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| Louis Rogers |
RICHMOND, Va. (March 14,
2017) – Capital Square 1031 announced today that its Delaware statutory trust
offerings, CS1031 Birmingham MOB, DST and CS1031 Kinston MOB, DST, each
comprised of a medical office building occupied by affiliates of Fresenius
Medical Care in Alabama and North Carolina, respectively, have been fully
subscribed by investors.
Capital Square 1031 has
closed 32 DST offerings since its founding in late 2012.
“Each of these offerings
include real estate occupied by the world’s leading provider of dialysis
services and products for people with chronic kidney failure, which has 2,249
dialysis clinics across North America,” said Louis Rogers, founder and chief executive officer of Capital Square
1031.
“Dialysis is the
life-saving process for artificially cleaning blood for patients with chronic
kidney disease. The properties are well-located near doctor’s offices and
hospitals, providing convenient access to patients, their caregivers and
healthcare providers.
“We are pleased to
complete these offerings and provide a growing number of investors with
ownership of investment-grade, recession resistant real estate.”
CS1031 Birmingham MOB, DST
acquired a newly-constructed, 8,140-square-foot medical office building that
was built-to-suit for Fresenius Medical Care. Located at 3671 Roosevelt Blvd.
in Birmingham, Alabama, the property is leased on a net basis for a base term
of 15 years, plus extensions. Capital Square leveraged the property for
exchange investors who need debt to obtain complete deferral under Section 1031
of the Internal Revenue Code.
CS1031 Kinston MOB, DST
acquired a 10,880-square-foot medical office building located at 604 Airport
Road in Kinston, North Carolina, a Certificate of Need state. The clinic, which
is one of the company’s largest dialysis clinics in North Carolina, is a flagship
location for Fresenius. Capital Square
acquired the property in an all-cash (no debt) purchase for exchange investors
who do not need debt to obtain deferral under Section 1031.
“A growing number of
exchange investors are seeking an all-cash, no debt, replacement property,”
said Rogers. “An ‘all-cash’ replacement
property was almost unheard of five years ago.”
For a complete copy of the company’s news release,
please contact:
Julie Leber
Spotlight Marketing
Communications
949.427.5172, ext.
703
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