Capital Square 1031 names chief financial officer

Published June 24, 2016 by Robert Powell, III

Richmond-based Capital Square 1031 LLC has named Richard Stanard chief financial officer.

Stanard joins Capital Square 1031 from HITT Contracting Inc. where he was as CFO and treasurer for 13 years.

During his tenure, the company’s annual revenue rose to $1 billion from $200 million. Additionally, he helped create a privately-owned commercial real estate portfolio with a total capitalization of more than $700 million.

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, the company oversaw a portfolio of 40 real estate assets valued at about  $388 million, based on investment cost.