Friday, February 3, 2017
Capital Square 1031 Acquires Medical Office Building Near Raleigh, North Carolina in All-Cash/No Debt DST
RALEIGH, NC – Capital Square 1031 announced the company has acquired a newly-constructed medical office building located in the Raleigh suburb of Louisburg, North Carolina.
The building is 100 percent leased to an affiliate of Fresenius Medical Care, the world’s leading provider of dialysis products and services.
Located at 935 North Main St., the 8,200-square-foot, single-story building was built-to-suit for Fresenius as a dialysis clinic. The company took occupancy of the property in October 2016, and leases it on a double net basis for a base term of 15 years, plus renewal options.
“We are pleased to add this medical office building to our growing portfolio of assets under management, which now includes 17 medical office buildings, and has a total value of approximately $571 million, based on investment cost,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.
“These clinics are operated by a strong tenant, whose parent company, Fresenius Medical Care AG & Co. KGaA, reported a net revenue of approximately $16.7 billion for fiscal year 2015.”
The medical office building was acquired on an all-cash, no debt basis as part of a Delaware statutory trust offering, CS1031 Louisburg MOB, DST.
Rogers added, “This is Capital Square’s 36th DST offering and the third all-cash, no debt DST offering, which is a fairly new phenomenon for 1031 exchange investors that prefer a debt-free replacement property.”
For a complete copy of the company’s news release, please contact:
Spotlight Marketing Communications
949.427.5172, ext. 703
Posted by Alex at 1:45 PM