RICHMOND, Va., Oct. 2, 2014 (GLOBE NEWSWIRE) -- Capital Square Realty Advisors, LLC announced today that it has acquired a healthcare-related two-building portfolio located in the Richmond suburb of Mechanicsville, Va. and the Milwaukee suburb of Hartford, Wis.
"Each of these healthcare properties are on long-term leases to strong tenants who will benefit as the demand for healthcare continues to grow," said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. "The demographic aging of America and the impact of the Affordable Care Act makes quality healthcare real estate assets such as these attractive investments, and we're pleased to further expand Capital Square Realty Advisors' portfolio in this specialized sector."
The portfolio includes a built-to-suit 20,066-square-foot single-story medical office building that is 100 percent leased to Virginia Women's Center, the largest women's healthcare private practice in central Virginia. Located at 7515 Right Flank Road, the property is within one-mile of Richmond's award-winning Memorial Regional Medical Center. The 2.1-acre property, which was constructed in 2013, includes 103 surface parking spaces, and is located within The Shoppes at Bell Creek, comprised of office condominiums, free-standing office buildings, a veterinary hospital and retail stores. The Virginia Women's Center property is easily accessible via Interstate 295, Pole Green Road and Bell Creek Road.
The portfolio also includes 1550 Innovation Way in Hartford, Wis., a 73,756-square-foot, two-story building 100 percent leased to API Healthcare Inc., a GE Healthcare company. The organization is one of the country's largest healthcare workforce management solutions providers. The building was constructed in 2004 as a build-to-suit for API Healthcare's corporate headquarters, on approximately 21.8 acres in one of Washington County's most prominent industrial parks. Equipped with an on-site cafeteria and game room, the property is easily accessible via Highway 41.
About Capital Square Realty Advisors LLC
Capital Square Realty Advisors, LLC specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and discretionary (non-1031) investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive officer of Capital Square Realty Advisors, 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.