Capital Square Partners with Esusu to Expand Corporate ESG Program with Rent Reporting and Relief Programs for Multifamily Residents
RICHMOND, Va. (June 30, 2022) – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of mixed-use multifamily communities, announced today that it has partnered with Esusu, a financial technology company advancing rent reporting and data solutions for credit building. As a result of the partnership, Capital Square will empower its residents to improve their credit scores through rent reporting and provide the opportunity to apply for 0% interest rent relief funds when families encounter financial hardship that impacts their ability to meet contractual rent obligations.
“This is a powerful expansion of Capital Square’s rent reporting and relief program for thousands of multifamily residents and expansion of our commitment to ESG,” said Louis Rogers, founder and chief executive officer of Capital Square. “It is a win-win that benefits residents while improving the stability and occupancy of multifamily communities.”
Capital Square currently manages a multifamily portfolio totaling approximately 12,000 units across 47 properties in nine states. The multifamily portfolio has averaged 96% occupancy and 99% rent collection during 2022, as of May 30, 2022. Capital Square also is an active developer of multifamily communities throughout the Southeast, with eight communities totaling 1,520 apartment units currently under development.
“Adoption of the Esusu platform clearly underscores Capital Square’s partnership with thousands of residents,” said Whitson Huffman, chief strategy and investment officer. “It will strengthen residents’ ability to improve their financial health and long-term wealth accumulation, while strengthening the financial underpinnings of Capital Square’s multifamily portfolio.”
In the midst of a nationwide housing shortage and an economy suffering from high inflation, nearly 45 million Americans find themselves credit invisible or credit thin, leaving them with few options available to access attractive financing to improve their quality of life. Capital Square is enabling Esusu’s rent reporting platform at no cost to its multifamily residents. Residents will have their rent payment history reported to the three major credit reporting companies, Experian, Equifax and Transunion. Esusu’s service only reports on-time rent payments, helping residents establish and improve their credit scores and long-term ability to generate wealth. For renters who encounter temporary financial challenges, the platform provides the opportunity to apply for 0% interest rent relief loans that help residents meet their rent obligations and avoid eviction.
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, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). In recent years the company has become an active developer of mixed-use multifamily properties in the southeastern US, with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $600 million. Since 2012, Capital Square has completed more than $5.9 billion in transaction volume. 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 four consecutive years. In 2017, 2018 and 2020, the company was also ranked on Richmond BizSense’s list of fastest growing companies. Additionally, Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” report in 2019 and their “Fantastic 50” reports in 2019 and 2020. To learn more, visit www.CapitalSq.com.
Esusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu’s rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 2.5 million rental units across all 50 states in the United States. Learn more at www.esusurent.comand follow us on Facebook @myesusu and on Twitter @getesusu.