Addressing the shortage of quality housing that traces its origin to the Great Recession, Capital Square announced this week it will embark on a fund to build in the Mid-Atlantic and Southeast regions.
The Capital Square Multifamily Development Fund I, L.P., seeks to raise up to $300 million in equity from institutional investors who will participate in the development of a portfolio of ground-up, multifamily communities throughout these regions, in markets such as Richmond, Va.; Charleston, S.C.; and Knoxville, Tenn.
Louis Rogers, founder and chief executive officer of Capital Square, said in prepared remarks. "The shortage was exacerbated by the COVID-19 pandemic that delayed or halted many new developments.
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