FarmHaus Apartments
Multifamily property in Madison, AL — sponsored by Capital Square
Files with the SEC as CS1031 FarmHaus Apartments, DST
Minimum investment
$50k
Offering size
$55.9M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Madison, AL
Financing
Leveraged. This offering reports mortgage debt on the property.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
FarmHaus Apartments is a Class A garden-style apartment community in Madison, Alabama, outside Huntsville, held in a Delaware statutory trust — a structure that lets 1031 exchangers own fractional interests in real estate. Capital Square announced the acquisition on November 1, 2022, then announced on August 28, 2023 that the offering was fully subscribed, so it is closed to new investors.2
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These links support the historical public record; 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?
Capital Square announced on November 1, 2022 that it had completed the acquisition of FarmHaus, a Class A garden-style community on a 22-acre site at 1260 Balch Road in Madison, Alabama, a suburb of Huntsville.1 The one-, two- and three-bedroom apartments average roughly 973 square feet, and the community includes a resort-style pool, fitness and business centers, a dog park and a pet spa.1
- Reported location
- Madison, AL
- Property size
- 324 units
Who is the tenant, and what's the lease?
There is no single corporate tenant here. Income comes from many individual, short-term residential leases that turn over continuously rather than from one long-term contract. The public materials reviewed did not disclose the master lease terms between the Trust and its operating tenant.
How did it end?
No sale or other ending on record
No public full-cycle announcement or property sale was found for CS1031 FarmHaus Apartments, DST (CIK 1951882); the FarmHaus Apartments community in Madison, AL continues to operate and be managed by Capital Square Living (capitalsq.com).
Class A garden-style multifamily community acquired Nov 1, 2022 for $55.9M DST raise (~$55.9M equity). Encumbered by Fannie Mae fixed-rate loan at 4.50% (~200 bps below then-market rates). 22-acre site; resort-style pool, fitness center, business center, dog park, pet spa; ~973 sq ft avg unit size. DST fully subscribed Aug 28, 2023.
324 unitsSupporting evidence
How is it financed, and what does it pay?
The Trust is leveraged. It carries a fixed-rate Fannie Mae loan taken on at acquisition — agency mortgage debt whose rate is locked for the loan term rather than floating with the market — and investor equity sits behind that mortgage.
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Who's behind it?
Capital Square Realty Advisors, LLC sponsors this Trust as part of its recurring 1031 exchange program of separately filed Delaware statutory trusts. On March 14, 2024, Capital Square Living, the sponsor's wholly owned multifamily property-management subsidiary, announced that it had assumed management of FarmHaus Apartments.3 That same announcement identified the property as owned by a Capital Square-sponsored Delaware statutory trust.3
- Sponsor
- Capital Square
- Legal Trust name
- CS1031 FarmHaus Apartments, 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 file for this Trust is a single Form D with no amendments, so EDGAR's sales fields still reflect the offering at its start rather than its completed raise; the sponsor's own August 2023 announcement records the close.2 Rule 506(c) permits public marketing so long as every buyer is a verified accredited investor.
- 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
What happened to FarmHaus Apartments?
Top1031 lists FarmHaus Apartments as historical. It is no longer raising money.
Where does Top1031 get the data for FarmHaus Apartments?
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.
Can I still invest in FarmHaus Apartments DST?
No. Capital Square announced on August 28, 2023 that the CS1031 FarmHaus Apartments, DST offering was fully subscribed. The Trust is closed to new investors, and any interest would have to be acquired in a secondary transaction, which DST documents typically restrict.
Where exactly is the property?
FarmHaus Apartments sits at 1260 Balch Road in Madison, Alabama, a suburb of Huntsville. Capital Square's November 1, 2022 acquisition announcement describes a 22-acre site with one-, two- and three-bedroom apartments averaging about 973 square feet.
Why does the SEC record not show a completed raise?
The Trust filed one Form D, on October 26, 2022, and never amended it. A Form D captures the offering as of its filing date, and sponsors are not required to file a final amendment showing the closing tally. Capital Square's own August 28, 2023 press release, not EDGAR, is what reports the offering as fully subscribed.
Who runs the property day to day?
Capital Square Living, the sponsor's wholly owned multifamily property-management subsidiary, announced on March 14, 2024 that it had assumed management of FarmHaus Apartments. Before that date, management was handled by another party not identified in the materials reviewed.
Is there a 721/UPREIT exit path?
The record does not indicate one. A 721 or UPREIT exit is a structure in which trust investors contribute their property interest to a REIT's operating partnership in exchange for OP units instead of receiving cash. This Trust is not flagged as convertible to a REIT.
Is the property still operating?
Yes. The community's official leasing website, farmhausliving.com, was actively marketing one-, two- and three-bedroom apartments as of August 27, 2026. That reflects marketing availability only and is not a measurement of occupancy, which was not publicly disclosed.
Chapter 9Capital Square Fully Subscribes DST Offering of Multifamily Community Near Huntsville, AlabamaPress release confirming CS1031 FarmHaus Apartments, DST was fully subscribed, raising approximately $55.9M in equity from accredited investors. Capital Square Fully Subscribes $56 Million Alabama DST OfferingTrade-press report that CS1031 FarmHaus Apartments, DST fully subscribed, raising ~$55.9M; mentions Fannie Mae loan at 4.50% fixed. Capital Square Completes Acquisition of 324-Unit FarmHaus Apartment Community Located in Huntsville Suburb of Madison, AlabamaPress release announcing the $55.9M DST acquisition of FarmHaus Apartments, a 324-unit Class A community at 1260 Balch Road in Madison, AL, with a Fannie Mae fixed-rate loan. Capital Square Acquires Multifamily Community in Alabama for DST OfferingTrade-press coverage of Capital Square's acquisition of FarmHaus Apartments on behalf of CS1031 FarmHaus Apartments, DST, raising approximately $55.9M.