Capital Square 1031 has launched a new investment program to expand its manufactured housing community portfolio. The company plans to acquire four- and five-star, 55+ communities in coastal Florida markets, with the aim of generating capital appreciation for 1031 exchange investors across the nation.
According to Louis Rogers, founder & CEO of Capital Square, higher-end manufactured homes in Florida are in short supply, due to restrictions in developing new communities or adapting existing ones to other uses. The CEO announced his company plans to add improvements to the communities, including docks and boat access. Usually, these properties already have several high-quality features including granite countertops, wood flooring and built-in car ports.
Founded in 2012, Capital Square has been focusing on multifamily and healthcare properties under the 1031/DST program. The company selected Florida for its manufactured housing investment program due to the state’s lack of income tax, favorable climate and existing infrastructure that benefits the needs of retirees.