RICHMOND, VA. — Capital Square has sold 2000 West Creek, a 373-unit apartment community in Richmond, for $115 million. The locally based company purchased the property in 2019 in a Delaware statutory trust program (DST) for $103 million, giving the trust’s 115 exchange investors a 137 percent total return and more than $17.5 million in distributions during Capital Square’s seven-year hold period. Will Mathews, Thomas Leachman and William Dickinson of Colliers represented the undisclosed seller in the transaction.
2000 West Creek sits on 23 acres and offers one- and two-bedroom apartments and townhomes ranging in size from 774 to 1,246 square feet. Amenities include reserved and garage parking, rentable storage units, bike storage, a coffee bar, conference and meeting rooms, a community lounge and clubhouse, heated saltwater swimming pool, firepit, grilling stations, package and storage system, gift wrapping station, fitness center, dog park and pet spa, media lounge, billiards/game room and a convenience center.