Sponsor profile
SEC filings + cited sources
Capital Square is a vertically integrated national real estate firm founded in 2012 by Louis Rogers in Glen Allen, Virginia. It sponsors tax-advantaged real estate investments, including Section 1031/DST offerings, qualified opportunity zone funds, and the non-traded Capital Square Housing Trust REIT, and operates its own development and property-management arms under an invest-build-manage model. Top1031 tracks 135 Capital Square DST programs first filed since 2013, spanning multifamily, medical office, manufactured housing, grocery-anchored retail, and build-for-rent housing. The sponsor reported more than $1 billion in 2025 property dispositions and has taken multiple DST programs full-cycle, several through 721 UPREIT transactions into its REIT.
Firm profile
Capital Square is a vertically integrated national real estate firm founded in 2012 by Louis Rogers in Glen Allen, Virginia, sponsoring tax-advantaged real estate that includes Section 1031/DST offerings, qualified opportunity zone funds, and the non-traded Capital Square Housing Trust REIT 1. The company added a development arm in 2019 and launched its property-management subsidiary, Capital Square Living, in 2023, giving it an invest-build-manage structure 2. Top1031 tracks 135 Capital Square DST programs first filed since 2013, spanning multifamily, medical office, manufactured housing, grocery-anchored retail, and build-for-rent communities 3.
DST platform and recent activity
Capital Square reported that 2025 was its most active year, with more than $1 billion in dispositions and $302.8 million in full-cycle DST property sales, several completed as DST-to-721 UPREIT transactions into Capital Square Housing Trust 4. In March 2026 it reported fully subscribing three DST offerings—CS1031 Parkland Apartments, CS1031 Tapestry West Apartments, and CS1031 Lyric at Norton Commons Apartments—totaling $396 million in investment cost across 579 investors 5. It launched CS1031 Cacema Townhomes, DST, a $41.85 million raise for a newly constructed 176-unit townhome community near Orlando, in May 2026 6, and CS1031 Texas Active Living Portfolio II, DST, an all-cash offering of two 100%-occupied active-adult cottage communities in Kerrville and Round Rock, in June 2026 7.
Representative full-cycle outcomes
CSRA Grocery Portfolio I, DST, a grocery-anchored retail portfolio, was sold in August 2025 at a sponsor-reported 184% total return 8. CSRA Galeria Del Rio, DST sold in August 2021 at a reported 222.23% total return, or 23.04% annualized 9. CS1031 High Ridge Apartments, DST completed a 721 UPREIT transaction in June 2024 at a reported 2.26x equity multiple and 185% total return 10. In April 2025, an earlier single-tenant CVS pharmacy DST on the Las Vegas Strip (CSRA 2700 S. Las Vegas, DST) was recorded as foreclosed 11.
Recognition
Capital Square was named to the Inc. 5000 list of fastest-growing private companies for a ninth consecutive year in September 2025 12, and its management operation received IREM's Accredited Management Organization (AMO) accreditation in January 2024 13.