Skip Navigation

Capital Square Launches CSRA Opportunity Zone Fund II, LLC

December 13, 2019

RICHMOND, Va. (Dec. 10, 2019) – Capital Square, a leading sponsor of tax-advantaged real estate investments, announced today the launch of a new qualified opportunity zone fund.  CSRA Opportunity Zone Fund II, LLC is a project-specific opportunity zone fund that is raising capital to develop Scott’s Collection II, a 60-unit, mixed-use multifamily property in the Scott’s Addition designated opportunity zone in Richmond, Virginia.

CSRA Opportunity Zone Fund II, LLC (“Fund II”) seeks to raise $6.35 million in equity from accredited investors. The fund has a minimum investment of 100 investor units or $100,000.

“Capital Square is launching Fund II following the successful fundraising for Fund I,” said Louis Rogers, founder and chief executive officer of Capital Square. “Both funds are project-specific opportunity zone funds that qualify for tax deferral and exclusion under the Tax Cuts and Jobs Act of 2017. Fund I and Fund II are developing apartment communities in the Scott’s Addition neighborhood of Richmond, Virginia, a short distance from Capital Square’s headquarters.  With a seasoned in-house development team led by Adam Stifel and Jake Baum, Capital Square welcomes the opportunity to construct properties in our own back yard.”

Located at 2900 – 2904 West Clay St., Scott’s Collection II is a single-structure, ground-up development that will include:

  • a five-story, Class A multifamily community with 60 units,
  • private unit balconies and lobby area,
  • a wood-framed building situated above a concrete podium, and
  • 50-55 onsite parking spaces.

Established in 1901, Scott’s Addition is a historic area that is located in a designated opportunity zone. Scott’s Addition is the fastest growing neighborhood in Richmond and the second-highest performing market with 97.6% occupancy, according to Yardi Matrix. Apartment rental rates are projected to increase 3% to 4% per year for five years between 2020 and 2024, according to Yardi Matrix.

“Scott’s Addition is an ideal place to develop due to its surging growth, booming economy and limited number of competing apartments,” said Adam Stifel, executive vice president of development. “We are pleased to drive growth to the local Richmond economy through our second development in the area.”

In July 2019, Capital Square announced the launch of CSRA Opportunity Zone Fund I, LLC to develop Scott’s Collection I, a single-structure, ground-up development that will include a five-story, Class A multifamily community with 80 units. Scott’s Collection II will be adjacent to Scott’s Collection I.

Opportunity zones were created to stimulate long-term private investments in low-income urban and rural communities nationwide. Conceived as part of the Tax Cuts and Jobs Act of 2017, opportunity zone funds are intended to help foster economic growth by providing tax benefits to incentivize private investments in designated opportunity zones.


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. Capital Square has completed more than $1.6 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


Corporate Responsibility & Sustainability Initiatives

Our elevated focus on corporate responsibility and sustainability furthers our commitment to environmental stewardship and community well-being.

Join the Capital Square Team

Our culture of collegiality and family-oriented values is a competitive advantage, and our team members are individuals at the top of their respective fields.