May 5, 2020
Capital Square, an investment sponsor specializing in tax-advantaged real estate offerings, has hired Michael Ollinger as vice president of construction management.
In his new role, Ollinger leads construction management at Capital Square for both existing assets and new development. Throughout his 14-year career, he has supervised the design and construction of more than 4.5 million square feet of commercial space across the U.S., and has experience with multifamily, mixed-use, hospitality, office, retail, educational, healthcare and industrial real estate projects, the company said.
“Capital Square is a prolific buyer of Class B multifamily properties for its Section 1031 exchange/DST offerings,” said Louis Rogers, founder and chief executive officer of Capital Square.
A feature of Capital Square’s Class B strategy is to upgrade properties during the holding period, ranging from light apartment unit upgrades to larger projects designed to mirror the amenities of more expensive Class A properties.
Capital Square indicated that by adding value to the properties, it can increase the net operating income and value of the property. In addition, Capital Square constructs new Class A multifamily properties for its opportunity zone funds and traditional development strategies.
Rogers added, “With Michael’s in-depth construction experience, Capital Square will be able to better evaluate and underwrite its pipeline of Class B acquisitions that benefit from the company’s value-add strategy. Also, he will be instrumental in building Class A multifamily communities for our new development projects.”
Prior to joining Capital Square, Ollinger served as a design and construction consultant for Diamond Rock Hospitality Company (NYSE: DRH), a publicly traded real estate investment trust with a portfolio of 31 hotels and resorts.
Previously, he was managing director and partner at Northpoint Services, a third-party development and construction management firm based in Washington, D.C. From 2010 to 2017, Ollinger served as assistant vice president at David Orr Associates. He began his career in 2006 with Campbell & Woodruff P.C.
Ollinger earned a bachelor’s degree from the University of Virginia, a master’s degree from Georgetown University, and holds a Class A Residential Building Construction license in Virginia.
To read the full article, click here.
- On May 5, 2020