RICHMOND, Va., May 5, 2020 /PRNewswire/ -- Capital Square, a national investment sponsor specializing in tax-advantaged real estate offerings, announced today that Michael Ollinger has joined the firm as vice president of construction management.
"Capital Square is a prolific buyer of Class B multifamily properties for its Section 1031 exchange/DST offerings," said Louis Rogers, founder and chief executive officer of Capital Square.
A key feature of Capital Square's Class B strategy is to upgrade properties during the holding period, ranging from light apartment unit upgrades to larger projects designed to mirror the amenities of more expensive Class A properties. By adding value to the properties, Capital Square increases the net operating income and, thereby, increases the value of the property. In addition, Capital Square constructs new Class A multifamily properties for its opportunity zone funds and traditional development strategies.
Rogers added, "With Michael's in-depth construction experience, Capital Square will be able to better evaluate and underwrite its pipeline of Class B acquisitions that benefit from the company's value-add strategy. Also, he will be instrumental in building Class A multifamily communities for our new development projects."
In his new role, Ollinger leads construction management at Capital Square for both existing assets and new development. Throughout his 14-year career, he has supervised the design and construction of more than 4.5 million square feet of commercial space across the U.S. He has experience with multifamily, mixed-use, hospitality, office, retail, educational, healthcare and industrial real estate projects.
"Michael brings to Capital Square broad experience in all facets of commercial real estate development, construction and design management, operations and marketing," said Adam Stifel, executive vice president of development with Capital Square. "I am thrilled to welcome Michael to our growing development team."
Prior to joining Capital Square, Ollinger served as a design and construction consultant for Diamond Rock Hospitality Company, a publicly traded REIT with a portfolio of 31 hotels and resorts. Previously, he was managing director and partner at Northpoint Services, a leading third-party development and construction management firm based in Washington, D.C. From 2010 to 2017, Ollinger served as assistant vice president at David Orr Associates. He began his career in 2006 with Campbell & Woodruff P.C.
Ollinger earned a bachelor's degree from the University of Virginia and a master's degree from Georgetown University. He holds a Class A Residential Building Construction license in Virginia.
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. To date, Capital Square has completed approximately $2 billion in transaction volume. Capital Square's executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. 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. In 2017, 2018 and 2019, Capital Square was awarded by Inc. 5000 as one of the fastest growing companies. In 2017 and 2018, the company was also ranked on Richmond BizSense's list of fastest growing companies. In 2019, Capital Square was listed by Virginia Business on their "Best Places to Work in Virginia" and "Fantastic 50" reports. To learn more, visit www.CapitalSquare1031.com.
SOURCE Capital Square