Capital Square 1031, a sponsor of Delaware statutory trust offerings, has acquired two newly constructed medical buildings located in Round Rock (Austin) and San Antonio, Texas. The buildings are leased to NeuroRestorative for 15 years on an absolute net basis.
“Capital Square’s investors are becoming increasingly concerned about the U.S. economy entering a recession,” said Louis Rogers, founder and CEO of Capital Square 1031. “We like medical real estate because, in good and bad economic times, people need medical care. Capital Square is a long-standing investor in necessity-based medical real estate, which has proven to be recession resistant. Also, the properties are located in highly desirable markets in Texas, an income-tax free state that has experienced exceptional population growth, accelerating the need for medical services.”
The portfolio includes:
- 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, a suburb of Austin
- 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 purpose-built in 2018 for NeuroRestorative to use as a post-acute, neuro-rehabilitation facility. NeuroRestorative is a provider of subacute and post-acute rehabilitation services for people with brain, spinal cord and medically complex injuries, illnesses and other challenges.
Since inception, Capital Square has acquired 89 real estate assets for over 2,000 investors seeking quality replacement properties that qualify for tax deferral under Section 1031 of the Internal Revenue Code.
