When people hear the term “REIT specialist,” they often assume the role is purely transactional. Find a deal, underwrite it, close it, move on to the next one. In reality, sourcing high-quality multifamily assets for a growing REIT like Capital Square is far more relationship-driven, strategic, and long-term focused than most people realize.
My role sits at the intersection of developers, property owners, and institutional capital. Every day, my job is to identify opportunities where both sides can win. That means not just finding good properties, but finding the right partners and structuring deals in a way that aligns interests for years, not quarters.
What a REIT Specialist Actually Does
At Capital Square, my primary responsibility is helping grow our REIT portfolio through strategic acquisitions, with a particular focus on 721 exchanges, also known as UPREIT transactions. These structures allow property owners to contribute their real estate to our REIT in exchange for operating partnership units, rather than selling outright.
That nuance is important. Many of the owners I work with are not looking for a simple exit. They want liquidity, diversification, tax deferral, and continued participation in real estate without the day-to-day operational burden. Understanding those goals is just as important as understanding the real estate itself.
Being a REIT specialist means spending as much time listening as analyzing. Every property has a story, and every owner has a reason for considering a transaction. My role is to understand both before anything moves forward.
Sourcing Starts With Relationships, Not Listings
High-quality multifamily assets rarely come from public listings. The best opportunities are sourced through long-standing relationships with developers, owner-operators, and family offices who trust us enough to pick up the phone before taking a deal to market.
That trust is built over time. It comes from being transparent, responsive, and honest about what does and does not make sense. I spend a significant portion of my time meeting with owners, touring properties, and having conversations that may not result in a transaction for months or even years.
At Capital Square, we are not trying to win deals by being the highest bidder in every scenario. We focus on alignment. If an owner’s goals match what our REIT is built to do, that is when real value is created for both sides.
Evaluating Quality Beyond the Numbers
Strong underwriting is essential, but numbers alone do not make a high-quality asset. When evaluating multifamily properties, we look at fundamentals like location, market growth, asset quality, and operating performance. But we also look deeper.
Operational history matters. How has the property performed through different market cycles? What decisions were made during challenging periods? How is the asset positioned for long-term demand, not just short-term rent growth?
My background in property operations has shaped how I approach acquisitions. Having worked on the operational side, I understand how small decisions can compound over time. That perspective helps us identify assets that are not just attractive on paper, but resilient in practice.
Why UPREIT Transactions Are Central to Our Strategy
One of the most rewarding aspects of my role is educating owners about 721 exchanges and how they can be used strategically. Many owners are familiar with 1031 exchanges, but fewer understand how UPREITs can fit into long-term planning.
A 721 exchange allows owners to defer capital gains taxes while exchanging a single asset for a diversified interest in a larger REIT portfolio. It can also support estate planning, provide liquidity options over time, and reduce concentration risk.
At Capital Square, these transactions are not treated as one-off deals. They are partnerships. Owners become long-term participants in the REIT, benefiting from professional management, scale, and continued exposure to multifamily real estate.
Collaboration Across the Organization
Sourcing assets is never a solo effort. Once a potential opportunity is identified, I work closely with our acquisitions, legal, tax, and asset management teams to evaluate fit and structure the transaction properly.
This collaboration is one of Capital Square’s strengths. Every deal is viewed through multiple lenses to ensure it supports the REIT’s strategy and aligns with investor expectations. That process takes time, but it is critical to maintaining quality and consistency as the portfolio grows.
From initial conversation to closing, communication is constant. Owners are kept informed, questions are addressed directly, and expectations are clearly set. That approach reduces friction and builds confidence on both sides of the transaction.
What Owners Are Really Looking For
Most owners I speak with are not just asking, “What is my property worth?” They are asking bigger questions. How do I reduce risk? How do I plan for the next phase of my life or business? How do I stay invested without being overleveraged or overexposed?
Understanding those motivations shapes how we source and structure deals. Sometimes the right answer is moving forward. Sometimes it is waiting. Being willing to say no when something is not a fit is just as important as closing deals.
That mindset has helped me build lasting relationships and has contributed to Capital Square’s ability to source high-quality multifamily assets consistently.
A Long-Term View of Growth
At its core, my role as a REIT specialist is about connecting people, capital, and properties in a way that makes sense over the long term. Capital Square’s growth depends on discipline, trust, and a clear understanding of what we are trying to achieve.
Sourcing high-quality multifamily assets is not about chasing trends or volume. It is about patience, perspective, and partnership. When those elements come together, the results benefit everyone involved, from property owners to investors to the communities we serve.
That is what motivates me every day, and it is why I believe the REIT model, when executed thoughtfully, remains one of the most compelling structures in real estate today.