Platform Ventures, a commercial real estate investment firm a sponsor of Delaware statutory trusts and other private placement offerings, has launched a new DST offering for a portfolio of nine outpatient dialysis facilities totaling 106,300 rentable square feet.
According to a filing with the Securities and Exchange Commission, Platform Ventures recently registered 1031 Xchange Trust II, a Regulation D 506(c) fund that seeks to raise $14.35 million in total equity from accredited investors. The minimum investment is $50,000.
The clinics are located in six states, including Washington, Virginia and West Virginia, each certificate of need states for dialysis facilities. A certificate of need is an endorsement that certain states require before approving the construction of a new health-care facility.
Each facility is fully net leased and operated by the industry’s largest renal care providers including DaVita, Fresenius and U.S. Renal Care.
Platform Ventures is partnering with operator, Elliott Bay Capital Trust, to perform asset and property management services for the portfolio.
Platform Ventures is a holding company that, through certain subsidiaries, invests in real estate, real estate operating companies, and real estate technologies. The company and its affiliates have more than $1.4 billion in assets under management as of December 31, 2018.