Capital Square Realty Advisors LLC, a sponsor of Delaware statutory trusts, acquired a newly-constructed 19,855-square-foot medical rehabilitation facility in El Paso, Texas that is 100 percent leased to Mentis Neuro El Paso LLC. The purchase price was not disclosed.
Located at 4360 Doniphan Drive, the single-story building was designed and built especially for Mentis Neuro El Paso for use as a rehabilitation facility. The specialized building was completed in 2015 and is situated on 2.6 acres of land, which includes 46 parking spaces. The facility includes a therapy gym, full-service kitchen, outdoor patio and living areas.
“This brand new, high quality medical facility is leased on a long-term triple net basis to an established tenant that outgrew its previous location,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. “With healthcare expenditures expected to reach $4.8 trillion by 2021 and an aging American demographic, healthcare assets like this one are an excellent investment for Capital Square’s growing number of investors nationwide.”
Mentis Neuro El Paso is a wholly-owned subsidiary of Mentis Neuro Rehabilitation LLC, which provides high level post-acute neurorehabilitation. The organization helps people return to their homes, community and employment following a brain injury or condition that led to restricted mobility, social interaction, communication or employability.
Capital Square Realty Advisors, LLC specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and cash (non-1031) investors using the Delaware Statutory Trust structure. Since its founding in December 2012, Capital Square Realty Advisors has acquired approximately 40 real estate assets valued at approximately $365 million, based on investment cost.