Capital Square Living announced the assumption of management of FarmHaus Apartments, a 324-unit Class A multifamily community located in the Huntsville suburb of Madison, Alabama. The property, the first Alabama community to join the Capital Square Living portfolio, is owned by a Delaware statutory trust sponsored by Capital Square.
“We are thrilled to include FarmHaus Apartments as the first Alabama community in the Capital Square Living portfolio,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “It represents a significant milestone in our expansion strategy, aligning perfectly with our mission to deliver excellent living experiences in high-quality multifamily properties.”
FarmHaus Apartments’ location along Highway 72 provides residents easy access to multiple job centers throughout the Huntsville area, including Redstone Arsenal, Cummings Research Park and the Mazda Toyota Manufacturing facility. FarmHaus is adjacent to the Clift Farm master development which contains numerous retail outlets and a 400,000-square-foot Publix.
“Capital Square’s vertically integrated business model has worked to improve the living experience of our residents and will continue to create more value for our investors as we expand our footprint into Tennessee, and subsequently into three additional states by fall 2024,” said Gus Remppies, multifamily veteran and president of Capital Square Living. “Capital Square Living provides the first-class amenities and superior customer support that our residents deserve and have come to expect.”
Capital Square Living launched in late 2022 as a wholly owned subsidiary of Capital Square, overseeing property management functions for the company’s growing multifamily portfolio. The firm currently oversees the management of 30 apartment communities comprised of approximately 6,500 units throughout the Southeastern United States.
Capital Square Living is in the process of assuming management of 45 multifamily communities comprising more than 11,000 units owned by Capital Square’s affiliated apartment REIT, DST programs and opportunity zone funds. In 2023, the firm added a total of 29 Virginia and Georgia properties to their portfolio from Capital Square and Capital Square Apartment REIT, Inc. Capital Square Living currently manages 30 residential communities comprised of more than 7,600 units.
By fall of 2024, Capital Square Living expects to manage over 45 residential communities comprised of more than 11,000 units in 18 markets across six states and 25 cities. The firm provides comprehensive, state-of-the-art management services, including operations, maintenance, employee development and training, customer service, revenue management, marketing, budgeting, leasing and resident retention.
