Top1031

Lakeside on Riverwatch Apartments

Multifamily property in Martinez, GA — sponsored by Capital Square

Files with the SEC as CS1031 Lakeside on Riverwatch, DST

Minimum investment
$50k
Offering size
$26.8M
How much has sold
None sold yet
Asset type
Multifamily property
Location
Martinez, GA
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.

Sponsor-reported, from SEC filings and cited sources.

Chapter 1

What is this, in one paragraph?

Lakeside on Riverwatch Apartments is a garden-style apartment community in Martinez, Georgia, near Augusta, acquired by Capital Square in 2022 and packaged as a Delaware statutory trust — fractional property ownership that can serve as replacement property in a 1031 exchange. Capital Square announced on May 9, 2023 that the offering was fully subscribed, so it is closed to new investors.4

Show sources (17)Hide sources (17)

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.

Chapter 2

What exactly is the property?

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
Chapter 3

Who is the tenant, and what's the lease?

This is rental housing, so income comes from resident leases that typically run a year or less rather than one corporate tenant. Capital Square's offering materials state the Master Tenant's capitalization is supported solely by cash flow from the underlying lease, and that the sponsor is not obligated to contribute capital to it.3

Chapter 4

How did it end?

What happened

No sale or other ending on record

As of the August 2026 research check, Capital Square's acquisition disclosure links CS1031 Lakeside on Riverwatch, DST to the exact 200-unit Martinez, GA community, and the Lakeside on Riverwatch website and Zillow continue to advertise renovated apartments with current availability, with no later disposition announcement found [1][2].

The 200-unit garden-style multifamily property was completed in 2000 and sits on approximately 19.28 acres. The 2022 articles described a DST equity target of $26.8 million; the May 2023 coverage reports that the offering raised nearly/almost $26.8 million and was fully subscribed.

200 units; 19.28 acres
Supporting evidence
Chapter 5

How is it financed, and what does it pay?

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

Chapter 7

What does the paperwork say?

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

  1. 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.

Chapter 8

Common questions

What happened to Lakeside on Riverwatch Apartments?

Top1031 lists Lakeside on Riverwatch Apartments as historical. It is no longer raising money.

Where does Top1031 get the data for Lakeside on Riverwatch 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 this Trust?

No. Capital Square announced on May 9, 2023 that CS1031 Lakeside on Riverwatch Apartments, DST was fully subscribed, which closed it to new investors.[4] Interests in a fully subscribed DST are not re-offered; a secondary transfer, if any, would be governed by the trust agreement and the sponsor's consent.

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.[4]

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.[1] 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 private placement memorandum (PPM), the offering's full disclosure document, 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.[1] The community's current resident-facing website identifies Capital Square Living LLC, a sponsor affiliate.[6]

Has the Trust reported a sale or exit?

No outcome has been reported yet. Research through August 25, 2026 found no sale, refinancing, 721/UPREIT exchange (a contribution of the property to a REIT in return for operating-partnership units) or SEC amendment following the 2022 Form D and the 2023 full-subscription announcement.

Chapter 9

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