Louis J. Rogers, the founder and co-chief executive officer of Capital Square and its related entities, began with a vision to build the best real estate investment company possible. He oversees the firm’s Delaware statutory trust (DST) programs for investors seeking qualifying replacement property for Section 1031 tax-deferred exchanges and regular (non-exchange) investors. Rogers also provides investment banking services for owners. He is a nationally recognized authority in structuring securities offerings for real estate investments, the author of Section 1031 Exchanges: How to Swap Till Ya’ Drop, Building Family Wealth While Minimizing Taxes and serves as a consultant and expert witness on Regulation D private placements, non-traded REITs, Section 1031 exchanges, DST and TIC programs, real estate funds, and issues related to broker-dealers and registered investment advisors. Rogers additionally serves as chairman and chief executive officer of Capital Square Housing Trust.

In 1998, Rogers assisted in the formation of Triple Net Properties, LLC as outside legal counsel before being named president and a member of the board in 2004. Under Rogers’ leadership, Triple Net became the nation’s largest sponsor of securitized Section 1031 exchange programs. While at the firm, he was responsible for the syndication of more than $4 billion of real estate within in excess of 100 offerings, including DSTs, TICs, REITs and real estate funds that acquired office, government, multifamily, retail and healthcare properties throughout the United States.

From 1987 to 2004, Rogers was a partner with Hirschler Fleischer, a prestigious law firm based in Richmond, Virginia. He founded and led the firm’s real estate securities practice group, one of the largest of its kind.

Rogers earned a Bachelor of Science from Northeastern University with highest honors, as well as a Bachelor of Arts with honors and a Master of Arts in jurisprudence from Oxford University. He also earned a juris doctorate from the University of Virginia School of Law. Rogers was a member of the adjunct faculty at the Marshall-Wythe School of Law at the College of William and Mary from 1993 to 1996, and the University of Virginia School of Law from 1995 to 2000, where he taught “Real Estate Transactions and Finance.”

Rogers is active in many bar and real estate security trade groups. He has served as chair of the Investment Program Association’s Section 1031 Exchange Committee; founding trustee, director and chair of the Legislative and Regulatory Committee of ADISA (formerly known as TICA); a member of the Board of Governors of the Virginia State Bar, Real Property Section; and a member of the Real Estate Committee of the American Bar Association’s Tax Section. He also served on the board of the Greater Richmond Association for Commercial Real Estate (GRACRE). Rogers has an AV Peer Review Rating and was named as one of the top lawyers in Virginia in 2006 and 2008. He has written and lectured widely on real estate, tax and securities topics.

Rogers was a finalist for the 2017 EY Entrepreneur of the Year Mid-Atlantic. In 2020, 2021, 2022. 2023 and 2024, he was listed as one of the most powerful and influential leaders on the Virginia 500 Power List by Virginia Business. He was awarded Real Estate Forum’s Best Bosses 2020 by GlobeSt., and in 2022 was not only recognized as an Influencer in Multifamily Real Estate by GlobeSt. Real Estate Forum but was also honored by the National MS Society as the 2022 recipient of the Frank N. Cowan Silver Hope Award, a recognition of community and humanitarian efforts, given to someone who strives to improve the quality of life today and create a better world tomorrow. In 2025, Rogers was additionally inducted into the VCU Real Estate Circle of Excellence.

Connect with Louis on LinkedIn

Interview Highlights:

Louis Rogers, co-founder and co‑CEO of Capital Square, has transformed the firm he launched in 2012 into a nationally recognized platform for tax‑advantaged real estate development, investment and management. With nearly $8 billion in assets under management, Rogers—an Oxford‑trained lawyer and former tax expert—now leads a vertically integrated operation across DSTs, Opportunity Zone developments, build‑for‑rent and REIT offerings.

