Capital Square 1031 Acquires Manufactured Housing Community in Coastal Florida

ORMOND BEACH, Fla. — Capital Square 1031 has acquired The Falls, a 599-homesite manufactured housing community for seniors in Ormond Beach, just north of Daytona on Florida’s Atlantic Coast.

“This is Capital Square’s fifth and largest manufactured housing community acquisition to date, closing out a record-breaking year despite the COVID pandemic,” says Louis Rogers, founder and chief executive officer. “Capital Square is bullish on manufactured housing communities in Florida, which are among the most desirable assets in the nation due to high occupancy, increasing rental rates, low operating costs and scarcity of quality communities.

“The acquisition of The Falls brings us closer to Capital Square’s goal of assembling a large portfolio of manufactured housing communities in coastal Florida markets to provide Section 1031 exchange and other investors with stable cash flow and the potential for substantial capital appreciation.”

The community is situated on approximately 141 acres of land and has maintained 100 percent occupancy for more than a decade.