GREENVILLE, N.C. (Sept. 9, 2013)– Capital Square Realty Advisors LLC announced today that the company has acquired a 20,458-square-foot medical office building in Greenville, N.C.
The building is 100 percent long-term leased by East Carolina University Physicians, which utilizes the property as its Psychiatric Medicine Outpatient Clinic. Located at 905 Johns Hopkins Drive in the midst of a thriving medical district, the building was originally constructed in 1989 and underwent a comprehensive renovation and expansion in 2012.
“This medical office building is leased on a 10-year term to one of the largest medical practices in Eastern North Carolina and is well located in a busy medical district,” said Louis Rogers, founder and chief executive officer of Capital Square Realty Advisors. “As a nation, Americans are growing older and demanding greater healthcare services such as those provided to the residents of Eastern North Carolina in this facility.”
ECU Physicians Medical Office Building is affiliated with Vidant Medical Center, one of four academic medical centers in North Carolina, and the flagship hospital for Vidant Health. The medical center serves as the teaching hospital for the Brody School of Medicine at East Carolina University and provides acute, intermediate, rehabilitation and outpatient health services to more than 1.4 million people in 29 counties.
About Capital Square Realty Advisors LLC
Capital Square Realty Advisors, LLC specializes in the creation and management of commercial real estate investment programs for Section 1031 tax-deferred exchange investors and cash (non-1031) investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive officer of Capital Square Realty Advisors, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including tenant-in-common, DST and multiple publicly registered non-traded real estate investment trusts. Rogers is also the founder and CEO of Rogers Realty Advisors LLC, which provides investment banking services with an emphasis on sourcing preferred equity, mezzanine financing and other debt for real estate investments. The DST interests are sold by independent broker-dealers across the country. Property and asset management services are provided by affiliate Capital Square Management, LLC.