Constructed in 2019, Residence at Riverwatch is a 260-unit, gated multifamily community in Augusta, Georgia. <\/p>\n\n\n\n
The property\u2019s location along the Augusta Canal differentiates it from all competitors in the market. The multifamily community consists of seven, four-story residential buildings, each with an elevator. Select units have panoramic views of the Augusta Canal and the Savannah River. The property has top-of-the-market interior finishes, including: granite countertops; stainless steel kitchen appliances; 10-foot or 12-foot ceiling heights; large kitchen islands with undermounted kitchen sinks; kitchen backsplashes; faux wood flooring in common areas; either a patio or balcony and washer and dryer appliances. The property successfully completed its lease-up and has continued to perform well since stabilization. There has been no unresolved delinquency related to the economic impacts of COVID-19.<\/p>\n\n\n\n
The property has a waiting list of approximately 20 prospective residents. Units with tenants that have provided a notice to vacate upon lease expiration are almost completely pre-leased and at higher rents. The average rent increase was $135, or 9.8%, on the nine new leases signed in May compared to the previous lease rent. The property is located in a newly developed mixed-use community called Village at Riverwatch, which features Costco, Cabela\u2019s, Riverwatch Cinemas and office space for Comcast and Delta Air Lines. A TopGolf location was recently developed in the community, and opened July 3, 2020. The location provides convenient access to all major local employers. Residence at Riverwatch is located directly off of Riverwatch Parkway, putting residents seven minutes from downtown. The property is minutes from the interchange for Interstate 20, providing access throughout Augusta as well as the Southeastern United States. The drive time on Interstate 20 to Atlanta, Georgia and Columbia, South Carolina is only two to three hours.<\/p>\n\n
Securities offered through WealthForge Securities, LLC, the managing broker-dealer for the CS1031 Residence at Riverwatch Apartments, DST offering and member FINRA\/SIPC. Capital Square and WealthForge are not affiliated.<\/p>\n\n
Consider the Risks: An investment in the Interests involves substantial investment and tax risks, including, without limitation, the following risks:<\/p>\n\n
Constructed in 2019, Residence at Riverwatch is a 260-unit, gated multifamily community in Augusta, Georgia. The property\u2019s location along the Augusta Canal differentiates it from all competitors in the market.<\/p>\n","protected":false},"featured_media":3211,"template":"","meta":{"featured_image_background_position":"","code":"CS1031","address":"205 River Place\nAugusta GA 30909","city":"Augusta","state":"GA","zip_code":"","details":"","status":"Closed","acquisition-date":"2020-07-20","address-full":"","lat":33.5227992,"lng":-82.0151117,"footnotes":""},"tags":[],"service":[104,106],"investment":[48],"class_list":["post-2243","location","type-location","status-publish","has-post-thumbnail","hentry","service-invest","service-manage","investment-1031-exchange-dst"],"yoast_head":"\n