September 8, 2016
Capital Square 1031 LLC, a sponsor of replacement property for Section 1031 exchanges, purchased a newly constructed medical office building in Birmingham, Alabama. The purchase price was not disclosed.
Located at 3671 Roosevelt Blvd., the 8,140-square-foot dialysis clinic was built-to-suit for Fresenius Medical Care Trussville, a wholly owned subsidiary of Fresenius Medical Care AG & Co. The property is 100 percent leased on a triple net basis for a base term of 15 years, plus extensions.
“This medical office building is well-located in a vibrant area within the Birmingham metropolitan region, which has a population of more than 1.1 million, representing nearly 25 percent of the state’s total population,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.
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