Capital Square Housing Trust, a real estate investment trust sponsored by Capital Square, has announced the offering of up to 2 million shares of Series 1 Redeemable & Convertible 9 percent preferred stock at $10 per share available to accredited investors.
Capital Square Housing Trust seeks to raise $20 million, subject to an increase to $25 million, to fund acquisitions and UPREIT transactions, as well as for general corporate purposes.
“Capital Square is pleased with the results of two UPREIT transactions in which over 85 percent and 71 percent of investors elected to exchange their Delaware statutory trust (DST) interests for operating partnership units on a tax-advantaged basis under Section 721 of the Internal Revenue Code,” said Louis Rogers, founder and co-CEO of Capital Square. “UPREIT transactions allow real estate owners to diversify and reduce risk by exchanging their single property for operating partnership units
