At Capital Square, we believe that durable performance is the product of discipline: clear priorities, repeatable execution and the conviction to make deliberate decisions grounded in fundamentals. As we look deeper into 2026 and beyond, we do so with gratitude for the partnership of our investor family and with a sharpened focus on what comes next.

Capital Square has evolved from a fast-growing sponsor of tax-advantaged real estate investments into something broader and more powerful: a vertically integrated platform with the ability to originate, capitalize, finance, develop, manage and operate real estate at scale. That transformation didn’t happen overnight. It was built deliberately through investment in people, systems and long-term capabilities that position the firm to compete at the highest level.

Now, we are taking the next step.

Our 2026–2030 Vision

Capital Square has charted a five-year roadmap to strengthen our position as a premier manager of alternative investments, as well as a best-in-class real estate developer and property manager.

The purpose of our Strategic Plan is simple: to grow with intention.

We have built an exceptional platform and have a superior team. But ambition alone is not enough. Our great machine can do more, but only if it is guided by a thoughtful strategy, aligned incentives and the infrastructure to scale without compromising quality.

Our 2026-2030 Strategic Plan is our commitment to that standard and the future.

The Three Pillars of Our Strategy

Our “Invest, Build, Manage” strategy focuses on:

1. Robust offering growth via a broad suite of tax-advantaged investment solutions designed to address diverse investor and advisor needs, goals and interests;
2. Development projects that expand Capital Square’s investment vehicles and leverage the best-in-class assets we are actively constructing; and
3. Optimizing the firm’s vertically integrated structure now in place to drive operational efficiencies, increase profitability and maximize investor returns.

Vertical integration is often discussed. Fewer firms actually achieve it.

At Capital Square, our “build” and “manage” pillars will continue to create the foundation that supports and enhances our “invest” function.

Over the next five years, we will focus on the systems, processes, offerings and accountability required to turn our platform into a compounding advantage that enhances performance, supports scale and increases the durability of our earnings.

The Chassis We Built and the Future We’re Engineering

Capital Square built the distribution model first. We built a chassis: a platform capable of delivering investment solutions through trusted channels, with strong relationships and consistent execution.

A chassis determines what a vehicle can carry. It determines how fast it can go. It determines how well it navigates the bumps in the road and whether it can prevail through the miles ahead.

While Capital Square built our chassis to serve as an investment manager with fundraising through the independent broker-dealer and registered investment advisor channels, we have a platform capable of dramatic growth. Our platform is also capable of serving institutional investors with the same discipline and consistency that has defined our current success.

Our chassis can support countless vehicles, and we’re ready to engineer that future, built upon our many competitive advantages. While we recognize that road conditions can change and fuel supply isn’t always predictable, we have the chassis and the horsepower to support exceptional growth.

By focusing our Strategic Plan on specific targets, including fully supporting all operating segments of the firm through recurring revenue, we create a hybrid infrastructure that will give our vehicle the ability to regenerate energy through many cycles. These targets establish enduring capabilities that remain stable even when market conditions become unpredictable.

Additional 2026-2030 priorities include:

• Strengthening our position through the continued cultivation of the top-tier talent on our expert team — hiring and retaining the most qualified professionals — while advancing training and reinforcing the family fundamentals and across-the-board excellence that power our long-term success
• Elevating our position as a nationally recognized leader in diverse tax-advantaged real estate investments (for example, DSTs, OZs, development funds and REITs) amid the approaching “Great Wealth Transfer,” while remaining agile to increase our fundraising capabilities through new vehicles and partnerships that drive our 2030 goals forward
• Seizing our construction and development expertise to establish new channels for broker-dealer, RIA, wirehouse and institutional investor expansion
• Enhancing investor and partner experiences through personalized engagement and robust educational offerings, tailored to different audience segments
• Leveraging data analytics, innovative technologies and new digital platforms for external relationship growth, internal assessments, asset performance optimization, company advancement and greater fundraising capabilities

With these priorities defined and specific new initiatives already underway, our next chapter is ready to begin – a chapter where Capital Square is no longer defined by a single vehicle but by a motorcade of vehicles.

