Capital Square 1031, a sponsor of Delaware statutory trusts, acquired a 16,024-square-foot medical office building in the Raleigh suburb of Creedmoor, N.C. on behalf of its DST investors. The purchase price was not disclosed. CSRA NC MOB DST is the 18th Capital Square 1031-sponsored DST offering fully subscribed since the company’s founding in 2012.
The single story, 16,024-square-foot medical office building is 100 percent leased on a long-term basis to Duke University Health System. The 3.52-acre property includes 98 surface parking spaces.
“This is an institutional quality medical office building built in 2010 specifically for the Duke University Health System,” said Louis Rogers, founder and chief executive officer of Capital Square. “Capital Square 1031 believes that medical office buildings such as this are attractive investment opportunities because healthcare costs are growing dramatically to approximately 20 percent of the US economy, and such costs are projected to grow for decades to come.”
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