WINCHESTER, Va., March 17, 2016 (GLOBE NEWSWIRE) -- Capital Square 1031 announced today that the company has acquired a medical office building, 100 percent leased to Bio-Medical Applications of Virginia, doing business as Fresenius Medical Care Holdings Inc., in Winchester, Va.
Located at 38 W. Jubal Early Dr., the 9,503-square-foot, single-story condominium unit was recently built-to-suit for Fresenius, a wholly-owned subsidiary of Fresenius Medical Car AG & Co. KGaA.
“This is a recently-constructed, high quality medical office building on a long-term triple net lease to a subsidiary of the world’s leading provider of dialysis products and services. Its parent company had a net revenue of approximately $15.8 billion for the fiscal year 2014,” said Louis Rogers, founder and chief executive officer of Capital Square 1031.
According to Rogers, “Capital Square 1031 acquires medical properties throughout the nation because this desirable asset class is in great demand as a result of the ageing of the Baby Boomer generation.”
Listed on both the Frankfurt Stock Exchange (FME) and New York Stock Exchange (FMS), Fresenius is the world’s leading provider of products and services for people with chronic kidney failure. The company is primarily engaged in providing kidney dialysis services and clinical laboratory testing; manufacturing and distributing products and equipment for kidney dialysis treatment; and providing other medical ancillary services. During 2014, Fresenius cared for in excess of 283,000 dialysis patients in 3,349 proprietary clinics located in more than 45 countries worldwide. The company also operates more than 40 production sites on all continents, making Fresenius the leading provider of dialysis products, including dialysis machines, dialyzers and disposable accessories.
About Capital Square 1031
Capital Square 1031 specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and cash (non-1031) investors using the Delaware Statutory Trust structure. As of December 31, 2015, the company oversees a growing national portfolio of 39 real estate assets valued at approximately $370 million (based on investment cost). Louis J. Rogers, founder and chief executive officer of Capital Square, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DST, tenant-in-common, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts. To learn more, visit www.CapitalSquare1031.com.
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Source:Capital Square1031, LLC