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Capital Square’s Record-Breaking Year in 2025

Capital Square has officially announced that 2025 was a groundbreaking year, as it surpassed $1 billion in total dispositions and achieved remarkable growth across various sectors. This marks the most active year in the company's history, highlighting its strength and effectiveness in the real estate market.

Significant Milestones

The company achieved a remarkable feat of generating more than $1 billion in multifamily transaction volume, further underscoring its successful execution across multiple real estate investment strategies. Among the achievements, the firm noted a significant transaction volume of $302.8 million in full-cycle Delaware statutory trust (DST) transactions, indicating the highest annual performance since its establishment.

Louis Rogers, founder and co-CEO of Capital Square, stated, “2025 was a record year for Capital Square. We executed at scale across every part of our platform – delivering liquidity, expanding our multifamily footprint, and providing investors with multiple paths to reinvest and continue compounding tax-efficient wealth.”

Comprehensive Growth in the DST Sector

Capital Square successfully managed to fully subscribe six DST programs in 2025, and notably, ten offerings were completed at full-cycle. Most investors preferred to reinvest their earnings into another Capital Square-sponsored DST to continue deferring taxes under Section 1031 of the Internal Revenue Code. Additionally, a growing number of DST investors chose to transfer their interests to Capital Square Housing Trust, the firm’s real estate investment trust (REIT), to benefit from more permanent tax deferrals and additional advantages not typically available in the DST structure.

Capital Square Housing Trust Expansion

The firm’s REIT, Capital Square Housing Trust, saw a substantial increase in its gross asset value, rising from $212 million to $388.9 million as it added five new properties to its portfolio. This year also saw Capital Square entering the Tennessee market with the acquisition of 912 multifamily units, effectively diversifying its geographical footprint.

In 2025, the REIT was involved in five UPREIT transactions, with two notable DST-to-UPREIT acquisitions that significantly boosted valuations:

• - Marina Pointe Apartments in Chattanooga, Tennessee: A community of 308 units with projected distribution increases of over 22%.
• - Promenade at Newnan Crossing in Newnan, Georgia: A 298-unit community with anticipated distributions rising by 52%.

Alongside these transactions, three additional whole-property UPREIT acquisitions were successfully completed.

Landmark Developments in Opportunity Zones

2025 also marked a pivotal year for Capital Square’s development team, delivering four significant projects with a combined cost exceeding $465 million. Some major developments included:

• - Maeve (CSRA Opportunity Zone Fund VI, LLC): A 20-story multifamily community featuring 297 units and over 10,000 square feet of retail space.
• - The Nickel Hotel (CSRA Opportunity Zone Fund IV): A 50-unit boutique hotel in Charleston, South Carolina.
• - Livano Knoxville (CSRA Opportunity Zone Fund VIII): A 348-unit Class A multifamily community in Knoxville, Tennessee.
• - Chasen (CSRA Opportunity Zone Fund VII): A multifamily community in Richmond, Virginia, which began leasing this year.

Several of these projects garnered national recognition for design and architectural excellence, showcasing the firm's commitment to quality developments.

Scale and Management Capacity Growth

Capital Square Living, the firm’s property management division, concluded the year managing 13,273 units across 57 sites in 23 markets. The platform garnered awards at the Chattanooga Apartment Association Annual Awards, recognizing multiple properties for excellence. Furthermore, a new Elevate Leadership Development Program was initiated to empower leaders within the organization.

Ongoing National Recognition

Through continual achievements, Capital Square marked its presence nationally on Multi-Housing News’ Top Multifamily Property Owners list and for the ninth consecutive year, earned a spot on the Inc. 5000 list of fastest-growing companies. It was also recognized by GlobeSt. CRE for its workplace environment and awarded WealthManagement.com's Impact Award.

In summary, Capital Square’s record-breaking performance in 2025 is a testament to its effective execution and strategic growth in the real estate market. With a commitment to delivering value and innovative tax-advantaged outcomes, the firm is poised for continued success in the coming years.