Capital Square, a sponsor of tax-advantaged real estate investments and a national developer and manager of housing communities, announced that its regulation D private placement offering, CS1031 The Villages at Miami Gardens BFR Housing, Delaware Statutory Trust (DST), has been fully subscribed.
Capital Square raised equity from investors participating in the offering of a 50-unit build-for-rent (BFR) townhome community in the Miami suburb of Miami Gardens, Florida. The property was acquired in October 2025, and the offering was fully subscribed in fewer than three months.
“The Miami Gardens submarket has a shortage of available housing, effectively driving occupancy to 100%. In addition, the Miami MSA is one of the least affordable home ownership markets in the U.S., driving the demand for rental housing,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “This offering combined the desirability of housing, a necessity, with short supply driving demand. Capital Square specializes in locating submarkets like this with exceptional cash flow and profit potential.”
Located at 3400 NW 191st Street, the 100 percent occupied community features three- and four-bedroom townhomes with high-end finishes, including porcelain and vinyl flooring, stainless steel appliances, in-unit, stackable washer and dryer, white quartz countertops, European cabinetry, central air conditioning and recessed lighting. Each concrete-poured home also includes 8.5-foot ceilings, a private balcony, fenced backyard and two-car driveway, with additional street parking available.
The property is approximately two miles from Florida’s Turnpike and three miles from the Golden Glades Tri-Rail Station, providing convenient regional access. It is also located two miles from Hard Rock Stadium–home to the Miami Dolphins, University of Miami Hurricanes, Formula 1 racing and the Miami Open Tennis tournament–and one mile from Miami Gardens City Center, a $400 million, 35-acre mixed-use development and retail destination currently under construction.
In addition, the property is within a 25-minute drive of more than 935,000 jobs across major employment centers, with particular concentration in the healthcare and higher education sectors. Notable employers include Baptist Health, University of Miami, Jackson Health System and American Airlines.
“The Villages at Miami Gardens benefits from sustained demand in a submarket with limited recent deliveries, making it a compelling investment property,” said Whitson Huffman, co-chief executive officer. “Miami Gardens’ growing population, strategic location and ongoing reinvestment have strengthened its position as a desirable destination for residents and businesses. By expanding our presence in South Florida with a community of this quality, Capital Square continues to provide investors with access to markets with strong fundamentals and the potential for long-term performance.”
According to a 2025 Scout Report, the Miami metro population has grown 9.5% over the past decade, making it one of the fastest-growing large markets in the U.S. Yardi reports that since 2020, the region has attracted $4.6 billion in foreign investment and more than 50 corporate relocations, led by $1.5 billion in real estate and $1.3 billion in hotels and tourism.
Since 2022, Capital Square has launched 13 build-for-rent offerings totaling 1,684 units across seven states and 11 cities. The portfolio, including development offerings, represents a gross asset value of approximately $573.7 million.
Founded in 2012, Capital Square has acquired more than 175 real estate assets on behalf of over 6,500 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code, along with others seeking stable cash flow and capital appreciation.
