Home News HC Government Realty Trust Buys VA Outpatient Clinic in Knoxville, Iowa

HC Government Realty Trust Buys VA Outpatient Clinic in Knoxville, Iowa

HC Government Realty Trust Inc., a Regulation A REIT that invests in federally-leased properties, has purchased a U.S. Department of Veterans Affairs Outpatient Clinic in Knoxville, Iowa.

HC Government Realty Trust Inc., a Regulation A REIT that invests in federally-leased properties, has purchased a U.S. Department of Veterans Affairs Outpatient Clinic in Knoxville, Iowa for approximately $7.2 million.

The Veterans Affairs Outpatient Clinic is an approximate 16,700-square-foot, single-tenant medical office building which was developed to meet the specific requirements of the U.S. Department of Veterans Affairs (VA). The property is 100 percent leased under a 15-year commitment ending in January 2032.

“This acquisition marks the first Veterans Affairs tenanted property in our portfolio,” said Ed Stanton, chief executive officer of HC Government Realty Trust and Holmwood Capital Advisors. “Additionally, this property replaces, in-part, the services the previous VA facility had offered for nearly 100 years to the surrounding community.”

HC Government Realty Trust acquires and operates built-to-suit properties leased to the United States of America “that fulfill mission-critical or direct citizen service functions” primarily located across secondary or smaller markets.

HC Government Realty Trust was formed in 2016 and oversees a portfolio of 14 single-tenant properties occupied by federal agencies, including the Drug Enforcement Administration, the Federal Bureau of Investigation, the Social Security Administration, and the Department of Transportation. The company is externally managed and advised by Holmwood Capital Advisors LLC and raised $6.1 million in investor equity as of December 31, 2017, according to a filing with the Securities and Exchange Commission.

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