Rogers began his career in tax law in 1984, quickly gaining recognition as a Section 1031 expert. As outside counsel and later president at Triple Net Properties, he helped structure over $4 billion in DST, TIC and REIT offerings, long before founding Capital Square in Richmond. OpportunityZones.com+15Capital Square+15AltsWire+15OpportunityZones.com+6Capital Square+6Capital Square+6

At Capital Square, Rogers built a three‑pillar strategy—Invest, Build, and Manage. From its roots as a Delaware Statutory Trust sponsor focusing on 1031 tax exchanges, the firm evolved to develop and own Class A and B multifamily properties in Southeastern and Mountain West markets. OpportunityZones.com+3Capital Square+3Virginia Business+3

Under Rogers’s stewardship, the firm has launched nine Opportunity Zone funds, with nearly 2,000 multifamily units across Virginia, North Carolina, South Carolina and Tennessee in the pipeline. Collectively valued at approximately $800 million, these include mixed-use projects featuring retail and amenity space. OpportunityZones.com+1Capital Square+1

In Richmond’s Scott’s Addition OZ district, Capital Square has delivered over 1,230 units across five buildings—including its latest project, Chasen, a 352‑unit Class A development funded through OZ Fund VII and scheduled for completion by mid‑2025. The firm has raised around $65 million equity for that fund alone. Capital Square+9Capital Square+9SQXAlts+9

In Knoxville, Capital Square topped out a 348‑unit Class A apartment project, Livano Knoxville, developed in partnership with LIV Development. This project includes workforce housing, and is expected to generate over 600 construction jobs, and nearly $3 million in construction‑phase tax revenue. Capital Square

Rogers has also expanded build‑for‑rent strategies—detached homes and townhomes in amenity-rich, gated communities—targeted at households priced out of ownership, particularly in fast-growing Sunbelt suburbs. Capital Square

In manufactured housing, Rogers is pioneering upscale modular neighborhoods that blend affordability with dignity, complete with landscaped lots and community facilities—mostly in Florida markets. Capital SquareLouis J Rogers website

Beyond building, Capital Square in 2024 launched its Capital Square Housing Trust (REIT), absorbing its best-performing DST assets through selective UPREIT transactions. Rogers says this structure allows DST investors lasting tax-deferral without forced participation, culminating in eventual tax forgiveness. Capital Square+4Capital Square+4Capital Square+4

Rogers has remained visible in national public policy forums, co‑hosting the Opportunity Zones & Multifamily Investing Summit in June 2025 and engaging with lawmakers including Senator Tim Scott’s office. The firm’s advocacy helps shape potential extensions and reforms to OZ legislation. OpportunityZones.com+1Capital Square+1

His annual firm letter highlights Capital Square’s industrial-strength infrastructure: a development pipeline exceeding $2.3 billion, a property management division overseeing 11,000+ apartments across 28 cities, and consistent industry recognition—from the Virginia 500 to Inc. 5000’s fastest-growing companies. Capital Square+2Capital Square+2Capital Square+2

Rogers is also a published author—his book How to Swap Till You Drop demystifies complex real estate tax strategies via accessible stories and clear explanations. All royalties support Richmond’s Children’s Hospital. Capital Square+1AltsWire+1

Under Rogers’s leadership, Capital Square now delivers on multiple fronts—delivering mixed-use OZ developments, build-for-rent housing, transformation through policy advocacy and sustainable wealth-building for investors. As he notes: “Our investor‑first approach, combined with vertical integration, sets us apart in delivering financial returns and community impact.”

Capital Square Founder Louis J. Rogers Authors Definitive Guide on Section 1031 Exchanges

Artistry at Winterfield Apartments

• CS1031 Artistry at Winterfield Apartments, DST
• Midlothian, Virginia
• Multifamily community with 200 units
• 15 minutes from downtown Richmond
• 24-hour state-of-the-art fitness center, resort-style pool, resident lounge and business center
• Quick access to Highway 288, the Midlothian Turnpike, and Huguenot Trail
• a short drive to major employers such as Capital One, CarMax Bon Secours, and Deloitte
• Close to academic institutions, including Crestwood Elementary, Tomahawk Creek Middle, Open High, and Strayer University
• The apartments are near Westchester Commons Shopping Center as well as Stonehenge Village, and within a 5-minute walk from Winterfield Place

Flats at West Broad Village Apartments

• CS1031 Flats at West Broad Village Apartments, DST

• Glen Allen, Virginia
• Apartment community with 339 units and 9,000 square feet of amenity space
• Completed in 2009
• Within walking distance of more than 400,000 square feet of retail space, including stores like Whole Foods, REI, Target and Home Goods.
• Flats at West Broad Village is near Innsbrook Office Park, a more than six-million-square-foot office park with major employers, including Capital One, Bon Secours Health System, Dominion Virginia Power and the corporate headquarters of Markel, a Fortune 500 company
• Located near U.S. Route 250 and Interstate 64

