Capital Square Realty Advisors Completes DST Investment Offering of Medical Office Building Portfolio in Texas and South Carolina
RICHMOND, Va. (April 14, 2015) – Capital Square Realty Advisors, LLC announced today that its Delaware Statutory Trust investment offering, MOB Portfolio I, DST, comprised of two medical office buildings in Houston, Texas and Gaffney, S.C., has been fully subscribed by investors.
“This portfolio includes two quality medical office buildings 100 percent net leased on a long-term basis to stable tenants,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. “This is Capital Square’s 11th sponsored DST offering to be fully subscribed by investors. We are pleased to provide investors with the many benefits of owning investment-grade real estate in the medical sector through the DST structure.”
The single-story building located at 9551 Fannin St. in Houston is 100 percent leased to Mentis Neuro Rehabilitation. The organization provides post-acute neuro-rehabilitation to patients who have sustained an acquired brain injury or whose conditions restrict mobility, social interaction, communication, employability and re-entry into their homes and community. Constructed in 2008, the building was renovated and expanded in 2012 to meet increased patient demand. The building is situated on 2.7 acres of land and includes private patient rooms and bathrooms, administrative offices, a family counseling room, filing and IT room, neuropsychology room, student office, treatment room, occupational therapy space and speech therapy spaces. Other common areas include a gym, education room, recreational room, private dining areas and a day/dining room with a nurse’s station.
The second property in the portfolio, 722 Hyatt Street in Gaffney, S.C., is 100 percent leased to Novant Health and operates Novant Health Family Medicine and Novant Health Bone & Joint in the building. Through a sublease to Spartanburg Regional Hospital, the building also houses Gibbs Cancer Center & Research Institute. Situated on 8.6 acres of land, the building was originally constructed in 1996 and underwent an expansion and renovation in 2009. In 2011, more than 5,500 square feet of space underwent further renovation and an additional 3,015 square feet was added to the building.
About Capital Square Realty Advisors LLC
Capital Square Realty Advisors, LLC 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. Louis J. Rogers, founder and chief executive officer of Capital Square Realty Advisors, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DST, tenant-in-common, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.