Capital Square Names Industry Veteran Jay Olander as President & CFO
RICHMOND, Va. (Mar. 04, 2024) – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced today that Jay Olander has joined the company as president and chief financial officer. He also serves as chief financial officer and treasurer of Capital Square Apartment REIT, Inc., a real estate investment trust sponsored by the company. An established leader in the real estate industry with expertise in the REIT and multifamily sectors, Olander brings over 40 years of proven expertise to Capital Square.
“I am thrilled that Jay Olander, our colleague and friend, has joined the senior leadership at Capital Square,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Jay has unrivaled expertise with REITs and in the multifamily sector. He has started, grown, taken public and sold many multifamily REITs over the years. With his depth of experience, we aim to expedite the path Capital Square is on – to make Capital Square the best real estate company in the nation.”
Prior to joining Capital Square, Olander was an independent director of Capital Square Apartment REIT, Inc. and the managing partner of Cornerstone Realty Advisors, LLC. Previously, he was the founder, chief executive officer and a director of Landmark Apartment Trust, Inc., prior to its acquisition by Starwood Capital Group and Milestone Apartments Real Estate Investment Trust in an all-cash transaction valued at approximately $1.9 billion. Under Olander’s leadership, Landmark aggregated a multifamily portfolio that was ultimately comprised of 24,000 apartment units located throughout the Southern states and strategic Texas markets.
Previously, Olander served as chief executive officer of Grubb & Ellis REIT Advisor and as executive vice president of the multifamily division of Grubb & Ellis Company. He also served in various other capacities within the former international real estate services firm, including as chief executive officer, president and chairman of the board of directors of Grubb & Ellis Residential Management, Inc. Earlier in his career, Olander served as president and chief financial officer and a director of Cornerstone Realty Income Trust, Inc., a publicly traded apartment REIT listed on the New York Stock Exchange with a market capitalization of $1.5 billion. In 2005, he oversaw the sale of Cornerstone REIT. Olander has been responsible for the acquisition and financing of approximately 75,000 apartment units during his career.
“Since its founding in 2012, Capital Square has established itself as one of the country’s most prominent real estate investment, development and management firms, yet there remains a world of opportunity for this company,” said Olander. “I am honored to join this talented team of professionals and to help lead Capital Square forward to continued growth and greater success on behalf of our many partners and the thousands of individual investors and financial advisers we serve.”
Olander earned a bachelor’s degree in business administration from Radford University, a master’s degree in real estate and urban land development from Virginia Commonwealth University and completed the Harvard Business School Executive Education leadership program. Also, he is president and a board member of the Virginia Museum of Fine Arts Foundation and serves on the board of Greater Richmond SCAN.
About Capital Square
Capital Square is a vertically integrated 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 U.S., with eight current projects totaling approximately 2,000 apartment units with a total development cost in excess of $590 million. Since 2012, Capital Square has completed more than $7.8 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 seven 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. In 2023, Capital Square was recognized by the Richmond Times-Dispatch as one of the region’s “Top Work Places.” To learn more, visit www.CapitalSq.com.
Disclaimer: Securities offered through WealthForge Securities, LLC, Member FINRA/SIPC. Capital Square and WealthForge Securities, LLC are separate entities. There are material risks associated with investing in DST properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks, long hold periods, and potential loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, returns and appreciation are not guaranteed. IRC Section 1031 is a complex tax concept; consult your legal or tax professional regarding the specifics of your particular situation. This is not a solicitation or an offer to see any securities. Please read the Private Placement Memorandum (PPM) in its entirety, paying careful attention to the risk section prior to investing. Private placements are speculative. Diversification does not guarantee profits or protect against losses.
