RICHMOND, Va. (Jan. 15, 2020) – Capital Square, a leading sponsor of tax-advantaged real estate investments, announced today that in 2019 the company acquired over $505 million in tax-advantaged real estate investments, and expanded its sales team to support the continued growth of the firm. Seasoned professionals James Brunger and Jennifer Middaugh join the firm as executive vice president, national sales and senior regional vice president, Mid-Atlantic sales, respectively.
Capital Square raised more than $235 million in equity for its Section 1031 exchange-eligible Delaware statutory trust (DST) offerings and qualified opportunity zone funds in 2019. This was a record year for Capital Square, resulting in more than $505 million in 10 DST offerings and three opportunity zone offerings, based on investment cost.
“Capital Square had a record year in 2019, with nearly 500 investors participating in DST and opportunity zone investments,” said Louis Rogers, founder and chief executive officer of Capital Square. “Moving up the national rankings to become the fourth largest sponsor according to Mountain Dell’s year-end report is the icing on the cake. We also completed a record year for the sale of DST properties, and participating investors realized an average 13.16% internal rate of return for the five DST offerings taken full-cycle during the year.* The continuation of highly profitable, full-cycle sales activity validates Capital Square’s business plan of buying, managing and selling tax-advantaged real estate investments.”
In their new roles, Brunger will oversee Capital Square’s sales team and Middaugh will be responsible for sales in the Mid-Atlantic. Margo Steahly, who has been with Capital Square since 2018, has been promoted to senior vice president, national accounts.
Brunger joins Capital Square with an extensive background in the real estate and financial services industries. Previously, he was senior vice president at LaSalle Investments, a wholly owned subsidiary of Jones Lang LaSalle, where he was responsible for managing the sales of real estate investment trusts and other real estate-related products throughout the eastern U.S. Prior to JLL, Brunger served as national sales manager for Sterling Foundation Management, where he oversaw a team of professionals assisting family offices and ultra-high-net-worth individuals in the formation and management of private family foundations, donor advised funds and charitable trusts. His career has also included time as a regional vice president at New York Life/MainStay Investments, regional vice president at Fidelity Charitable Services, and as a regional consultant at Fidelity Investments Institutional Services. He holds the Chartered Advisor in Philanthropy (CAP) designation from the American College and FINRA licenses 6, 7 and 63. He earned a bachelor’s degree from the University of Vermont.
Middaugh joins Capital Square to lead and oversee the sales efforts of independent financial advisors and registered investment advisors in the Mid-Atlantic region on behalf of the company’s expanding platform of investment products. She began her career dedicated to alternative real estate investing and financial strategies in 2001. During her tenure, she has been instrumental in launching several new investment products within numerous financial channels for other competing industry sponsors. She earned a Bachelor of Science from the University of Maryland and a master’s degree from Georgetown University McDonough School of Business. She also maintains FINRA Series 7 and 63 securities licenses.
About Capital Square
Capital Square is a national investment sponsor specializing in tax-advantaged real estate offerings, including Delaware statutory trusts and qualified opportunity zone funds. Capital Square has completed over $1.85 billion in transaction volume. Capital Square’s executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square’s related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. From 2017 – 2019, Capital Square was awarded by Inc. 5000 as one of the fastest growing companies. In both 2017 and 2018, the company was ranked on Richmond BizSense’s list of fastest growing companies. In 2019, Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” and “Fantastic 50” reports. To learn more, visit www.CapitalSquare1031.com.
*The internal rate of return is cash flow during the hold period of the investment; including initial investment, distributions and net sale proceeds. The internal rate of return represents a return to an individual investor. No representation is made that any investment will or is likely to achieve profits or losses similar to those achieves in the past or that losses will not be incurred.
Disclaimer: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing.