October 18, 2019
Capital Square 1031 reports that CS1031 So Cal MOB, DST, comprised of three medical facilities located in Pasadena, Rancho Mirage and Azusa, CA, has been fully subscribed by Section 1031 exchange and other investors.
The portfolio includes:
1017-1035 S. Fair Oaks Ave., Pasadena, (23,687-square-foot building, pictured),
69780 Stellar Dr., Rancho Mirage (7,500-square-foot building) and
830 S. Citrus Ave., Azusa (11,331-square-foot building).
Capital Square’s Louis Rogers says, “Medical real estate dominates as a favorable and recession-resistant asset class. This portfolio was purchased primarily for Section 1031 exchangers as replacement property for another Capital Square DST offering that went full-cycle when the property was sold. This offering provides investors with ownership of high-quality, net leased medical real estate in premier Southern California locations, an opportunity that most investors would not have on their own.”
The leases are guaranteed by Synovation Medical Group, a pain management practice with more than 60 medical practitioners and 18 facilities throughout SoCal.