Capital Square 1031 LLC, a sponsor of replacement property for Section 1031 exchanges, hired Richard Stanard to serve as chief financial officer.
Stanard joins Capital Square 1031 from HITT Contracting Inc., located in the Northern Virginia/D.C. area, where he spent 13 years as chief financial officer and treasurer. During his tenure, he was responsible for finance, accounting and treasury operations.
“Rick is a consummate professional with more than three decades of real estate experience in finance, capital and treasury operations,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “Rick joins Capital Square 1031 during a period of rapid growth, when key systems are being development for the acquisition, finance, management and ultimate sale of upwards of a billion dollars of real estate.”
Prior to HITT, Stanard served as vice president of financial services at The Robert Martin Company, a private real estate owner, developer and manager with more than seven million square feet of mixed New York commercial property. While with the firm, he supervised accounting, finance and IT operations. Previously, Stanard was a treasurer with First Winthrop Corporation in Boston, responsible for a six-million-square-foot acquisition and syndication valued at $757 million, and $336 million of private equity. He earned dual bachelor’s degrees with honors in accounting and finance from Southern Illinois University.
Capital Square 1031 specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. As of June 15, 2016, the company oversees a growing national portfolio of 40 real estate assets valued at approximately $388 million, based on investment cost.