WINCHESTER, Va., July 13, 2016 (GLOBE NEWSWIRE) -- Capital Square 1031 announced today 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.
Located at 38 W. Jubal Early Dr., 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 Care 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.”
Listed on both the Frankfurt Stock Exchange (FME) and New York Stock Exchange (NYSE:FMS), Fresenius is the world’s leading provider of products and services for people with chronic kidney failure. The company had a net revenue of approximately $16.7 billion for the fiscal year 2015. Fresenius is primarily engaged in providing kidney dialysis services and clinical laboratory testing; manufacturing and distributing products and equipment for kidney dialysis treatment; and providing other medical ancillary services. During 2014, the company cared for in excess of 283,000 dialysis patients in 3,349 proprietary clinics located in more than 45 countries worldwide. The company also operates more than 40 production sites, making Fresenius the leading provider of dialysis products including dialysis machines, dialyzers and disposable accessories.
About Capital Square 1031
Capital Square 1031 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. As of June 30, 2016, the company oversees a growing national portfolio of 50 real estate assets valued at approximately $485 million, based on investment cost. Louis J. Rogers, founder and chief executive officer of Capital Square, 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. To learn more, visit www.CapitalSquare1031.com.