Syndicated Equities, a sponsor of securitized 1031 exchange offerings, has purchased a 55,000-square-foot single-tenant medical office and training facility that is 100 percent leased to SSM Health Care in Fenton, Missouri.
SSM Health Care is a healthcare provider in St. Louis and the property is located across the street from one of its regional hospitals, SSM Health – St. Clare.
The property consists of two floors, each with an approximately 27,500-square-foot floor plate. SSM Health Care utilizes the first floor for medical office, including primary care, pediatrics, behavioral health, internal medicine, and a recently completed express care clinic. The second floor serves as a training and simulation center for its employees.
Syndicated purchased the property outright and structured its acquisition in a Delaware statutory trust to accommodate investors completing tax-deferred 1031 exchanges along with accredited cash investors. The acquisition was partially funded with a “low leverage” loan from Huntington National Bank.
“The property should provide investors with long term, stable cash flow from a high-quality tenant, and should benefit from continued demand given its strong location across from a regional hospital,” said Jason Schwartz, managing partner and chief operating officer.
In other company news, Syndicated Equities recently purchased a 110-space parking garage in Midtown Manhattan alongside Centerpark Realty, a New York City-based parking management and real estate firm.
Syndicated Equities provides accredited investors and family offices with commercial real estate investments. Since 1986, the firm has focused on co-investment ownership, net lease brokerage services, global real estate opportunity funds, and more recently, qualified opportunity zones. To date, Syndicated Equities has made more than 100 investments representing over $500 million of equity and $2 billion of total asset value.