Cacema Townhomes
Multifamily - build-for-rent townhomes in Kissimmee, FL — sponsored by Capital Square
Files with the SEC as CS1031 Cacema Townhomes, DST
Minimum investment
$50k
Offering size
$41.9M
How much has sold
None sold yet
Asset type
Multifamily - build-for-rent townhomes
Location
Kissimmee, FL
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
CS1031 Cacema Townhomes, DST is a Delaware statutory trust — a fractional co-ownership vehicle whose interests can be acquired in a 1031 exchange — holding a newly built build-for-rent townhome community in Kissimmee, Florida, in the Orlando area. JLL reports the community was completed in 2024 and that the sale from Epoch Residential to Capital Square, LLC closed on May 26, 2026.1 The Trust is raising now.
$41.85M equity raise; leveraged, rate locked 5.04%; newly built; 3-4BR w/ garages; Orlando MSA
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These links support the public record as a whole; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
Epoch Residential says it built Cacéma Townhomes in 2024, developed through a partnership with The Carlyle Group.3 Baker 1031's offering page describes about 18.48 acres, 39 townhome buildings plus a clubhouse and a maintenance building, and 130 three-bedroom and 46 four-bedroom homes averaging 1,424 square feet.2 That page reports a May 19, 2026 acquisition at $65.2 million.2 Multi-Housing News reported $56.2 million, citing Osceola County records.4
- Property address
- 2670 Meadow Creek Road, Kissimmee, FL
- Property size
- 176 units
Who is the tenant, and what's the lease?
No single corporate tenant here: residents sign their own apartment-style leases. Baker 1031 describes a master-leased DST — the Trust leases the whole community to an affiliated master tenant that operates it and pays rent to the Trust — with sponsor affiliate Capital Square Living handling day-to-day management.2
How are sales going?
These are the sponsor’s own numbers. They can lag what has actually sold, and they do not confirm that interests are still available.
Raise history appears here once sales are filed — free account required.
How is it financed, and what does it pay?
Leveraged rather than all-cash: mortgage debt sits ahead of investor equity, so the property services the loan before anything reaches investors. Baker 1031 identifies a $33,405,000 nonrecourse Freddie Mac loan arranged through Walker & Dunlop, interest-only for its first eight years and maturing June 1, 2036.2
- Financing
- Leveraged. This offering reports mortgage debt on the property.
- Loan interest rate
- 5.04%capitalsq.com
Who's behind it?
Capital Square sponsors this Trust through Capital Square Realty Advisors, LLC, whose 1031 platform places individual properties into single-asset trusts under the CS1031 name.2 The firm announced the offering on May 26, 2026, the same day JLL said the sale closed.1 Day-to-day operations run through affiliate Capital Square Living, which puts Capital Square on both sides of the management relationship.2
- Sponsor
- Capital Square
- Legal Trust name
- CS1031 Cacema Townhomes, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 8 active / 28 total offerings from Capital Square
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The SEC record is a single initial Form D — the brief notice an issuer files when a private placement begins — for a Delaware statutory trust organized in 2026, with no amendments to date.5 Because it is offered under the rule permitting general solicitation, Capital Square may advertise publicly but must verify that every investor is accredited.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
Is Cacema Townhomes still raising money?
Top1031 lists Cacema Townhomes as active because the sponsor is still filing with the SEC. That does not confirm that interests remain available.
Where does Top1031 get the data for Cacema Townhomes?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust actually own?
One newly built build-for-rent townhome community, Cacéma Townhomes, at 2670 Meadow Creek Road in Kissimmee, Osceola County, Florida, inside the greater Orlando market. Baker 1031 describes a 176-unit Class A community of three- and four-bedroom townhomes on roughly 18.48 acres, with 39 residential buildings, a clubhouse and a maintenance building.[2] JLL reports the community was completed in 2024 and that the sale from Epoch Residential to Capital Square, LLC closed on May 26, 2026.[1]
Why do sources disagree on what Capital Square paid?
Because sponsor-side and county-record accounts differ. Baker 1031's offering page reports that the Trust acquired the property on May 19, 2026 for $65,200,000, within a total investment cost of $75,255,000.[2] Multi-Housing News reported a $56.2 million purchase price, citing Osceola County public resources.[4] Research did not retrieve the recorded deed itself, so the gap is unresolved here. The Private Placement Memorandum (PPM) — the offering's full legal disclosure document — states the price and the load between purchase price and total investment cost, and is the document to reconcile against.
Who is the tenant — the residents or a master tenant?
Both, in a sense. Residents rent individual townhomes, but Baker 1031 describes a master-leased structure in which the Trust leases the whole community to an affiliated master tenant responsible for collecting rent and operating the property, with sponsor affiliate Capital Square Living handling day-to-day operations.[2] No executed lease terms or the master tenant's legal name were located in public sources; the master lease itself is the document to read.
How is the property financed?
With mortgage debt rather than all cash. Baker 1031 reports a $33,405,000 nonrecourse Freddie Mac loan arranged through Walker & Dunlop, fixed at 5.04%, interest-only for eight years and then amortizing on a 30-year schedule, with a stated maturity of June 1, 2036 and an offering loan-to-value of 44.39%.[2] Those are sponsor- and distributor-reported terms; the loan documents and the PPM control.
What is known about occupancy and rents?
Baker 1031 reports the community was approximately 87% occupied as of May 8, 2026, with in-place contract rent of $2,721 per unit on that date.[2] Those are dated snapshots of a community completed in 2024, not a stabilized operating history. The sponsor also publishes a stabilized occupancy assumption, which is an underwriting projection rather than a reported result and is not restated here.
Has the raise moved since the SEC filing?
Apparently yes. The Trust has one filing on record, a Form D new notice dated June 15, 2026 — the notice an issuer files at or near the start of a private placement — and the sales figures on this page come from that filing and are only as current as it is.[5] Separately, third-party distributor Baker 1031 showed the offering as Available with $34,427,462 of equity available, or 82.3% of total equity, on a page dated August 11, 2026.[2] That is a third-party figure, not an SEC filing; for today's availability, ask the sponsor or your broker-dealer.
Chapter 9Capital Square Launches $41.85M DST Backed by Orlando-Area Townhome CommunityTrade-press coverage of the CS1031 Cacema Townhomes, DST launch, noting the 176-unit three- and four-bedroom townhome community, attached garages and 5.04% rate lock.