Capital Square Promotes Adam Stifel to Chief Development Officer
RICHMOND, Va. (March 22, 2022) – Capital Square, a national investment sponsor specializing in tax-advantaged real estate offerings and real estate development, announced today that it has promoted Adam Stifel to chief development officer.
“It feels like we have gone from zero to 100 miles per hour in less than three years,” said Louis Rogers, founder and chief executive officer of Capital Square. “Adam Stifel has taken Capital Square to the next level. He has injected an unrivaled combination of energy and expertise from a growing team of the firm’s real estate developers. Adam Stifel has truly become Capital Square’s chief development officer in action and now it is reflected in title.”
Stifel joined Capital Square in 2019, when he helped create the company’s development platform as executive vice president of development. Stifel has launched 10 development projects with a total unit number of 1,693 and project value of approximately $584 million. Among these projects are seven mixed-use multifamily projects funded by Capital Square’s opportunity zone funds, including the three-part Scott’s Collection in Scott’s Addition neighborhood of Richmond, an iconic 297-unit luxury trophy tower in Raleigh, North Carolina, and a Class A housing community on Belmont Street in Washington, D.C.
Stifel also oversees Capital Square’s joint venture development projects. Among these are The Otis, a Class A multifamily community with ground-floor retail space, also located in Scott’s Addition. The Otis is being developed in partnership with Greystar Real Estate Partners, an international real estate developer and manager with approximately $32 billion in gross assets under management. Additionally, Capital Square has partnered with Washington, D.C.-based May Riegler Properties in the development of Steamboat Basecamp, a 119-unit mixed-use multifamily property in Steamboat Springs, Colorado.
Prior to joining Capital Square, Stifel founded CAS Riegler Companies (now May Riegler Companies) and Hook Properties, both full-service real estate development and asset management companies. Since 2009, Stifel has managed over $500 in multifamily development and the acquisition of retail, commercial, and office properties. He has extensive experience in developing Class A and B, market-rate apartments and condominium projects as well as the creation and syndication of low-income housing tax credits (LIHTC) and historic tax credits (HTC).
“I am very excited about my new role as Capital Square’s chief development officer,” said Stifel. “We couldn’t be more pleased about the outcome of our efforts in creating a first class development operation at Capital Square less than three years ago. Our achievements have been remarkable in such a short period of time. The development team has grown along with my responsibilities in leading the charge to further expand our footprint starting in the southeast and, now, around the country. I look forward to the future as CDO of Capital Square, and the continued success and growth of our business for many years to come.”
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. Since 2012, Capital Square has completed more than $4.9 billion in transaction volume. Capital Square’s executive team has decades of experience in real estate investments. 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. Since 2017, Capital Square has been recognized by Inc. 5000 as one of the fastest growing companies in the nation for five consecutive years. Additionally, in 2021, the company was ranked 101st on the list of Inc. 5000 Washington D.C. Metro’s Fastest-Growing Private Companies. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense’s list of fastest growing companies. Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” report in 2019 and 2021 as well as on their “Fantastic 50” reports in 2019 and 2020. To learn more, visit www.CapitalSquare1031.com.