Capital Square Launches $300M Multifamily Institutional Development Fund
Richmond, VA-based Capital Square has launched Capital Square Multifamily Development Fund I, L.P. to raise up to $300 million in equity from institutional investors.
The fund will invest in the limited partner equity portion of the capital stack and will focus on emerging secondary growth markets in the Mid-Atlantic and the Southeast that lack institutional capital investment, such as Richmond, VA, Charleston, SC and Knoxville, TN.
“There is a shortage of quality housing that traces its origin to the Great Real Estate Recession,” said Louis Rogers, founder and CEO of Capital Square. “The shortage was exacerbated by the COVID-19 pandemic that delayed or halted many new developments. To accelerate the development of new Class A institutional-quality multifamily communities, the fund will focus on shovel-ready, ground-up sites. Capital Square is bullish on Class A multifamily investments that generate an unrivaled combination of stable cash flow, appreciation potential and inflation protection.”
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.