Capital Square, a sponsor of tax-advantaged real estate investments, expanded its sales team to add James Brunger as executive vice president of national sales and Jennifer Middaugh as senior regional vice president of Mid-Atlantic sales.
In their new roles, Brunger will oversee Capital Square’s sales team and Middaugh will be responsible for sales in the Mid-Atlantic. Margo Steahly, who has been with Capital Square since 2018, has been promoted to senior vice president of national accounts.
With a background in the real estate and financial services industries, Brunger previously served as a senior vice president at LaSalle Investments, a wholly owned subsidiary of Jones Lang LaSalle, where he was responsible for managing the sales of real estate investment trusts and other real estate-related products throughout the eastern U.S.
Prior to JLL, Brunger served as national sales manager for Sterling Foundation Management, where he oversaw a team of professionals assisting family offices and ultra-high-net-worth individuals in the formation and management of private family foundations, donor advised funds and charitable trusts.
Brunger’s career has also included time as a regional vice president at New York Life/MainStay Investments, regional vice president at Fidelity Charitable Services, and as a regional consultant at Fidelity Investments Institutional Services. He holds the Chartered Advisor in Philanthropy designation from the American College and FINRA Series 6, 7 and 63 licenses. He earned a bachelor’s degree from the University of Vermont.
Middaugh joins Capital Square to lead and oversee the sales efforts of independent financial advisors and registered investment advisors in the Mid-Atlantic region on behalf of the company’s platform of investment products.
She began her career dedicated to alternative real estate investing and financial strategies in 2001, and prior to Capital Square, held similar sales positions at Inland Securities, Provasi Capital Partners, and Griffin Capital Securities, according to her LinkedIn profile.
She holds a bachelor’s degree from the University of Maryland and a master’s degree from Georgetown University McDonough School of Business, and maintains FINRA Series 7 and 63 securities licenses.
In addition, the firm disclosed that it raised more than $235 million in equity for its Section 1031 exchange-eligible Delaware statutory trust offerings and qualified opportunity zone funds in 2019, resulting in more than $505 million in 10 DST offerings and three opportunity zone offerings, based on investment cost.
“Capital Square had a record year in 2019, with nearly 500 investors participating in DST and opportunity zone investments,” said Louis Rogers, founder and chief executive officer of Capital Square. “Moving up the national rankings to become the fourth largest sponsor according to Mountain Dell’s year-end report is the icing on the cake.”
He added, “We also completed a record year for the sale of DST properties, and participating investors realized an average 13.16 percent internal rate of return for the five DST offerings taken full-cycle during the year.”
Capital Square specializes in tax-advantaged real estate offerings, including Delaware statutory trusts and qualified opportunity zone funds, and has completed more than $1.85 billion in transaction volume. The firm’s related entities provide due diligence, acquisition, loan sourcing, property/asset management, and disposition, for high net worth investors, private equity firms, family offices and institutional investors.