Rivergate Apartments
Luxury multifamily property in Woodbridge, VA · sponsored by Capital Square
Historical · soldSold Oct 2024, as reported by Capital Square · last Form D Jul 29, 2022Sponsor source (opens in a new tab)
Rivergate Apartments was a DST sponsored by Capital Square that owned a luxury multifamily property in Woodbridge, VA (402 units). Capital Square sold the property in Oct 2024 for $55,700,000, as reported by the sponsor.
How it ended
Sold, result reported by the sponsor
Sold Oct 2024 for $55,700,000 as reported by the sponsor
- Equity multiple
- 1.36× as reported by the sponsor
- Date
- Oct 1, 2024
- Held
- 4.1 years
Key facts
- Minimum investment
- $50,000From the Form D
- Offering size
- $46,500,000Equity offered, per the Form D
- Sold
- Not reported after the first Form D (Jul 29, 2022)Form D, Jul 29, 2022
- Selling commissions
- Form D Item 15; the % is our arithmetic$3,952,500 · 8.5% of offering
- Financing
- Leveraged. This offering reports mortgage debt on the property.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 →
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Ask a 1031 specialist about this recordFree. About: Rivergate Apartments. Top1031 is not a broker-dealer.Rivergate Apartments · Woodbridge, VA · Photo: capitalsq.com
What did Rivergate Apartments own?
Rivergate is a luxury apartment community at 13175 Marina Way in Woodbridge, Virginia. 2 Multi-Housing News reported that Capital Square bought the property from The Shidler Group for $98.5 million on August 22, 2022, and put occupancy at 95.8 percent around that time. 3 Neither the filing nor the sponsor's public materials state the year the community was built.
- Reported location
- Woodbridge, VA
- Property size
- 402 units
How was it financed, and what did it cost to sell?
Capital Square describes the property as carrying assumable debt, which the sponsor characterizes as below-market, maturing in 2034. 2 Assumable debt means the buyer takes over a loan already in place rather than sourcing a new one. The principal balance is not stated in the sponsor's public materials or in the Form D.
Debt
- Financing
- Leveraged. This offering reports mortgage debt on the property.
Costs and terms from the Form D
- Selling commissions
- $3,952,500 · 8.5% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $2,645,480 · 5.6% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 1 named in the Form D
Show the firms
- Wealthforge Securities, LLC · CRD 152550
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.
Who's behind Rivergate Apartments?
Capital Square is a Glen Allen, Virginia sponsor of 1031 exchange programs; the Form D gives its address as 10900 Nuckols Road, Suite 200. 1 That filing names Capital Square Realty Advisors, LLC as a promoter, CSRA Manager, LLC as director and promoter, and Louis Rogers as an executive officer and promoter. 1
- Sponsor
- Offerings on record
What does the SEC record show?
Capital Square filed a single Form D for this Trust and no amendment has followed, so the public file carries no later update on how the raise progressed. Rule 506(c) permits general solicitation — public advertising of the offering — as long as every purchaser is a verified accredited investor.
- Legal Trust name
- CS1031 Rivergate Apartments, DST
- SEC CIK
- 1940417
- First Form D
- Jul 29, 2022
- Latest Form D
- Jul 29, 2022
- Filings on record
- 1
- Offered under
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Filing on SEC EDGAR |
|---|---|---|---|---|
| Form D | $46,500,000 | $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 Rivergate Apartments?
- Rivergate Apartments is a Historical offering. Sold Oct 2024, as reported by Capital Square.
- What property does this Trust own?
- Rivergate, a luxury apartment community at 13175 Marina Way in Woodbridge, Virginia, as described by sponsor Capital Square. Multi-Housing News reported the 402-unit property was purchased from The Shidler Group for $98.5 million on August 22, 2022, with occupancy of 95.8 percent reported at that time.
- What was the minimum investment?
- The Form D reports a minimum outside investment of $50,000, and Capital Square's August 22, 2022 announcement stated the same $50,000 minimum for accredited investors — individuals or entities meeting SEC income or net-worth thresholds.
- Who actually runs the apartments day to day?
- Capital Square states that a Master Tenant leases the property and is responsible for collecting rent and for operating, managing, leasing, and maintaining it. The sponsor also states the Master Tenant is capitalized solely by cash flow from the underlying tenant lease and that the sponsor is not obligated to contribute capital to it.
- Does this Trust have a 721/UPREIT exit?
- The record does not indicate a 721 exchange or UPREIT conversion feature — that is, a path where beneficial interests are later contributed to a REIT's operating partnership in exchange for units. Exit mechanics for any DST are governed by the offering documents.
- What does the ground lease mean for an investor?
- Capital Square states the property is subject to a ground lease, meaning the Trust's interest is tied to a lease of the underlying land rather than outright land ownership. The lease's term, rent escalations, and renewal rights are not disclosed in the public record and would appear in the offering documents.
In the news
Sources
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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.