Capital Square has launched Capital Square Living. The wholly owned subsidiary will oversee all management functions of the company's multifamily portfolio that is comprised of 55 residential communities and over 14,000 units across the Southeast and Texas.
"Capital Square is now a vertically integrated real estate company. This has been an evolution; the company was formed in 2012 and built a strong foundation with experienced executives specializing in acquisitions, legal, finance, accounting, and asset management. Then, in 2019, the development arm was launched and now has over 1,600 residential units built or under construction,” says founder and co-CEO Louis Rogers.
"In 2021, Capital Square Apartment REIT was formed, and, last year, the Private Equity Group was launched and already has a large pipeline of build-for-rent (BFR) housing communities acquired and under construction. Capital Square Living is the final step—creating a competitive advantage by providing property management services for our growing portfolio."
With more than 30 years of multifamily industry experience, Gus Remppies will lead Capital Square Living as president. Remmpies previously served as president, chief operating officer, chief administrative officer, and chief investment officer of Landmark Apartment Trust prior to its acquisition by Starwood Capital Group and Milestone Apartments Real Estate Investment Trust.
"Capital Square Living will deliver superior property management services by providing a best-in-class experience for our residents, exceptional living, and outstanding customer service," says Remppies. "We are not simply managing apartments, we are providing quality residences and establishing livable communities for thousands of residents in the vibrant Southeast."
Next month, Capital Square Living will begin the phased onboarding of communities and plans to assume direct management of the Capital Square multifamily portfolio thereafter. Capital Square Living will provide comprehensive management services, including operations, maintenance, employee development and training, customer service, revenue management, marketing, budgeting, leasing, and resident retention.
Rogers adds, "By internalizing property management, the same management team will be hands-on from acquisition/development until disposition of each property. Our vision is now complete—we are multifamily owners who actively develop and operate our properties. As a fully integrated real estate company, Capital Square will increase efficiency; we will do an exceptional job of serving our residents and, in turn, the thousands of Capital Square investors nationwide."
