Capital Square Debuts Completed Opportunity Zone Development, The Nickel Hotel in Historic Charleston

CHARLESTON, S.C., June 17, 2025 /PRNewswire/ -- Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced today the opening of The Nickel Hotel in Charleston, South Carolina. The name of the hotel is derived from the French expression "C'est Nickel," which means "it's impeccable."

Development of The Nickel Hotel was funded by Capital Square's fourth qualified opportunity zone fund, CSRA Opportunity Zone Fund IV, LLC, as well as proceeds from Method Co., the project's co-developer and operator.

"Charleston's blend of historic charm and coastal beauty make it an ideal setting for a project as thoughtfully designed as The Nickel Hotel," said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. "Capital Square is proud to partner with nationally recognized hospitality company Method Co., as well as renowned New York-based architect Morris Adjmi Architects, to deliver a boutique hospitality experience that draws inspiration from the city's roots while offering modern luxury. The Nickel Hotel reflects our broader mission to invest in exceptional properties that honor their surroundings and provide lasting value for both guests and investors."

Completed spring 2025, The Nickel Hotel takes design cues from the ornate ironwork that embellishes the gates, passageways, historic homes and many churches found in Charleston, also known as "The Holy City." The five-story project features 50 units, including two penthouse suites. Each unit features a full-size kitchen, custom wood vanities, marble countertops and a washer and dryer. Select rooms present arched, floor-to-ceiling windows, while many others include double French doors that open to private balconies. A lush, interior courtyard; a private guest lounge; and gourmet rooftop bar and lounge, Rosemary Rose, additionally complement the total guest experience. The street-level retail space on historic King Street is leased to Greyson Clothiers, a premier lifestyle apparel brand.

Conceived as part of the Tax Cuts and Jobs Act of 2017, qualified opportunity zone funds are intended to help foster economic growth by providing tax benefits to incentivize private investments in designated opportunity zones.

"Capital Square is thrilled to deliver The Nickel Hotel in Charleston, the home of Senator Tim Scott, a co-author of the opportunity zone legislation," said Louis Rogers, founder and co-chief executive officer of Capital Square. "This revitalization of North King Street supports the legislative intent of driving economic growth in a qualified opportunity zone. Capital Square is pleased to be a part of this exciting revitalizion of what had been a lagging neighborhood."

Capital Square's opportunity zone developments provide real benefits to the communities where they are built, according to an economic impact report by FTI Consulting, an independent business consulting firm and global management advisory. Their "Executive Summary" estimates that Capital Square's first nine opportunity zone developments have supported over 7,500 jobs and generated over $1.2 billion in economic output during the construction phases. In addition, these projects are estimated to support over $760 million in regional gross domestic product and over $160 million in federal, state and local taxes during construction. On an annual basis, these projects are expected to support over 340 jobs and generate combined tax revenues of nearly $17 million during operations.

FTI Consulting's analysis reports that The Nickel Hotel supported an estimated average of 250 jobs annually during construction, generated $1.6 million in state and local tax revenue during construction and is projected to contribute $1.9 million to GDP through building operations in 2025 alone.  

About Capital Square
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.

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. Diversification does not guarantee profits or protect against losses. FINRA Broker Check link: https://brokercheck.finra.org/.

SOURCE Capital Square