Capital Square 1031 has acquired a 223-unit multifamily community in Old Towne Petersburg.
Mayton Transfer Lofts, located at 250-316 East Bank St., was built in 1911 and formerly was a warehouse and moving storage facility. In 2008 and 2012 the property was transformed into Class A apartment building that features historic elements from its original construction, including exposed brick, hardwood and concrete floors, high ceilings and original beams.
The community, which is located on 4.66 acres, includes 16 studio apartments, 152 one-bedroom, one-bathroom apartments, 46 two-bedroom, one-bathroom apartments, four two-bedroom, two-bathroom apartments and five two-story townhouse units. It was developed by Dave McCormack of Plum Street Partners, which will continue to manage the property.
