Richmond, Virginia-based real estate investor and developer Capital Square named Jay Olander, a 40-year real estate veteran, as president and CFO on March 4.
Olander will also now serve as CFO and treasurer of Capital Square Apartment REIT, a real estate investment trust sponsored by Capital Square, of which he was previously an independent director.
“Jay has unrivaled expertise with REITs and in the multifamily sector,” said Louis Rogers, founder and co-chief executive officer of Capital Square, in a press release about the announcement. “He has started, grown, taken public and sold many multifamily REITs over the years.”
Before joining Capital Square, Olander was the founder, CEO and director of Tampa, Florida-based Landmark Apartment Trust before its acquisition by Starwood Capital Group and Milestone Apartments REIT, which took place in 2016 in an all-cash transaction valued at approximately $1.9 billion. Under Olander’s leadership, Landmark accumulated a multifamily portfolio of 24,000 apartment units throughout the South and Texas.
Previously, Oleander was CEO of Chicago-based Grubb & Ellis REIT Advisor and executive vice president of the multifamily division of the Grubb & Ellis Co., among other roles. Earlier, he was president, CFO and director of Richmond, Virginia-based Cornerstone Realty Income Trust, of which he oversaw the sale in 2005. Overall, Olander has been responsible for 75,000 apartment units across his career, according to the release.
Capital Square currently has eight development projects in progress across the southwestern U.S. totaling 2,000 units at a development cost of over $590 million, and has completed more than $7.8 billion in transactions over the past 12 years, according to the release.
“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 said in the release.
