March 28, 2018
Capital Square 1031, a real estate investment and management firm specializing in Delaware statutory trust investments, has fully subscribed its DST offering, CS1031 Tampa Pharma DST in 60 days. The company declined to disclose the amount raised.
The facility is comprised of a 71,150-square-foot office/R&D laboratory in Tampa, Florida, 100 percent leased on a long-term triple net basis to Capsugel, a bio-pharma company that provides research and development services to pharmaceutical companies seeking to outsource the development of new drugs.
The facility was fully redeveloped in 2015 to serve as a regional headquarters and R&D lab with a specialized buildout to meet the tenant’s needs.
“Our investors really stepped up; this offering was fully subscribed in only 60 days,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “And the icing on the cake is that Florida is an income tax-free state, which means our investors will not pay income tax in Florida.”
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