Lyric at Norton Commons Apartments

• CS1031 Lyric at Norton Commons, DST
• Prospect (Louisville MSA), Kentucky
• Mixed-use multifamily community with 273 units and 12,191 square feet of retail space
• Located within the 600-acre Norton Commons master-planned neighborhood, which features a 150-acre system of parks, squares, plazas, walking trails, recreational and civic amenities
• The lively Norton Commons town center is home to more than 90 businesses, including restaurants, shops, salons, and a post office
• The neighborhood also features three schools, a full-service YMCA and Saint Bernadette Church, home to over 6,600 members

Tapestry West Apartments

• CS1031 Tapestry West Apartments, DST
• Richmond, Virginia
• Multifamily apartment community with 262 units
• Completed in 2022
• The property is in close proximity to midtown Richmond and the emerging neighborhood of Scott’s Addition, which features 13 breweries, cideries and distilleries, as well as a host of restaurants, night spots and newly developed luxury multifamily communities
• Ready access to several Interstates, including I-64, I-95 and I-195

GEM

• CSRA Opportunity Zone Fund III, LLC
• 71 units
• Multifamily development
• Richmond, Virginia
• Co-working space, gym, amenity deck, a dog washing station, market-leading unit fixtures and finishes
• Corner lot with unobstructed views of Scott’s Addition and downtown Richmond

Maeve

• CSRA Opportunity Zone Fund VI, LLC
• Luxury multi-use high-rise
• Raleigh, North Carolina
• 297 apartment homes and more than 10,000 square feet of ground-floor retail space
• Approximately 30,000 square feet of amenity space
• Attached garage with multiple-floor access
• Sits at the epicenter of a thriving part of the city, within easy walking distance of multiple entertainment venues, cultural sites, nightspots and dining options, as well as the RedHat Amphitheater and Raleigh Convention Center

Otis

• CSRA/GS Opportunity Zone V, LLC
• Richmond, Virginia
• 350 Units
• Mixed-use multifamily development
• Six stories
• 13,000 square feet of retail
• 380 onsite parking spaces
• The project was developed by Greystar in partnership with Capital Square
• Received the 2024 CoStar Impact Award for multifamily development of the year

The Nickel Hotel

• CSRA Opportunity Zone Fund IV, LLC
• Charleston, South Carolina
• 52,700 square feet of space
• Five-story structure with 50 luxury apartment hotel units
• Street-front retail space
• 44 valet-operated parking spaces
• Lush courtyard that functions as an open-air living room
• Facade is a modern interpretation of the historic Victorian-era aesthetic prevalent in Charleston
• Rooftop lounge that is open to the public

Bedford Parke Apartments

• CS1031 Bedford Parke Apartments, DST
• Warner Robins, Georgia
• 232 units
• Capital Square originally acquired the property for $24.75 million in 2019 as sponsor of the DST/Section 1031 exchange program. As a result of the $38.3 million UPREIT transaction in 2024, the DST owners realized a 200% total return
• 277,240 rentable square feet of space
• Constructed in 2008, Bedford Parke Apartments was 94% occupied at the time of sale
• Bedford Parke is approximately one mile from Warner Robins’ primary retail corridor, which features numerous dining and retail options, including Target, Kroger, Walmart Supercenter and more

Saltmeadow Bay Apartments

• CS1031 Saltmeadow Bay Apartments, DST
• Virginia Beach, VA
• Four four-story residential buildings with 229 units
• The property features a one-mile hike and bike trail that leads to the Atlantic Ocean and is within the Virginia Beach Oceanfront Resort District, which features a three-mile boardwalk, several resorts, hotels, restaurants, retail and live entertainment

Sapphire at Centerpointe

• Midlothian, Virginia
• Multifamily community with 192 units
• Sapphire at Centerpointe is located directly off of Route 288, Richmond’s beltway, which provides residents quick access to Interstates 64, 95 and Powhite Parkway
• The property is approximately 18 miles from downtown Richmond and the Short Pump submarket

Capital Square is a vertically integrated, national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). The company is also an active developer and manager of multifamily communities. Since 2012, Capital Square has completed more than $7.9 billion in transaction volume. Capital Square’s mixed-use development projects total over 2,000 apartment units with a total development value in excess of $800 million, and Capital Square Living, the firm’s property management division, now manages over 13,000 apartments across multiple states. Capital Square’s related entities provide a range of services – including due diligence, acquisition, loan sourcing, property/asset management and disposition – for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. The company has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for eight consecutive years. Learn more at CapitalSq.com.

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