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Capital Square Multifamily Development Fund I launches with $300m fundraising target
Capital Square is seeking to raise up to $300 million for its newly launched Capital Square Multifamily Development Fund I.
The fund is geared toward institutional investors who will participate in the development of a portfolio of ground-up, multifamily real estate communities located in emerging secondary markets in the mid-Atlantic and Southeast United States.
Capital Square Multifamily Development Fund I will invest in the limited partner equity portion of the capital stack and will focus on emerging secondary growth markets that lack institutional capital investment, including Richmond, Va.; Charleston, S.C.; and Knoxville, Tenn. The investment vehicle plans to invest in more than $850 million of development projects.
“There is a shortage of quality housing that traces its origin to the Great Real Estate Recession,” said Louis Rogers, founder and CEO of Capital Square. “The shortage was exacerbated by the COVID-19 pandemic that delayed or halted many