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JACQUELINE ROGERS 

Jacqueline Rogers’ career arc has included executive stints at marquee companies such as Amazon.com and Lyft, as well as handling marketing, advertising and strategy efforts for brands like Marriott and Hilton.

“These experiences were thrilling and highly educational,” she says, “but they also made me realize that I craved a role where I could create a deeper, more enduring impact.”

As COO of the real estate investment company founded by her father, Capital Square co-CEO Louis J. Rogers, Jacqueline Rogers has been able to create that impact. Capital Square “is not just about business growth but about creating sustainable value that enriches lives,” she says. “It is committed to something bigger than itself.”

Rogers is especially proud of her leading role in five major mixed-use projects in Richmond’s Scott’s Addition area, where Capital Square has been the largest multifamily property developer, investing more than $260 million. The projects, including luxury apartment buildings Ink, Viv and Gem, have generated 1,483 construction jobs, 63 full-time jobs and $17.4 million in annual local tax revenue.

She also has been instrumental in developing Capital Square’s charitable arm, Capital Square Cares, which largely focuses on supporting children and teens through partnerships with charities such as the Children’s Hospital of Richmond at VCU, March of Dimes, Little Hands Virginia, and World Pediatrics. 

“Being a woman in leadership is not just about being a leader — it’s about leaving a lasting, positive impact,” Rogers says. “With each door we break open, we aren’t just paving the way for future women leaders, but encouraging societal shifts towards acceptance, inclusion, and respect.”

RELATED STORY: 2024 Virginia Women in Leadership Awards

400-unit apartment complex sells for $84M in Norfolk

A 400-unit apartment community in Norfolk sold for $84 million, according to a late May news release from Croatan Investments.

Originally built in 1991, the garden-style apartment community, Park Crescent, had 454,735 rentable square feet at the time of sale, according to Croatan.

FPA Multifamily purchased the property from a joint venture of Croatan and JSB Capital Group. The joint venture has invested in three properties, and the Park Crescent sale is their second sale.

The partnership bought the property in January 2019, and paid $57.2 million for it, according to Norfolk property records. The team renovated 139 units; made repairs to the roof, elevators and pool area; and added an arcade center and a dog park.

Founded in 2004, Virginia Beach-based Croatan Investments is a private equity real estate manager that focuses on rental housing investments. The firm’s portfolio is made up of multifamily assets across the mid-Atlantic and Sun Belt regions.

Marwaha adds Petersburg apartments to portfolio

Henrico County-based real estate investment and management company Marwaha Investments purchased a 34-unit apartment building across the street from its other properties in Petersburg and intends to rebrand it as part of Dunlop Street Lofts.

The nearly 35,000-square-foot building, located at 310 N. Dunlop St., has apartments between 600 and 1,000 square feet. Marwaha, which bought the property for $3.1 million from an investor in Virginia Beach, plans to renovate the apartments into Class A properties. The work will completed in the next 60 to 75 days, including improving the drainage system to prevent flooding in lower-level apartments; the roof has already been replaced. The building is currently 83% occupied.

Tom Rosman, Ryan Rilee and Justin Sledd of One South Commercial represented Marwaha in the deal.

The acquisition is part of a larger plan for Marwaha.

In January 2023, Marwaha Investments purchased several buildings including Dunlop Street Lofts at 214 Dunlop St., Union Street Lofts, Market Street Lofts and South Street Lofts for $17 million, from RREAF Holdings, a Texas real estate investment trust. The building at 214 Dunlop St. has 64 units between 500 square feet and 1,200 square feet each, ranging from studios to one-bedroom and two-bedroom apartments.

“Our plan has been to increase the operational efficiency of the building and providing comfortable and Class A apartments to our residents,” Gagan Marwaha, principal of Marwaha Investments, told Virginia Business. “We have spent [$500,000] on deferred maintenance such as roofs, HVAC, landscaping, updating some of the apartments with Class A finishes, lighting [and] updating [the] security system, elevator and sprinkler system.”

Renovations to 214 Dunlop St. were completed in July 2023.

Marwaha has increased occupancy from 66% to 97% as of Jan. 5 and has plans to expand the property by acquiring a 1.5-acre adjacent parcel at the corner of Dunlop and Commerce streets and converting it into a community part for its residents. It will have a dog park, children’s park, grills and open areas and will be accessible to all 10 buildings in Petersburg, Marwaha said.