Capital Square Expands Multifamily Footprint with Strategic Seaboard at Sidbury Station Acquisition

Capital Square has solidified its position as a major player in the multifamily community space with the acquisition of Seaboard at Sidbury Station, marking a significant expansion of its build-for-rent (BFR) strategy. This newly constructed 113-unit community in Castle Hayne, North Carolina represents more than just another property in Capital Square’s portfolio; it embodies a forward-thinking approach to addressing the housing needs in high-growth regions.

With this purchase, Capital Square brings its expertise in tax-advantaged real estate investments to the Wilmington suburb, offering accredited investors a stake in the thriving CS1031 Sidbury Station BFR Housing, DST. The acquisition is part of a broader vision that recognizes the nuanced demands of housing markets, especially in Sunbelt regions where economic and demographic indicators align with Capital Square’s investment strategy.

Co-chief investment officers, Dave Platter and Jon Trott, have been pivotal in identifying opportunities that appeal not only to investors but also to future residents. In an era where home affordability poses significant challenges, Capital Square’s offerings at Sidbury Station meet an acute need.

Louis Rogers, founder and co-chief executive officer of Capital Square, astutely observes, “Capital Square’s investors are attracted to newly constructed BFR communities such as Sidbury Station because demand is strong from residents who want a single-family home but can’t afford to own. Capital Square’s BFR communities help to satisfy the demand for a single-family home with amenities at an affordable price.”

Indeed, the luxurious amenities and modern accommodations at Sidbury Station, ranging from high-end finishes to smart home technology, provide an enticing alternative to traditional homeownership. The sense of community fostered by the Wilmington area, with its economic vitality, quality of life benefits, and robust infrastructure, makes projects like Sidbury Station particularly compelling.

Highlighting the economic dynamism of the area, co-chief executive officer Whitson Huffman explains, “Wilmington has experienced a 30% growth in jobs since 2020, led by healthcare, government, and education, while the population is expected to grow by approximately 3% annually.” Capital Square’s strategic investments demonstrate an acute awareness of local market conditions and the foresight to capitalize on limited supply to drive both occupancy and rental growth.

Sidbury Station stands out for reaching 95% occupancy shortly post-completion – a testament to the robust demand and Capital Square’s adept management. This acquisition isn’t merely a transaction; it’s an illustration of effective synergy between market intelligence, investor confidence, and community building. Through such endeavors, Capital Square continues to redefine the parameters of the multifamily apartment industry, showcasing leadership that identifies and maximizes growth opportunities in a rapidly evolving real estate landscape.