Capital Square 1031 Completes Virginia Medical Office DST Offering
July 18, 2016
Capital Square 1031 LLC, a sponsor of replacement property for Section 1031 exchanges, announced that its Delaware statutory trust offering, CSRA Winchester MOB DST, comprised of a 9,503-square-foot medical office condominium in Winchester, Virginia, has been fully subscribed by investors. The purchase price was not disclosed.
The single-story condominium is 100 percent leased to Bio-Medical Applications of Virginia and guaranteed by Fresenius Medical Care Holdings Inc. The unit was recently built-to-suit for Fresenius Medical Care, a wholly-owned subsidiary of Fresenius Medical Car AG & Co. KGaA. The property is striped with 31 surface parking spaces.
“This medical office unit, which is on a long-term triple net lease to a subsidiary of the world’s leading provider of dialysis products and services, was purchased in an all-cash transaction and was well-received by investors,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “We are pleased to complete this offering, the 19th DST Capital Square 1031 has closed since its founding in late 2012.”
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