Capital Square Sells 2000 West Creek Apartments for $115 Million in Richmond, Completing 47th Full-Cycle DST Program

Capital Square has sold 2000 West Creek Apartments, a 373-unit Class A multifamily community in Richmond, Virginia, for $115 million, completing the firm's 47th full-cycle Delaware statutory trust program and delivering a reported 137% total return to investors, the company announced July 16, 2026.

Colliers arranged the sale of the property, located at 2000 Broad Branch Circle, in what the firm described as one of the largest multifamily transactions in Richmond's history. Capital Square originally acquired the property in October 2019 for $103 million.

Transaction Details and Investor Returns

The offering, structured as CS1031 2000 West Creek Apartments, DST, was a Regulation D private placement that included 115 exchange investors who used Section 1031 of the Internal Revenue Code to defer taxes on prior property sales. Over the nearly seven-year holding period, investors received more than $17.5 million in distributions in addition to the proceeds from the sale.

At $115 million and 373 units, the transaction implies a price of approximately $308,311 per unit and roughly $308 per square foot based on the property's 373,251-square-foot footprint, according to data included in the announcement.

"Nearly seven years ago, Capital Square acquired 2000 West Creek Apartments, a new, highly amenitized Class A multifamily community for its growing DST/1031 exchange program," said Louis Rogers, founder and co-chief executive officer of Capital Square. "Instead of acquiring older, value-add multifamily communities, Capital Square focused on the best multifamily communities in the strongest Sunbelt submarkets to generate stable income and appreciation. The business strategy of buying the best has proven to be successful with the recent sale for $115 million."

Rogers added that many of the 115 exchange investors are structuring another Section 1031 exchange with Capital Square to continue their tax deferral following the sale.

Property Profile and Location

2000 West Creek sits on approximately 23 acres and comprises 357 apartment units and 16 townhome units, with one- and two-bedroom floor plans ranging from 774 to 1,246 square feet. The property is adjacent to West Creek Business Park, which the announcement states serves more than 10,000 employees across 2.1 million square feet of office space. The community is also in proximity to the University of Richmond and Virginia Commonwealth University.

Community amenities include reserved and garage parking, climate-controlled storage units, bike storage, a coffee bar, conference and meeting rooms, a community lounge and clubhouse, a saltwater swimming pool, a firepit and grilling stations, a fitness center, a dog park and pet spa, a media lounge, a billiards and game room, and controlled access.

Colliers Team and Brokerage Role

Colliers, a global diversified professional services and investment management company, represented the seller in the transaction. Will Mathews, vice chair and U.S. Capital Markets Board of Advisors multifamily transaction lead, Thomas Leachman, senior vice president, and William Dickinson, associate, led the Colliers team on the deal.

"Capital Square's disciplined approach to identifying and managing multifamily assets is reflected in the outcome at 2000 West Creek," said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. "Richmond has proven to be a resilient and rewarding market for our investors. We are proud to take this DST full cycle, delivering stable cash flow and appreciation in spite of a challenging investment environment. This full-cycle event reinforces the long-term value of tax-advantaged real estate investing through 1031 exchange programs."

Capital Square's Broader DST Track Record

Since 2018, Capital Square has completed 47 full-cycle DST programs, producing an average total return of 154.70%, according to the firm. The company noted that five additional DST offerings have been taken full-cycle since its last audited track record update as of February 17, 2026, and that averages will be recalculated when the firm's brochure is next updated.

Since its founding in 2012, Capital Square has acquired more than 175 real estate assets on behalf of over 6,500 investors and has completed more than $9.1 billion in transaction volume. The firm's property management division, Capital Square Living, oversees more than 13,000 apartments across multiple states. Its mixed-use development projects total over 2,700 housing units with an aggregate development value exceeding $1 billion.

Sources

Capital Square – CS1031 2000 West Creek Apartments, DST Full-Cycle Announcement (July 16, 2026)