The company that specializes in DSTs and Section 1031 Exchanges, Capital Square Realty Advisors (Capital Square), has acquired a healthcare-related portfolio consisting of two properties.
One of the properties is located at 7515 Right Flank Road in Mechanicsville, Virginia and is a built-to-suit 20,066-square-foot single-story medical office building. The building is home to Virginia Women’s Center, which is central Virginia’s largest women’s healthcare private practice. Constructed in 2013, the building sits on 2.1 acres of land and includes 103 surface parking spaces.
The property is within a mile of Memorial Regional Medical Center, is easy to access from Interstate 295, and is part of The Shoppes at Bell Creek, which includes office condominiums, free-standing office buildings, retail stores, and a veterinary hospital.
In addition, Capital Square acquired 1550 Innovation Way in Hartford Wisconsin. The two-story building contains 73,756 square feet and is 100% leased to API Healthcare Inc., a GE Healthcare company, which is one of the nation’s biggest providers of healthcare workforce management solutions.
Built-to-suit for API Healthcare’s corporate headquarters in 2004, the building includes a cafeteria and a game room. It is situated on 21.8 acres in a prominent industrial park and is easily reached via Highway 41.
“Each of these healthcare properties are on long-term leases to strong tenants who will benefit as the demand for healthcare continues to grow,” commented Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. He continued, “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.”