A Glen Allen, Virginia, real estate investor purchased the 100-unit Brighton Woodstock build-for-rent townhome community in Acworth on behalf of one of its funds.
Brighton Woodstock is a newly built community located at 5900 Woodstock Road, which is approximately five miles from Kennesaw State University.
The single-family townhomes feature open floor plans averaging 1,480 square feet with designer features and finishes, gourmet island kitchens, attached garages, private patios and in-unit washer and dryers. Community amenities include a picnic and activity lawn, firepit and grilling area, kids park and playground, dog park and walking trail. Mobile car detailing, valet dry cleaning and housekeeping services are available.
The buyer, Capital Square, purchased the property on behalf of its CS1031 Brighton Woodstock BFR Housing DST fund, which seeks to raise $22.5 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“Brighton Woodstock is in the heart of one of the nation’s fastest-growing regions and in Atlanta’s affluent Cherokee County submarket, which has experienced average rent growth of 9.6% for the past five years,” co-CEO Whitson Huffman said in a press release. “This property is particularly appealing from an investment perspective due to its location in Atlanta’s least-supplied north suburban market, which enjoys the most attractive rent-growth projections in the metropolitan region.”
Since its founding in 2012, Capital Square has acquired 167 real estate assets for over 6,000 investors.