From Market Leader to Fully Realized Real Estate Platform

Between 2026 and 2030, Capital Square will continue its transformation from a market leader in tax-advantaged real estate into a fully realized, vertically integrated investment, development and management firm.

We are proud of our foundational fundraising expertise and positioned to expand upon this success. We know how to raise capital. We know how to structure offerings. We know how to serve advisors and investors with precision and integrity.

We will not pursue growth for growth’s sake. We will pursue growth that compounds and benefits all stakeholders.

That means focusing on performance and investor outcomes. It means making investments in systems and talent that will define what we can deliver five years from now. It means being deliberate in how we build legacies.

We built the chassis, and we are excited about the road ahead, where we see the growth of our scaled platform that will provide differentiated investment solutions without sacrificing our highest standards of accountability and excellence.

The years ahead will reward firms that can operate with both flexibility and conviction — firms that can deliver at scale, execute through changing markets and offer tax-advantaged investment solutions built for real-world investor needs.

We believe Capital Square is positioned to do exactly that.

We drive forward in 2026 with momentum, with a stronger platform than ever, and with a plan designed not just to grow but to create lasting value.

Thank you for your continued trust and partnership. We do not take it lightly. We are building for the long term, and we are proud to do it with you.

Regards,

Louis J. Rogers
Founder & Co-Chief Executive Officer
Capital Square

Whitson Huffman
Co-Chief Executive Officer & Chief Investment Officer
Capital Square

Disclosure: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative and illiquid. Diversification does not guarantee profits or protect against losses.

The post Louis Rogers and Whitson Huffman’s Annual Public Letter to Investors: April 2026 appeared first on Capital Square - Raising capital, buildings and expectations.

Between February 2025 and February 2026, Capital Square successfully diverted 757 tons of waste from landfills, achieving a 7.7% diversion rate across Capital Square Living-managed properties. This figure represents meaningful progress and also reflects our disciplined, incremental approach to improving operational sustainability at scale.

Breaking down the environmental impact of these efforts demonstrates their significance. Through recycling and waste diversion initiatives, we achieved the equivalent of:

• 9,179 trees saved, supporting carbon sequestration and ecosystem preservation
• 1,299 metric tons of CO₂ equivalent (MTCO₂e) emissions avoided, contributing to reduced greenhouse gas intensity
• 1,413 cubic yards of landfill airspace conserved, extending landfill lifecycle capacity
• 2.38 million gallons of water saved, reinforcing responsible resource utilization
• 823,600 kilowatt-hours of electricity conserved, reducing overall energy demand

These outcomes are not theoretical. They are quantifiable efficiencies that align with our institutional corporate responsibility and sustainability benchmarks.

Performance across our portfolio highlights several standout assets leading these efforts. Rivergate achieved the highest diversion with 202 tons, followed by Promenade at Newnan Crossing and One Riverside, each with 76 tons, Sterling Manor with 74 tons and Farmhaus with 68 tons. These properties demonstrate how localized engagement and operational discipline can scale into portfolio-wide impact.

Importantly, our waste diversion initiatives operate alongside broader sustainability investments, including the expansion of EV charging infrastructure (now 45 EV stations across 25 properties) and real-time energy meter monitoring systems. Together, these programs enhance cost savings and efficiency, advance resident-centric value drivers and position our assets to meet evolving regulatory and investor expectations.

Our investors can see that these results underscore a key principle: sustainability and performance are not mutually exclusive. By embedding collective responsibility into our operating model, Capital Square continues to generate measurable environmental benefits while strengthening asset resilience, reducing operational risk and supporting long-term value creation.

We continually seek new ways to deliver on our “investors first” commitment. Explore more about how our robust corporate responsibility and sustainability strategy drives value and returns for our investors, and also empowers us to operate conscientiously and make a lasting difference for our residents and the local communities we serve.

