June 3, 2020
Capital Square 1031, a sponsor of Delaware statutory trust offerings, has fully subscribed CS1031 MOB TX V DST, a Regulation D private placement offering comprised of two newly constructed medical buildings located in the San Antonio and the Austin, Texas suburb of Round Rock. The company raised nearly $13 million from accredited investors.
“Medical real estate is one of the most desirable asset classes today because it is not correlated to the general economy and has proven to be recession-resistant,” said Louis Rogers, founder and chief executive officer. “Medical properties in prosperous submarkets of Texas are even more desirable due to a growing population in need of medical services and no state income tax.”
The medical portfolio is comprised an approximately 15,000-square-foot, 16-bed facility on nearly 2.7 acres of land in Round Rock, and an approximately 20,000-square-foot, 24-bed facility on 2.6 acres of land in San Antonio.
Each property was built to suit in 2018 for NeuroRestorative’s use as a post-acute, neuro-rehabilitation facility. NeuroRestorative provides rehabilitation services for people with brain, spinal cord and medically complex injuries, illnesses and other challenges.
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