CX Lullwater at Blair Stone, DST
1031 Exchange/DST
Located in the desirable southeast suburb of Tallahassee, Florida, Lullwater at Blair Stone is a 244-unit garden-style multifamily apartment complex with modern amenities and finishes. The Property was built in 2020, and includes 13 residential apartment buildings situated on 26.23 acres. The unit mix includes 96 one-bedroom units, 112 two-bedroom units and 36 three-bedroom units. Community amenities include a 10+ acre nature preserve on site, bark park, resort-style swimming pool, state-of-the-art fitness center, poolside outdoor kitchen and fireplace, clubhouse with resident lounge, cyber cafe, fire pit, laundry facility, car care center, business center, attached and detached garages, and package acceptance.
As a capital city and a vibrant college town, Tallahassee attracts the highest percentage of Floridians moving to a new metropolitan area within their state as compared to any other Florida metropolitan area. Annual population growth in a 10-mile radius around the Property has been steady at 0.8%. Median household income grew at 2.9% annually since 2000, keeping pace with the state. The average unemployment rate over the last economic cycle since 2008 was 5.7%, among the lowest of Florida’s 22 metro areas.*
With a base of over 43,000 full-time students, Florida State University, Florida A&M, and Tallahassee Community College graduates form a highly-educated population. In fact, Tallahassee is the most educated metropolitan area in Florida20, with 40.1% of adults holding a bachelor’s degree or higher, far exceeding the state (29.2%) and national (31.5%) averages.**
*U.S. Census Bureau, American Community Survey, Metro Area-to-Metro Area Migration Flows: 2014-2018 – SitesUSA, Complete Profile, 2000-2010 Census, 2020 Estimates with 2025 Projections: Tallahassee; Florida; and USA SitesUSA, Complete Profile, 2000-2010 Census, 2020 Estimates with 2025 Projections: 1- and 5-mile radius from 3501 N. Blair Stone Rd., Tallahassee FL
**U.S. Census Bureau, Florida & United States Quick Facts, 2014-2018 Estimate Government Employment as a Percentage of Nonfarm Wage and Salary Employment, Apr 2020, TLH, MSA, U.S. Bureau of Labor Statistics Environmental Systems Research Institute, Table: Employment by Industry, from CBRE Property Appraisal, p.30
There are risks associated with participating in the offering. An investment in the Trust is speculative and illiquid, and involves significant risks, including the possibility of losing all invested capital. This material does not constitute an offer to buy or sell any securities and is authorized for use only when accompanied by the Confidential Private Placement Memorandum of CX Lullwater at Blair Stone, DST (the “Memorandum”). Reference is made to the Memorandum for a statement of risks and terms of the CX Lullwater at Blair Stone, DST offering and qualifications and assumptions regarding forward-looking information. The information set forth herein is qualified in its entirety by the Memorandum. No person will be permitted to invest without acknowledging that they received the memorandum and completed their review including, but not limited to, the risk factors contained therein. Securities are being offered through Orchard Securities, LLC, member FINRA/SIPC. Orchard Securities and Carter Exchange are not affiliated
Company
Carter Exchange
Location
Tallahassee, FL
Overview
Located in Tallahassee, FL, Lullwater at Blair Stone consists of 244 apartment homes with 1-, 2-, and 3-bedroom floorplans. The property is centrally located and provides convenient access to major employers, the seat of state government, and a vibrant, historical downtown.
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