The post Advancing Collective Responsibility Through Measurable Environmental Impact appeared first on Capital Square - Raising capital, buildings and expectations.

In this discussion, three of our firm’s learning and development leaders – Andrea Shaw, Vice President, Learning & Development; Victoria Lennon, Learning Manager; and Steve Wunch, Director, Sales & Leadership Learning – discuss what L&D really means, how it empowers teams, and the initiatives Capital Square is implementing to strengthen talent and support bottom-line results.

Learn how a focused approach to professional growth can help employees and the total firm perform at the highest levels.

Approximate Transcript:

Steve: So, we’re here to talk about my favorite subject, which is learning and development. I’m here with my great partners in learning, Andrea Shaw and Victoria Lennon. Let’s talk a little bit first.

You know, learning and development can be a bit ethereal. People kind of don’t really put their fingers on what it all entails, so for someone who’s watching this, hearing about learning and development in the multifamily space for the first time, how would you guys define what it is that you do and why it’s important to the business?

Andrea: Well, we do what we do because of all of the people involved in the business. So yes, we are a business, but there’s a lot of people that make it work and help it either be successful or not. And so, the more we get the people what it is that they need to be successful on a daily basis, the more successful the business will be.

The more we can tie those things together, the better off everybody is, because they feel like they’re getting what they need to be successful, and they in turn then treat their customers in that way, start building relationships with their vendors in that way, and help us grow not just our culture but our business, and things become more profitable in turn as well.

The more success we can have individually, the more success we have as a team. I think people feel that, and there’s something a little different about feeling a certain way, feeling like you have somebody who’s invested in you when you’re going to work, versus just feeling like you’re going to work for a paycheck.

Steve: Right. Can you tell me a little bit about your roles and how they’re different? Because I know, Andrea, you’re kind of spearheading a global approach to learning, not just for Capital Square Living but also for the Capital Square organization. But Victoria, I want people to understand what your role is and how you play in the learning collaboration that happens between the two of you.

Andrea: Okay, so I’ll go ahead and start, and then I’ll pass it over to you.

I try to take a look at what the organization needs as a whole, and then say, how does that differ from department to department? And then, further from that, how does that trickle down to each of the individual job roles? How can we create programs that can benefit everybody within a particular either department or job role, and be able to develop programs that can appeal to the masses in those areas? Also building our culture, building things like rewards and recognition.

Right now, a big initiative that we’re working through is performance management, which is part of the performance review process, goal setting, and helping people be able to have an aligned vision. So larger scale projects that are either organization-wide or a larger appeal based on each department or particular job role. That’s where Victoria gets into the more granular pieces.

Victoria: So yes, I take more of a granular approach, like she said, on some of the tasks. We definitely worked very closely when we built our “Rise” onboarding program [at Capital Square Living], and I now manage the majority of that. But in addition, some of these large-scale goals that we have, they start on a granular level, such as policy and procedures. I spearhead a lot of our [standard operating procedures] or SOP development. That doesn’t mean I create them, but it means that I’m getting all of the parties in the room that need to have a role in creating policies and procedures, so it’s not made in a bubble, and we’re truly seeing the whole picture.

Then once we build it out with the experts in whatever policy we’re working on, we can then look and say, “Okay, let’s bring in that training element.” Because it’s great to write a policy, but if we don’t train people in what that policy and procedure is, it’s not going to be effective.

Something very unique to Capital Square, that I love, is that the policy is starting from the learning and development side, because again, we have to train people in what we want them to do in order for them to be successful.

The data shows that training people, investing in them, having good onboarding, having a good first experience when they start at a company, that retains people. Ultimately that drives the business forward, because you’re not having to spend as much money bringing new people in.

When you look outside of the cultural aspect, if you just look at the revenue side of it, the business side of it — which is important to point out to some leaders who maintain this as their driving force — I think it’s important to see that Learning and Development does bring a revenue saving aspect. Sometimes that’s hard to see, because if we’re doing our job right, you’ll never see a loss in revenue. But when it’s not done right, you do see it. That’s why it really should be at the forefront in any business.

