Capital Square 1031 has acquired a medical office building near Bakersfield, California. No financial terms were disclosed. The building houses Sanderling Renal Services, which provides dialysis services.
BAKERSFIELD, Calif. (Dec. 7, 2017) – Capital Square 1031, a leading real estate investment and management firm specializing in Delaware statutory trust investments, has acquired a newly-constructed medical office building providing specialty dialysis services near Bakersfield, California.
Located at 711 Valley Blvd. in Tehachapi, California, the property is 100 percent leased on a long-term, absolute net basis with yearly rent escalations to Sanderling Renal Services, a healthcare firm specializing in dialysis and nephrology services. The building is conveniently located near the recently completed Adventist Health Tehachapi Valley hospital.
“Acquisition of the Tehachapi property marks Capital Square’s 20th medical office building under management and aligns well with our investment strategy of acquiring stable, high quality real estate assets,” says Louis Rogers, founder and chief executive officer of Capital Square 1031. “The building is poised for long-term stability due to the lack of competition, coupled with the growing demand for healthcare services in the area.”
The property was acquired on an all cash, no debt basis, as part of a Delaware statutory trust offering primarily for investors structuring Section 1031 tax-deferred exchanges. A growing number of high net worth investors are seeking quality Section 1031 replacement property on an all cash basis. This is Capital Square’s 40th DST offering and 60th property acquisition to-date.
Sanderling Renal Services is focused on providing convenient access to high quality dialysis and nephrology services in rural areas. With more than 25 years of combined experience, the executives at Sanderling are focused on providing products and services for people with end stage renal disease while establishing a trusted relationship with local hospitals ensuring the continuity of care for patients.
About Capital Square 1031
Capital Square 1031 is a national real estate investment and management company. The firm sponsors institutional-quality real estate exchange programs that qualify for tax deferral under Section 1031 of the Internal Revenue Code. Capital Square uses the Delaware Statutory Trust (DST) structure to make quality real estate available to a larger number of investors. Capital Square provides a range of services, including due diligence, acquisition, loan sourcing, property management/asset management, and disposition, for a growing number of high net worth investors, private equity firms, family offices and institutional investors. As of September 26, 2017, the firm oversees a growing national portfolio of 59 real estate assets valued at approximately $630 million (based on investment cost). In August 2017, Capital Square ranked 485th on the Inc. 5000 list of fastest growing companies, making it the top-ranking Richmond, Virginia-area company, with 925 percent three-year growth. In 2016, Capital Square was ranked as the second fastest growing company in the Richmond, Virginia area by Richmond BizSense. To learn more, visit www.CapitalSquare1031.com.