Capital Square 1031 Fully Subscribes DST Offering of Texas Medical Portfolio
SAN ANTONIO (June 2, 2020) – Capital Square 1031, a leading sponsor of Delaware statutory trust (DST) offerings, announced today that CS1031 MOB TX V, DST has been fully subscribed. This Regulation D private placement is comprised of two newly constructed medical buildings located in the San Antonio and the Austin, Texas suburb of Round Rock.
“Medical real estate is one of the most desirable asset classes today because it is not correlated to the general economy and has proven to be recession-resistant,” said Louis Rogers, founder and chief executive officer. “Medical properties in prosperous submarkets of Texas are even more desirable due to a growing population in need of medical services and no state income tax. The package of two newly constructed medical properties built-to-suit for an established medical tenant in Austin and San Antonio explains why this offering was fully subscribed in record time.”
The medical portfolio is comprised of:
- 5150 N. A.W. Grimes Blvd., an approximately 15,000-square-foot, 16-bed facility situated on nearly 2.7 acres of land in Round Rock, and
- 18931 Hardy Oak Blvd., an approximately 20,000-square-foot, 24-bed facility situated on 2.6 acres of land in San Antonio.
Each property was built to suit in 2018 for NeuroRestorative’s use as a post-acute, neuro-rehabilitation facility. NeuroRestorative is the leading provider of subacute and post-acute rehabilitation services for people with brain, spinal cord and medically complex injuries, illnesses and other challenges, offering a continuum of care and rehabilitation options. The company provides specialized services for infants, children, adolescents, military service members and veterans. NeuroRestorative is a subsidiary of The MENTOR Network, the leading national provider of home- and community-based health and human services to individuals with intellectual, developmental, physical or behavioral disabilities and other special needs.
Since inception, Capital Square has acquired 107 real estate assets for over 2,500 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
About Capital Square
Capital Square is a national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges and qualified opportunity zone funds for tax deferral and exclusion. Capital Square has completed approximately $2 billion in transaction volume. Capital Square’s executive team has decades of experience in real estate investments. Its founder, Louis Rogers, has structured hundreds of investment offerings totaling in excess of $5 billion. Capital Square’s related entities provide a range of services, including due diligence, acquisition, loan sourcing, property/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. In 2017, 2018 and 2019, Capital Square was awarded by Inc. 5000 as one of the fastest growing companies. In 2017 and 2018, the company was also ranked on Richmond BizSense’s list of fastest growing companies. In 2019, Capital Square was listed by Virginia Business on their “Best Places to Work in Virginia” and “Fantastic 50” reports. To learn more, visit www.CapitalSquare1031.com.
- On June 2, 2020