Capital Square 1031, a sponsor of Delaware statutory trust offerings, has purchased a 15,300-square-foot medical office building in the Phoenix suburb of Gilbert, Arizona.
The property was purchased on behalf of CS1031 MOB AZ I, DST, a Regulation D private placement offering that seeks to raise $5.8 million in equity from accredited investors and has a minimum investment of $50,000.
“Medical properties have proven to be exceptional performers over the past decade…,” said Louis Rogers, founder and chief executive officer of Capital Square.
Located at 838 West Elliot Road, the purpose-built facility is leased to a private medical practice, Comprehensive Integrated Care, which executed a 15-year triple net lease in May 2021. Under the terms of a triple net lease, the tenant is solely responsible for the property’s operating expenses, insurance and real estate taxes.
“We are experiencing a major population migration to the Phoenix area, where there is a lower cost of living, friendly government environment and better overall quality of life,” said Whitson Huffman, chief strategy and investment officer.
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- On August 4, 2021