Steve: I love that.

Andrea: And the great thing is it’s still not where it’s going to be. We’re continuing to build this out because we have opportunity to continue to make it better. And we know that making somebody’s first impression of working here a powerful one, a great one, a memorable one, is going to continue to be important.

As we continue this journey of building out these different kinds of elements and offshoots, we’re going to continue to find things that we can do better. Bringing in additional support teams is one of them. Refining what it looks like physically when somebody comes into the office is really important. Figuring out how there’s nuances between different job roles and departments and what that will look like.

We’re excited about continuing to make this great as we find opportunities to continue to do that.

Steve: And it’s a snapshot of learning, because learning is always changing and growing and reiterating, and that’s exactly what you guys are doing in your process.

Andrea: Absolutely. What’s great about the data is that we see that it’s working. So many people investing their time and resources into this is paying off. The more we do that, we’re going to continue to see those numbers show us that as well, and that’s an important thing for us also: being able to really measure our success, to say, “Is this thing that we’re doing helping?”

Steve: Which is really exciting, and this global approach to learning and development, I think is going to be really full of wins for all of the folks that are within the organization, regardless of which side of the table they sit on, whether it’s Capital Square or Capital Square Living. It just really paints a broader picture and gives everybody an idea of what is possible. That paints the picture for a very bright and happy future.

Victoria: It also helps growth. When you have to bring somebody in from the outside, you now have to teach them all of the history that has gone into it.

Steve: Like starting from scratch.

Andrea: Yes, they come with great knowledge from where they come from, but they don’t know the journey that has led to where you are. So, when you’re able to attain someone and have them grow into a new role, they see the journey. They’re going to see, “Oh, well, Capital Square has done all this. That’s why we’re here.”

Sometimes it takes time for people to learn that, and that’s really important when building the future, to see where you’ve been, so that you don’t make the same mistakes again, and you have a better understanding of the plans moving forward.

Andrea: I love the idea of helping our team members build that legacy. We’re able to help them continue building their own legacy here at Capital Square, and I think with this global approach, it allows for us to more seamlessly see everybody as Capital Square team members and just help them be able to connect the dots better about who does what and how they can best work together.

We have the opportunity to really connect with human beings, which isn’t as common anymore these days. I think that’s such a beautiful gift that we’re able to have in our job roles, but also to be able to highlight that our team members have the ability to make an impact on people’s lives in a really great way.

Steve: 100%.

Across-the-Board Excellence

This is one of our core values at Capital Square. We bring quality, awareness and depth of knowledge to every project and relationship. Our Learning & Development programs are one more example of this value in action.

The post Empowering Excellence: Learning & Development at Capital Square appeared first on Capital Square - Raising capital, buildings and expectations.

Our collaboration with VCUarts reflects a shared belief: thriving neighborhoods are built not only with strong fundamentals and thoughtful design, but with meaningful connections to the local character that makes a city exceptional.

A partnership built on shared values

Richmond’s creative energy is one of its defining strengths, and the VCU School of the Arts has long been at the center of that ecosystem. The Capital Prize expands opportunities for VCUarts Painting + Printmaking alumni to place their work in a high-visibility setting and help connect artists with new audiences.

Located within Richmond’s Scott’s Addition neighborhood, Chasen is a 352-unit, Class A multifamily community designed to deliver a modern residential experience while contributing to a district known for its momentum. Chasen also carries a unique historical thread: the site’s legacy includes the former N. Chasen & Son paint company, making it a fitting home for a program celebrating contemporary painting and printmaking.

The Capital Prize exhibition is installed across two floors of gallery space within the building, weaving art into the resident and visitor experience, as well as within sight of those walking by on the sidewalks of Scott’s Addition. Thus, in the launch of this prize, only weeks after Chasen first opened its doors to residents, the community has proof that placemaking can be both intentional and inspiring.

