Capital Square 1031 has acquired a memory care facility in the greater Houston area. No financial terms were disclosed. Bear Real Estate Advisors represented Capital Square 1031 on the transaction.
HOUSTON, May 8, 2019 /PRNewswire/ — Bear Real Estate Advisors, a real estate investment services firm, announced today that it represented Capital Square 1031 in the investment sponsor’s acquisition of a new, 10,000-square-foot Class A memory care facility in greater Houston.
“Completed in April of this year, the property’s new construction, coupled with the rising demand for senior housing across the nation, positions it for investment success,” said Matt Bear, founder and chief executive officer. “Additionally, the tenant leases the property under an absolute net lease structure, leaving the landlord with zero responsibilities toward taxes, insurance, maintenance, repairs and capital improvements. This transaction perfectly demonstrates Bear Real Estate Advisors’ ability to source high-quality investment properties that are primed to meet the investment goals of our clients.”
Located at 2050 W. Lake Houston Parkway in Kingwood, Texas, the facility includes 16 beds and is leased on an absolute net basis to Village Green Alzheimer’s Care Home, an operator of memory care facilities in greater Houston.
“This is one of several assets that Matt Bear has sourced for us and once again, he was able to identify a premier asset and craft a business plan that was ideal for all parties involved,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “We are thrilled to add this to our growing investment portfolio and are pleased with the work that Matt and his team at Bear Real Estate Advisors has done for us.”
The Seller, Verdad Real Estate, was represented by Bill Pyle, vice president with Edge Realty Capital Markets.
The fifth largest MSA in the country, Houston has a resident population of approximately 6.9 million people. According to Mapping America’s Futures, the area’s population of those 65 years and older is projected to grow to more than 1.2 million by 2030, an increase of 148 percent from 2010.
Capital Square 1031 is a national real estate investment and management company that sponsors real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
About Bear Real Estate Advisors
Bear Real Estate Advisors, founded in 2018 and headquartered in Las Vegas, is a boutique real estate investment services firm that caters to investors looking for personalized service and real world, battle-tested acquisition and disposition advice. The firm focuses on Section 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, joint venture advisory, capital structure advisory, build-to-suit developments, debt/equity, specialized search and family office/professional investor buyside representation. For more information, go to www.bear-advisors.com.