Capital Square Living, the wholly owned multifamily property management subsidiary of Capital Square, has taken on the responsibility of managing four Virginia multifamily communities with a total of 1,040 units. These properties include Saltmeadow Bay Apartments in Virginia Beach and Sapphire at Centerpointe in Midlothian’s Richmond suburb. Both are owned by Capital Square Apartment REIT Inc., a private non-traded real estate investment trust (REIT) sponsored by Capital Square that mainly invests in multifamily properties located primarily in the Southeast and Texas regions. The remaining two managed properties are Streets of Greenbrier Apartments situated in Chesapeake and Flats at West Broad Village Apartments located near Glen Allen. Both these complexes are part Delaware statutory trusts sponsored by Capital Square as well.
At present, 45 multifamily communities comprising approximately 11000 units have been identified for management responsibilities to be assumed by CapitalSquareLiving under its affiliated apartment REITs (Real Estate Investment Trusts), DST programs (Delaware Statutory Trusts) and Opportunity Zone Funds respectively .