The Inaugural Capital Prize

For Round One, Capital Prize exhibition juror Leila Grothe, Operations Manager at Ruth Arts foundation in Milwaukee, selected 20 artworks from 73 submissions, showcasing work by 19 artists in the exhibition. Across all three awardees, a common thread emerges: ambitious ideas executed with discipline, craft and clarity — qualities we recognize and champion across everything we build.

First Prize: Natalia Mejía Murillo — Pillar and Cadence

Natalia Mejía Murillo (M.F.A. ’23) received First Place for Pillar and Cadence (pillar: blown and laser-engraved glass and reclaimed wood, 78” x 6” x 4”; cadence: cast iron and pencil, 12” x 8” x 8”, 2026). Born in Bogotá, Colombia, Murillo is a visual artist whose work explores territory, repetition, trace and time, drawing connections among astronomy, cartography and archaeology. In Pillar and Cadence, those themes translate into a contemplative 3D presentation rooted in transformation that invites viewers to slow down and consider how place, history, technology and creativity shape what we think we know.

Second Prize: Luis Vasquez La Roche — A Few Rules for Predicting the Future

Second Place was awarded to Luis Vasquez La Roche (M.F.A. ’20) for A Few Rules for Predicting the Future (oil paint on wood panel, 48” x 48”, 2025). An artist and educator who resides between Trinidad and Tobago and Virginia, La Roche brings a perspective shaped by movement, lived experience and inquiry. They are a tenure-track Assistant Professor in the Department of Art and Design at George Mason University. The awarded work evokes the complex realities that exist behind the superficial layers of shimmer in modern life, an approach that feels especially resonant in a rapidly changing world.

Third Prize: Eleanor Mahin Thorp — Trölls

Third Place went to Eleanor Mahin Thorp (M.F.A. ’22) for Trölls, (oil on panel, 2024), which stood out for its confident voice and compelling presence, infused with texture, movement and narrative intrigue. Thorp’s practice has earned attention beyond the gallery. Her work has been featured by Yellowstone Public Radio and in outlets including The Washington Post and Anarchist Review of Books. She currently teaches at The City College of New York (CUNY).

Excellence you can experience

The Capital Prize is more than an exhibition; it’s an expression of what we believe real estate can do. When communities transform because of private investment and when development is executed at a high level, a platform is built for community partnerships, cultural investment and shared pride.

At Chasen, residents don’t just rent an apartment. They step into a place shaped by Richmond’s identity, with art that sparks conversation in lobbies, corridors and gathering spaces. That’s across-the-board excellence: collaborative partnerships, elevated design and honored history, while supporting local-grown talent and built environments where people genuinely want to live, play, work and invest.

Disclosure

Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to sell any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative and illiquid. Diversification does not guarantee profits or protect against losses. FINRA Broker Check link: https://brokercheck.finra.org/.

The post VCUarts × Capital Square: The Capital Prize Comes to Life at Chasen appeared first on Capital Square - Raising capital, buildings and expectations.

Thank you to everyone who joined us in marking this important milestone for the Richmond community.

Disclosure: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to sell any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative and illiquid. Diversification does not guarantee profits or protect against losses. FINRA Broker Check link: https://brokercheck.finra.org/.

The post Chasen Grand Opening in Scott’s Addition appeared first on Capital Square - Raising capital, buildings and expectations.

When a pioneer of tax-advantaged real estate investments becomes an author then chooses to donate 100% of his royalties to the Children’s Hospital of Richmond at VCU, it’s a moment to dive deeper. In this conversation between founder and co-CEO of Capital Square Louis Rogers and award-winning media personality Jeff Katz, they discuss Rogers’ career, his new book (Section 1031 Exchanges: How to Swap Till Ya’ Drop, Building Family Wealth While Minimizing Taxes) and what building legacies truly means.

