September 11, 2018
Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust offerings, has purchased a newly-constructed, 10,000-square-foot memory care facility located in the Houston suburb of Spring, Texas.
The Class A facility has 16 private suites and was completed in June 2018. The property is leased for 15 years on an absolute net basis to Village Green Alzheimer’s Care Home with a personal guarantee from the owners of the practice for the entire term of the lease.
“This memory care facility was purchased in an all-cash transaction for a Delaware statutory trust offering, providing investors with the opportunity to own the real estate without any mortgage debt,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “Additionally, because Texas does not have an income tax, investors in the DST will not pay any state income taxes.”
Village Green Alzheimer’s Care Home specializes in the care of seniors who have Alzheimer’s, dementia and other memory impairments. The facility was constructed with secure exterior doorways, increased space for activities inside and outside the community, as well as a courtyard and independent areas. Additional community amenities include security, a 24-hour staff, wheelchair accessible showers, swimming pool, and hot tub.
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