily properties that Capital Square seeks to bring to its investors.”
A new Amazon Robotics Center is currently under construction just 20 minutes from the property. Once completed, the Amazon location will add 1,000 high-paying jobs while working to enhance Richmond’s emerging tech and logistics center. Further south of the property, in Chesterfield County, The LEGO Group is investing more than $1 billion to build a 1.7 million-square-foot plant on 340 acres. The company anticipates hiring 1,760 employees at the facility. Additionally, CoStar announced their intentions to build a $460 million corporate campus, bringing an anticipated 2,000 jobs to the Richmond MSA.

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DALLAS, TX – Lifespace Communities announced that it has finalized an agreement with a private equity investment group for Lifespace to buy three senior living campus communities in Texas – Meadow Lake in Tyler, Wesley Court in Abilene, and The Craig in Amarillo.
The three communities are currently managed by ER Senior Management, LLC (Evergreen), which will continue to provide management services to each community through the end of the year. Lifespace welcomes these three communities into its current family of 14 communities, including three in Texas. The communities will fully transition onto Lifespace management, systems, and support at year-end.
Financial terms of the acquisition are not being told at this time.
Meadow Lake, located in Tyler, is a private residential neighborhood focused on the outdoors. Nestled on 92 acres, Meadow Lake provides a full continuum of care with 205 residences including independent living apartment and cottage homes, helped living, memory care and skilled nursing levels of living.
Wesley Court, located in Abilene, is a private residential neighborhood consisting of executive and garden homes, independent living apartments, helped living apartments, and private nursing care rooms. Wesley Court sits on 70 acres with 182 residences.
The Craig, located in Amarillo, is the largest of these three communities with 302 residences in independent living (cottages and apartments), helped living, and skilled nursing levels of living. Located on 40 acres, The Craig is in the fastest growing area of Amarillo with simple access to health care, golf clubs and shopping.
“We believe Meadow Lake, Wesley Court and The Craig are a fantastic fit for Lifespace as we share similar values and an ingrained commitment to service in delighting our residents,” said Jesse Jantzen, Lifespace president and CEO. “The addition of these communities advances our ongoing strategic objective to engage in the rigorous and disciplined pursuit of growth opportunities to scale and diversify our core business.”
The communities join the Lifespace family with strong occupancy levels while offering a combination of Type C entrance fee and rental contracts, providing Lifespace an opportunity to expand its service offerings and diversity its revenue base.
“This transaction represents a natural transition to an established and robust platform that will support and grow the communities over the long term. As part of the acquisition, we will partner with Lifespace to help support, recognize, and embrace the culture established at each of the communities and will focus on enhancing quality, and enriching experiences for residents and team members, while building connections, trust and confidence,” said Brian Dowd, president and CEO of ER Senior Management, LLC.

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MIAMI, FL – Denver-based Avanti Residential has bought Soleste Grand Central, a newly built luxury 360-unit apartment community in downtown Miami. Avanti bought the Class A multifamily community for $181 million from The Estate Companies, who developed the project in 2021 and achieved 95% occupancy in six months amid ongoing strong demand for high quality lifestyle apartments in South Florida.
We continue to see strong fundamentals in several South Florida multifamily markets, where employment growth and migratory trends remain impactful demand generators in an already supply constrained apartment sector, said Christian Garner, president and CEO of Avanti Residential. Soleste Grand Central fits perfectly with our investment strategy of acquiring premier lifestyle-forward multifamily communities in prime locations.
Soleste Grand Central is located at 218 NW 8th Street, with brilliant walkable access to a wide array of retail and dining options and immediate ingress/egress access to I-95. The project is within a two-mile radius of a sizable and growing employment base currently boasting 170,000 jobs.
Soleste Grand Central features an eclectic mix of studio, one-, two-, and three-bedroom apartments appointed with top-of-the-line finishes, full-size washers and dryers, Nest thermostats and keyless entry systems.
Onsite amenities include a fourth-floor resort-style pool and pool deck with shaded cabanas, a fitness center, yoga and spin studios, and a salon. The project also meets the needs of a young professional demographic with a stylish business center that includes individual co-working spaces and a conference room. Other amenities include bike storage and repair, a Bark Park and pet washing station, a curated clubroom, a café and a gaming lounge.
This acquisition is Avanti s fourth South Florida investment in the past year, following major buys in Boynton Beach, Doral, and St. Petersburg. Avanti has now invested nearly $500 million in Florida and continues to actively seek select Class A apartments in this and other key target markets nationwide.
This acquisition extends our deep industry experience in the multifamily sector as we continue to source and buy institutional quality apartments in strong markets and locales, added Jason Wine, vice president of acquisitions for Avanti. Our nationwide investment strategy relies equally on the strong working relationships we maintain with local market real estate professionals.

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