For more about Louis Rogers’ book, these additional media resources are available for you:

• “Section 1031 Exchanges: building family wealth while minimizing taxes” (Virginia This Morning, November 5, 2025)
• “Five Questions for Capital Square’s Founder & Co-CEO Louis J. Rogers” (AltsWire, May 28, 2025)
• “Capital Square Founder Louis J. Rogers Authors Definitive Guide on Section 1031 Exchanges” (press release, May 20, 2025)

Disclosure: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Diversification does not guarantee profits or protect against losses. Private placements are speculative and illiquid.

The post Section 1031 Exchanges and Building Legacies with Louis Rogers & Jeff Katz appeared first on Capital Square - Raising capital, buildings and expectations.

The following conversation took place on November 3, 2025.

What energizes you about Alts?

Jessica Correnti: From the moment I entered financial services, I thought alternative investments were the most energizing part of the industry – one of the only asset classes that you can really see, feel, touch, and smell. When you’re investing in something tangible, you have a connection to that asset that’s substantial, not simply an abstract idea.     

Now, in the present day, the alternative investment industry is seeing commoditization. A real evolution is underway. A decade back, investors saw differentiation between sectors and assets, but also in the experience of the investment, such as the fund type, the structure, the fees and the return profile. Now, those attributes have narrowed. Sponsors now compete on the thoughtfulness of the structure, the quality of the offering’s underlying investments and the investor-centric model the sponsor has put together – as well as the quality of the execution and the values inherent in the professional relationships.

Private alternative investments are more sophisticated and transparent today. This long-haul transformation and the ability to influence the investor experience within these new differentiating factors energize me even further.

If a differentiating factor is that authentic investors-first mindset, leading with transparency and integrity, as you’ve spoken about before, how do you as a leader in the industry make sure to put forth your values, front and center, in your daily work?

Jessica Correnti: Every individual has unique skills and influence, power and knowledge, and with those talents, you should serve others and share with others, so that they may grow and continue giving their best to even more people. Serve, share, give – simple ideas my personal faith guides me to live by every day.

For me, serving is using my talents, knowledge, skills, power and influence to help other people where they are. This means providing them with information that they need and supporting them with my abilities, so their time is free for their own unique talents.

Regarding how I share, my favorite conversations are not always about selling DSTs, believe it or not. My favorite conversations are often with people who call me on a regular cadence for mentorship. I listen to the season they’re in and share with them what I have learned from my experience to try to support them in every way I can.

My final focus is how I give. Yes, this is, in part, giving time to mentorship, giving time to IPA, and maybe soon the ADISA board if I am elected; but this also is how I show up each day, no matter what I’m doing, giving people my time, attention and energy.

These core values for my personal identity give me my operating framework in my position leading the Capital Square sales team, and it’s incredibly fulfilling to see these ideas throughout the full Capital Square team as well. Louis Rogers founded Capital Square with these same values of serving, sharing and giving. You see it in our firm’s relationship with our investors, in our partnerships across the Alts community and within the local communities where we find ourselves, in Richmond, Virginia and elsewhere.

Relationships are clearly important to you. What do you see as the future of relationships in the tax-advantaged real estate and larger alts industry?

Jessica Correnti: When people talk about the path forward with relationships related to investments or investment advice, there’s an expectation that part of that answer will be about AI. That is a true answer to give.

Artificial intelligence will definitely continue to crawl and creep through our space. I actually just watched an alternative investment offering video by another sponsor, where the entire presentation was created by AI. Artificial intelligence can be seamless, and the avatars speak without stutters; but AI is not going to be able to replace a true conversation, a true face and a true relationship. There may be chatbots, robots or AI duplicated faces that we speak to, but at the end of the day, someone who will be invested ethically and morally in your outcomes is not replaceable.

I think about relationships from a human-to-human perspective. Consultative selling and consultative sales team approaches should always be the first step in any type of relationship. From there, curiosity, understanding and alignment of goals can grow dramatically.  

