Hunter's Chase Apartments
Multifamily (Class B garden-style apartment community) property in Midlothian, Virginia — sponsored by Capital Square
Files with the SEC as CS1031 Hunter's Chase Apartments, DST
Minimum investment
$50k
Offering size
$48.2M
How much has sold
None sold yet
Asset type
Multifamily (Class B garden-style apartment community) property
Location
Midlothian, Virginia
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
Hunter's Chase Apartments is a 320-unit Class B garden-style apartment community in Midlothian, Virginia, a Richmond suburb, held in a Delaware statutory trust (DST) — a structure that lets 1031 exchange investors own fractional interests in real estate. Capital Square sponsored the offering and announced on June 13, 2023 that it was fully subscribed; the Trust is closed to new investors.1
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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 June 16, 2022 that it was buying the Midlothian community on behalf of a Delaware statutory trust offering, calling it its twelfth multifamily purchase near Richmond.2 The garden-style property occupies 24.7 acres with one-, two- and three-bedroom layouts.2 Capital Square describes the asset as Class B and says it benefits from $7 million in recent capital improvements.3
- Property address
- 5200 Hunt Master Drive, Midlothian, Virginia
- Property size
- 320 units; units averaging 816 square feet
Who is the tenant, and what's the lease?
Apartment residents lease individual units on short terms, so there is no single credit tenant behind the income. Capital Square's offering page states that a master tenant — capitalized solely by cash flow from the underlying lease — collects rent and operates, manages, leases and maintains the property, and that beneficial owners must rely on it.3
How did it end?
No sale or other ending on record
No public full-cycle or sale announcement was found for CS1031 Hunter's Chase Apartments, DST (CIK 1934406); the 320-unit Midlothian, VA apartment community is actively operated by Capital Square Living LLC in 2026 (per property website footer).
320-unit Class B garden-style apartment community on 24.7 acres; one-, two-, and three-bedroom layouts averaging ~816 sq ft; ~$48.2 million fully subscribed in June 2023 per Capital Square coverage; ~$7 million in recent capital improvements cited on the offering page.
320 units; units averaging 816 square feetSupporting evidence
How is it financed, and what does it pay?
The Form D and the reviewed sponsor materials do not state a loan amount, lender, interest rate, or whether the Trust carries debt at all, so the capital structure is not established in the public record.
Who's behind it?
Capital Square sponsors Delaware statutory trust offerings for 1031 exchange investors and has been a repeat buyer of apartment communities in the Richmond, Virginia market.2 The Form D names Capital Square Realty Advisors, LLC as promoter, CSRA Manager, LLC as director and promoter, and Louis Rogers as executive officer.4 Capital Square's portfolio page lists Hunter's Chase Apartments, DST as closed.5
- Sponsor
- Capital Square
- Legal Trust name
- CS1031 Hunter's Chase 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 Trust's notice was filed under Rule 506(c), which lets a sponsor advertise an offering publicly but requires each buyer's accredited-investor status to be verified. No amendment appears in the reviewed EDGAR record, so the filing captures the offering as launched rather than as finally subscribed.
- 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 Hunter's Chase Apartments?
Top1031 lists Hunter's Chase Apartments as historical. It is no longer raising money.
Where does Top1031 get the data for Hunter's Chase 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 Hunter's Chase Apartments, DST?
No. Capital Square announced on June 13, 2023 that the CS1031 Hunter's Chase Apartments, DST offering was fully subscribed by accredited investors, and the sponsor's portfolio page lists the Trust as closed. It is a historical offering, shown here as a record of what was sold, not something available today.
Why doesn't the SEC filing reflect that the offering sold out?
Only one Form D is on record, filed June 17, 2022 when the offering launched, and no amendment was located in the reviewed EDGAR record. A Form D reports subscription figures as of its filing date, so a launch-date notice that is never amended will not show a later sellout. Capital Square's own June 13, 2023 announcement is the source for full subscription.
What does it mean that this is a DST?
A Delaware statutory trust holds title to the property and sells beneficial interests to investors. The IRS treats those interests as like-kind real property, so a 1031 exchange investor can roll sale proceeds into one without recognizing gain. In exchange, investors are passive: the trustee and sponsor make all operating and disposition decisions.
Who runs the apartments day to day?
Capital Square's offering page describes a master tenant structure in which the master tenant collects rent and operates, manages, leases and maintains the property, funded solely by cash flow from the underlying lease. Beneficial owners depend on that entity's performance. The reviewed materials do not name the master tenant entity or state its lease term.
What was the minimum investment?
The June 17, 2022 Form D reported a $50,000 minimum outside investment for the offering.[4] The same filing reported estimated sales commissions of $4,097,000 and other offering expenses of $2,040,370.[4] Those are figures the issuer reported at launch; the PPM governs actual terms.
Does this Trust convert into a REIT?
The data on record shows no 721/UPREIT exit — the path some sponsors use to swap DST interests for operating partnership units in an affiliated REIT. Nothing in the reviewed filings or sponsor materials indicates that route for this Trust.
Chapter 9Capital Square Fully Subscribes DST Offering of Multifamily Community Near Richmond, VirginiaCapital Square announced that its 320-unit Hunter's Chase DST offering near Richmond had been fully subscribed and had raised ~$48.2 million from accredited investors.