Capital Square Hits $1 Billion in 2025 Dispositions, Expands UPREIT and Opportunity Zone Footprint

Event summary

  • Capital Square surpassed $1 billion in total dispositions in 2025, including over $1 billion in multifamily transaction volume.
  • The company achieved record deliveries in Opportunity Zone developments, with four major projects totaling over $465 million in development cost.
  • Capital Square Housing Trust nearly doubled its gross asset value from $212 million to $388.9 million, expanding its portfolio by five properties.
  • The firm completed five UPREIT transactions, including two DST-to-UPREIT acquisitions and three unaffiliated whole-property UPREIT acquisitions.
  • Capital Square Living managed 13,273 units across 57 sites by year-end, operating in 23 markets across 34 cities in eight states.

The big picture

Capital Square's 2025 performance underscores its ability to execute across multiple tax-advantaged strategies, leveraging its vertically integrated platform to drive long-term value creation for investors. The firm's focus on Opportunity Zone developments and UPREIT transactions reflects broader industry trends toward tax-efficient real estate investments and portfolio consolidation. With over $7.9 billion in transaction volume since its founding, Capital Square has established itself as a significant player in the multifamily and commercial real estate sectors.

What we're watching

Execution Risk
Whether Capital Square can sustain its record-breaking pace of dispositions and development deliveries in 2026.
Investor Demand
How the firm's ability to attract and retain investors in its tax-advantaged strategies will evolve amid changing market conditions.
Geographic Expansion
The pace at which Capital Square will continue to diversify its geographic footprint, particularly in new markets like Tennessee.

Related topics

Expansion