Technology will allow greater reach and greater access. It will elevate sophistication, transparency, speed and streamline processes. However, in tandem always will be the real trusted partners, the person you’ve worked with for years, who you know as a trusted specialist on the product and the market, and who you know will find you the in-depth, non-superficial answer to anything you would like to know.

In this age of AI, why is deeper education and the ability to have a human relationship important for investors, broker-dealers and RIAs? Why do you suggest the importance of humanity when artificial intelligence can quickly produce any answer?

Jessica Correnti: I think my quick answer is that AI still getting things wrong, and there’s an element of human-input that will require mass training to minimize error. Subtleties within our space can be intricate, market-specific and not easily summarized within a few sentences. Information in PPM documents and marketing materials can be misconstrued if an algorithm pairs it with information that it shouldn’t be paired with. In addition, while there’s a lot of information on the internet, not all of that source material is true. There’s tremendous value in what I’ll call a “gut check” that deeply knowledgeable professionals can provide.

Plus, everyone learns differently. I learn better by reading. Others value insights gleaned from conversations or presentations, or a mix of numerous information gathering practices. Every investor and advisor learns differently as well. Human connections can provide a variety of touchpoints and tools, adjusting by understanding the unique nature of learning styles, as well as body language and conversational cues.

Finally, relationships beget relationships. While AI can provide information, it will be difficult for AI to become an impactful center of influence for an advisor or investor. Relationships with experts you know and trust are centers of influence, and the strongest business model is that which uses referrals. Partnerships remain endlessly valuable.

Where else do you see the industry going and continuing to transform?

Jessica Correnti: We’re going to continue seeing a standardization of best practices between alternative investments, as I noted, but also a widening of the types of choices we can make. We’re going to see more in sports and a ton more in AI, blockchain and innovative technologies in the coming years. Those assets that might feel abstract today are going to start feeling far more real and tangible. Then we’re going to have to remember that we (in the private real estate world) have already faced challenges with evolving structures. We’ve already provided new levels of transparency and created best practices. It will be really interesting to see the maturation of some of these private and real asset types in juxtaposition to what I think will be a boom of a completely new set of private real assets.

But again, it will be the professionals who lead with a focus on serving, sharing and giving that will be the legacy makers who stand out amid the chaos. The experts who never stop learning and pursuing their passions for delivering investor outcomes will be the standout successes.

I am grateful to be in this industry, and I am eager to lead alts industry professionals through our exciting present and possibility-filled future.

Learn more investment insights from Capital Square, or explore our real estate research library. Then contact our team of real estate investment experts today to continue the conversation.

Disclosure: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Diversification does not guarantee profits or protect against losses. Private placements are speculative and illiquid.

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This goes beyond our strong benefits package, floating holiday system, paid volunteer time off and parental leave support. Our dedication to our team’s health and wellness is also visible in our onsite gym and access to a personal trainer for group sessions, mindfulness sessions through the Peavy Project, as well as our annual physical wellness challenge, aligned with the American Heart Association’s “Life’s Essential 8.”

This year, our physical wellness challenge encouraged team members to embark on a personalized strength and exercise task list. We were not competing against one another but competing to push ourselves onward for the sake of our physical and mental health. Each week, team members received a bingo card filled with exercises in every square: push-ups, tricep dips, wall-sits, glute bridges, calf raises, bicycle crunches, planks, burpees, superman holds and more. Each week, the bingo pattern was revealed – such as a single straight line, an “X” across the card or all of the framing squares. After eight weeks, 10 total team members achieved bingo perfection across the entire length of the challenge, focusing on their health whenever best fit their schedule and winning an additional day of PTO or another prize option of their choice.

Following our exercise challenge, American Heart Association (AHA) representatives taught a hands-only CPR training session at our corporate office, open to any interested Capital Square team members. Then the AHA Richmond Heart Walk, which supports an important cause and conveniently took place only a few steps from our company headquarters, closed out this annual physical wellness initiative.

