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| Louis Rogers |
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:
Julie Leber
Spotlight Marketing
Communications
949.427.5172, ext. 703
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