Commercial Real Estate Direct Staff Report
April 24, 2013
With expectations that investor demand for structured tax-deferred exchanges will continue to grow, Louis J. Rogers, a seasoned player in the sector, has set up his own shop, Capital Square Realty Advisors.
The Richmond, Va., advisory operation has completed its first transaction. Late last year, it paid $20.8 million, or $185.70/sf, for the Riverwood Corporate Center, a 112,000-square-foot office building in suburban Milwaukee and has completed syndicating the $6.5 million of equity needed to buy the property through a Delaware statutory trust, or DST.
Capital Square is one of what is expected to be a growing list of entrants into the sector, which at the market’s peak had some 80 sponsors. Last year, in contrast, only seven sponsors participated in the DST market.
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