Capital Square
Capital Square has evolved from a pure 1031/DST sponsor into one of the more vertically integrated platforms in the securitized exchange market, with over $6 billion in AUM and more than $7.5 billion in transaction…
Overview
Capital Square has evolved from a pure 1031/DST sponsor into one of the more vertically integrated platforms in the securitized exchange market, with over $6 billion in AUM and more than $7.5 billion in transaction volume since its 2012 founding by Louis Rogers. Beyond sponsoring DSTs across 175-plus assets for some 6,500 investors, the firm develops its own multifamily product, manages roughly 13,000 apartments through Capital Square Living, and diversifies into Qualified Opportunity Zone funds and a REIT. That control of the full lifecycle—and full-cycle results such as a cited 159% return of equity on a completed DST—make it a benchmark name for diligence-minded exchangers.
Key strategies & advantages
- Evolved from a pure DST sponsor into a vertically integrated developer, $7.5B+ transaction volume since 2012 across 175+ assets and 6,500+ investors.
- Develops its own multifamily product (2,000+ units, ~$800M dev value) rather than buying solely at market.
- Operates Capital Square Living, managing 13,000+ apartments in-house.
- Diversifies beyond DSTs into QOZ funds and a REIT.
- Has produced standout full-cycle results, including a cited 159% return of equity on a completed DST.
Track record
Capital Square has 19 full-cycle programs in the Baker 1031 dataset, averaging 15.20% annual return, a 1.82x average equity multiple, and a 4.8-year average hold.
| Investment | Location | Asset Class | Hold | Equity Multiple | Annual Return |
|---|---|---|---|---|---|
| CS1031 Bedford Parke Apartments, DST | Warner Robins, GA | Multifamily | 5.3 | — | 15.82% |
| CS1031 Bellemeade Apartments, DST | Leesburg, VA | Multifamily | 5.6 | 1.37x | 6.61% |
| CS1031 Canopy Apartments, DST | San Antonio, TX | Multifamily | 5.5 | 1.78x | 12.41% |
| CS1031 Crossroads Apartments, DST | Phoenix, AZ | Multifamily | 2.3 | 1.45x | 18.35% |
| CS1031 Fairway View Apartments, DST | Atlanta, GA (suburb) | Multifamily | 4.1 | 1.92x | 19.25% |
| CS1031 Hickory Creek Apartments, DST | Richmond, VA (suburb) | Multifamily | 3.5 | 1.63x | 16.45% |
| CS1031 High Ridge Apartments, DST | Athens, GA | Multifamily | 6.5 | 2.26x | 15.54% |
| CS1031 Ivy Commons Apartments, DST | Marietta, GA | Multifamily | 4.2 | 2.02x | 20.22% |
| CS1031 Kay Alexander Pointe Apartments, DST | Jacksonville, FL | Multifamily | 4.5 | 2.61x | 25.84% |
| CS1031 Kay Maple Springs Apartments, DST | Richmond, VA | Multifamily | 4.4 | 1.67x | 13.94% |
| CS1031 Olde Towne Lofts Apartments, DST | Petersburg, VA | Multifamily | 6.5 | 1.53x | 7.82% |
| CS1031 Richmond VA Apartments, DST | Chesterfield County, VA | Multifamily | 5.2 | 1.56x | 10.05% |
| CS1031 Saltmeadow Bay Apartments, DST | Virginia Beach, VA | Multifamily | 3.6 | 1.82x | 20.07% |
| CS1031 Woodshire Apartments, DST | Virginia Beach, VA | Multifamily | 4 | 1.6x | 13.94% |
| CSRA Ashford Club Apartments, DST | Tallahassee, FL | Multifamily | 6 | 1.7x | 10.86% |
| CSRA Bridgeview Apartments, DST | Tampa, FL | Multifamily | 4.8 | 1.72x | 13.49% |
| CSRA Candleglow Apartments, DST | Tampa, FL | Multifamily | 5.3 | 2.53x | 21.31% |
| CSRA Galeria Del Rio, DST | Tucson, AZ | Multifamily | 5.3 | 2.22x | 18.12% |
| CSRA Perry Place Apartments, DST | Richmond, VA | Multifamily | 4.8 | 1.44x | 8.70% |
Figures are sponsor-reported and not independently verified; they may reflect selection and survivorship bias, and past performance does not guarantee future results. “Preferred” is Baker’s internal designation, not a rating or endorsement.
Current offerings from this sponsor
Baker 1031 tracks this sponsor’s active DST and 1031-eligible offerings. Verified investors can review what’s currently available. Browse current offerings →
Gerald F. “Jerry” Baker, III — Founder & Managing Principal, Baker 1031 Investments · FINRA Series 22 / 63 · SIE. Read full bio →
Sponsor figures are sponsor-reported and not independently verified; they may reflect selection and survivorship bias, and past performance does not guarantee future results. This profile is educational and is not investment advice or an offer to sell or a solicitation to buy any security. Offerings are available only to accredited investors and are made solely through the sponsor’s Private Placement Memorandum. Securities offered through Aurora Securities, member FINRA/SIPC. Real estate investments involve risk, including possible loss of principal.