Four Springs TEN31 Xchange has fully subscribed 1031 exchange offerings in FSC Healthcare III, DST and FSC Healthcare IV, DST — two medical office properties leased to BioLife Plasma Services and University of Iowa, respectively. The properties were valued at $32.6 million. Four Springs Capital Markets assisted with the distribution of the offerings.
FSXchange is a leading sponsor of Delaware Statutory Trust (DST) programs designed for investors participating in Section 1031 tax-deferred real estate exchanges. The company focuses its offerings on single-tenant, net-leased industrial, medical, retail and office properties.
“Demographic and healthcare industry trends show continued growth for the medical office sector,” said Coby Johnson, president and chief operating officer of Four Springs Capital Trust.
The FSC Healthcare III, DST property is an $8.4 million, 16,694-square-foot building that is 100 percent leased on a long-term NNN lease to BioLife Plasma service, a subsidiary of investment-grade guarantor Baxalta. FSC Healthcare IV, DST is a newly constructed $24.2 million, 61,067-square-foot medical office building that serves as an outpatient clinic for female healthcare. The property is 100 percent leased to University of Iowa Hospitals and Clinic on a 12-year NNN basis.
