Top1031

Lakeside on Riverwatch Apartments

Multifamily property in Martinez, GA · sponsored by Capital Square

HistoricalLast Form D filed Aug 22, 2022 (opens in a new tab)

Lakeside on Riverwatch Apartments was a DST sponsored by Capital Square that owned a multifamily property in Martinez, GA (200 units). Its last Form D was filed Aug 22, 2022.

How it ended

No outcome recorded · under 7 years

The record lists the offering as fully subscribed; the last Form D was filed Aug 22, 2022.

Capital Square has 5 active offerings on record →

Key facts

Minimum investment
$50,000
From the Form D
Offering size
$26,800,000
Equity offered, per the Form D
Sold
Not reported after the first Form D (Aug 22, 2022)
Form D, Aug 22, 2022
Selling commissions
$2,278,000 · 8.5% of offering
Form D Item 15; the % is our arithmetic
Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
How it is financed ↓
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.

Ask a 1031 specialist about this recordFree. About: Lakeside on Riverwatch Apartments. Top1031 is not a broker-dealer.
Lakeside on Riverwatch Apartments image

Lakeside on Riverwatch Apartments · Martinez, GA · Photo: resource.rentcafe.com

What did the Trust own?

Built in 2000 as Wedgewood Park, the community was rebranded Lakeside on Riverwatch in 2017. 1 It stands at 4300 River Watch Parkway in Martinez, Georgia, in the Augusta metro, with one-, two- and three-bedroom homes averaging 1,109 square feet. 2 The Augusta Chronicle reported the property sold for $38.2 million on August 10, 2022. 1 Before the sale, the seller had renovated 95% of the apartment homes, including appliances, resurfaced countertops and faux-wood vinyl flooring. 2

Reported location
Martinez, GA
Property size
200 units; 19.28 acres

How was it financed, and what did it cost to sell?

Public sources do not identify a lender, loan balance or leverage level for this Trust; the Form D covers the equity offering only. The purchase price the Augusta Chronicle reported for the property was $38.2 million. 1

Debt

Financing
Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.

Costs and terms from the Form D

Selling commissions
$2,278,000 · 8.5% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$995,910 · 3.7% of offering
Form D Item 16
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
Minimum investment
$50,000

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.

What does the SEC record show?

One Form D — the short notice an issuer files with the SEC when it begins selling under a private-placement exemption — is the entire SEC record here, and no amendment ever followed to update the raise. Capital Square reported the completed subscription itself in May 2023. 4

Legal Trust name
CS1031 Lakeside on Riverwatch, DST
SEC CIK
1943540
First Form D
Aug 22, 2022
Latest Form D
Aug 22, 2022
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$26,800,000
$0
EDGAR

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

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.

Common questions

What happened to Lakeside on Riverwatch Apartments?
Lakeside on Riverwatch Apartments is a Historical offering. The record lists the offering as fully subscribed; the last Form D was filed Aug 22, 2022.
Why doesn't the SEC data show the completed raise?
The only Form D on record was filed at the start of the offering, and Capital Square never filed an amendment, so the SEC figures still reflect the offering as first reported rather than its outcome. The completed result comes from the sponsor's own May 9, 2023 announcement of full subscription.
What did Capital Square pay for the property?
The Augusta Chronicle reported that the buyer entity, CS1031 Lakeside on Riverwatch Apartments, DST, acquired the roughly 19.2-acre property for $38.2 million on August 10, 2022. Capital Square announced the acquisition publicly on September 21, 2022.
Is there a mortgage on the property?
Nothing in the public record answers that. No lender, loan amount, interest rate, maturity or leverage figure for this Trust appears in the SEC filing, sponsor announcements or press coverage reviewed through August 2026. An investor would look to the offering documents for the debt terms.
Who runs the apartments day to day?
At the time of the 2022 sale, the Augusta Chronicle reported no management change and identified BH Management Services as the property manager. The community's current resident-facing website identifies Capital Square Living LLC, a sponsor affiliate.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

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 offering documents before investing.