Capital Square Annual Equity Raise Numbers Jump 20% to $1B in 2022
Glen Allen, VA-based Capital Square, a sponsor of tax-advantaged real estate investments and a developer of multifamily communities, in 2022 acquired more than $2.3 billion in real estate and raised more than $1 billion in equity for its investment programs.
Capital Square’s annual equity raise of over $1 billion was a new record for the firm and an approximately 20% increase over 2021. As of year-end 2022, Capital Square had sponsored 135 investment offerings comprised of 166 individual properties for the firm’s DST programs, qualified opportunity zone funds and real estate investment trust.
“Capital Square also took five Delaware statutory offerings full cycle resulting in an average 170.24% total return to investors,” added Louis Rogers, founder and co-CEO of Capital Square. “In addition, the firm’s development team continued the construction of seven new apartment communities, totaling over 1,020 units, in spite of unprecedented inflation, interest rate volatility and shortages of labor and material.”
At year end, Capital Square’s real estate portfolio totaled 55 multifamily, 14 manufactured housing and 71 commercial assets with an aggregate occupancy of 95.5%. Multifamily properties realized gross rent collections of over 98% per month and gross rent collections among its commercial portfolio exceeded 99% per month throughout 2022.
The firm also launched a new build-for-rent division that focuses on single-family build-for-rent home acquisitions and development opportunities.
In keeping with the company’s ongoing commitment to building a better future, Capital Square initiated “Capital Square Cares” in 2022 to spearhead the firm’s growing charitable endeavors. Support in 2022 was made to the Multiple Sclerosis Society, Children’s Hospital of Richmond at VCU, the March of Dimes and others.
Photo: Tapestry West in Richmond, VA
- ◦Financing