Capital Square
Louis Rogers on Building a Legacy
Louis Rogers, founder and co-CEO of Capital Square, a Richmond-based real estate company, has led a fascinating life. Today, the seasoned attorney turned real estate executive and entrepreneur is ranked among the region's most powerful and influential leaders, as recognized by Virginia Business’ 2023 Virginia 500 Power List.
Born and raised in Smithfield, Virginia, ham capital of the world, Louis grew up in a house attached to his father's veterinary clinic. As the only veterinarian, his father treated all of the Smithfield pigs, as well as cows, horses, cats, and dogs. "When the doorbell rang in the middle of the night and someone had a sick animal, you got up and brought them in," recalls Louis. "My dad took care of them all. This clearly impacted Louis' strong work ethic and inspired his love of animals. He and his wife of over 40 years, Paula, live on a horse farm in Hanover County. In his free time, Louis enjoys competitive horseback riding.
Louis earned a bachelor's degree in political science from Northeastern University, followed by law degrees from Oxford University and the University of Virginia, before settling in Richmond to start his law career. Right out of the gate, Louis went to work in the tax department at lawfirm Hunton and Williams, now operating as Hunton Andrews Kurth.
It was here that Louis laid the foundation for Capital Square. He became a subject matter expert on Section 1031 exchanges, which Louis explains in simple terms: “Basically, when the time comes to sell an investment property, instead of paying the taxes, you structure the sale as a Section 1031 exchange to defer the taxes.”
Capital Square Living, the firm’s property management business that launched in 2023, expects to manage over 45 residential communities, comprised of more than 11,000 units, and to operate in 18 markets, 25 cities, and six states by fall 2024. Capital Square now has 300 employees and has been ranked on the Inc. 5000 list of the fastest-growing private companies in America for seven consecutive years.
Louis worked as a parter at the Hirschler Fleischer law firm for almost a decade before serving for several years as president of the largest sponsor of 1031 programs in the nation based in California. In 2012, he founded Capital Square, a prolific sponsor of 1031 replacement property and an active developer and manager of multifamily properties. Capital Square’s mixed-use developments include eight current projects in Richmond’s Scott’s Addition, as well as in Charleston, SC; Raleigh, NC; and Knoxville, TN. The projects total more than 2,000 luxury apartment units with a total development cost in excess of $600 million.A few years ago, a trusted, longtime colleague, TowneBank private banker Angie Collins, suggested that Louis move over to TowneBank. “Angie is the greatest; we’ve worked together for over a decade,” says Louis. “She’s the most caring, hardworking, knowledgeable banking officer you’ve ever seen.”
Louis feels that community banks like TowneBank play an important role in our economy. “Most banking is done at the community level, and so it’s important to have smaller banks that are more nimble and more closely aligned with the customers and the borrowers. TowneBank is phenomenal for community service and charitable work. Just look at all the great things they do to support every community they’re in.” Looking back at his career, Louis gives credit to the talented team he’s built, which includes his spouse, Paula, who runs the farm and home; daughter, Jacqueline Rogers, Capital Square’s chief communications and operating officer; son-in-law, Whitson Huffman, Capital Square’s co-CEO; and daughter, Alexandra Huffman, a managing director at Walker & Dunlop who sources debt for the firm’s investments. “Part of the magic has been bringing in people and allowing them to do their jobs, building a good team, being respectful and not micromanaging people who know what they’re doing.”
Getting the work done and done well has always been key for Louis Rogers. This kid from Smithfield went on to create a vertically integrated real estate firm that has become one of the nation’s leading sponsors of tax-advantaged real estate investments, and that is only part of the story of how Capital Square raises capital, buildings, and expectations. Everything the firm does focuses on building legacies for investors, team members, and communities. For Louis, his firm’s mission is very much his own – and that has made all the difference.
For more information, visit CapitalSq.com.
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The Otis is a 350-unit mixed-use multifamily development in Scott’s Addition that received the 2024 CoStar Impact Award for multifamily development of the year.
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