When employees are physically and mentally well, they’re more energized, focused and engaged. This not only boosts productivity and reduces errors, but as we strive forward together as a team, our comradery grows even stronger.

At the end of the day, investing in health and wellness isn’t just a “perk.” It’s a core part of how we build a team that feels energized and supported every single day.

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This summer, our interns were immersed in one of two experiences: deep engagement within a core team or rotational exposure to numerous areas of the business. For example:

• Development & Construction: Our interns gained exposure to the full lifecycle of a development from site selection and feasibility analysis to capitalization, land acquisition, construction oversight, leasing, marketing and ultimately sale — gaining a real understanding of development project flows and coordination.  
• Financial Analysis & Investment Strategy: In collaboration with our closing and sales teams, our interns learned about complex tax‑advantaged structures like Section 1031 exchanges, Delaware statutory trusts (DSTs), qualified opportunity zone funds and real estate investment trusts (REITs) — deepening their understanding of how Capital Square builds legacies for investors with different needs and strategic goals as well as how we leverage our robust in-house team to enhance the investor experience.
• Marketing & Communications: Our interns explored audience segmentation analysis and multiple communication frameworks. Balancing audience understanding, brand voice and messaging goals allowed for further professional growth amid real‑time initiatives.
• Property Management (Capital Square Living): With our property management division, interns shadowed operations spanning leasing, asset performance tracking and resident services, seeing firsthand how fully integrated property management adds value across our wider platform.

Throughout the program, interns were encouraged to take initiative, communicate effectively and contribute proactively. The 2025 cohort, like their 2024 and 2023 predecessors, left the program with a new set of skills and insights they’ll carry well into their futures.

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We were also joined by Shay Hawkins, Deputy Director for Opportunity Zones at the America First Policy Institute, and Catherine Lyons, Director of Policy and Coalitions at the Economic Innovation Group — two influential voices in OZ policy today.

Following the Hill Day, Capital Square hosted an exclusive dinner with several of our most active financial advisors, providing direct access to these policy leaders. The conversation centered around real-time legislative developments, anticipated timelines for reform and how Capital Square is positioning our investors and partners to lead in this evolving space.

Key Opportunity Zone Insights

• Legislation Status: The reconciliation bill in progress includes an OZ extension and possible renewal legislation. An initial draft of the full language is expected in May.
• Policy Direction: While the reconciliation bill is viewed as a partisan process, meaningful support for the OZ program has historically existed on both sides of the aisle. Recent working papers and advocacy letters demonstrate the effectiveness of OZ legislation and provide insight into what we can expect to see from Congress. (For further reading, explore Economic Innovation Group’s insights on how OZ legislation is tackling the nation’s housing supply crisis and Novogradac’s open letter to the Trump Administration.)
• Strategic Positioning: Capital Square is maintaining a direct line to those shaping the future of OZ policy — ensuring our investors and financial partners stay ahead of the curve. (Want to learn more? Join us in Richmond on June 4, 2025 for an OZ and Multifamily Investing Summit, co-hosted by Capital Square founder and co-CEO Louis Rogers and host of the Opportunity Zones Podcast Jimmy Atkinson, in addition to featuring keynote speaker Jay Parsons, nationally recognized housing economist. Register today before the event sells out.)

Why It Matters

This level of access is unmatched — and it underscores Capital Square’s commitment to transparency, investor advocacy and staying at the forefront of policy development. It also empowers our financial partners with timely and comprehensive educational resources as well as actionable information.

Turning Policy Insights into Action

At Capital Square, our latest open QOF offering, CSRA Opportunity Zone Fund IX, LLC, unlocks the tremendous tax benefits and economic impact inherent in strategic OZ developments, in a first-to-market apartment hotel concept.

Discover more about this opportunity.

Our evolving role at the forefront of the opportunity zone space is just one more example of how Capital Square continues to raise capital, buildings and expectations.

Disclosure: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short-term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Diversification does not guarantee profits or protect against losses. Private placements are speculative.

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