Capital Square Realty Advisors acquires health-care related properties in Virginia and Wisconsin
Capital Square Realty Advisors LLC in Richmond has acquired a two-building portfolio of health-care related properties located in the Richmond suburb of Mechanicsville and the Milwaukee suburb of Hartford, Wis. The purchase price was not disclosed.
“The demographic aging of America and the impact of the Affordable Care Act makes quality health-care real estate assets such as these attractive investments, and we’re pleased to further expand Capital Square Realty Advisors’ portfolio in this specialized sector,” Louis Rogers, founder and CEO of Capital Square Realty Advisors, said in a statement.
He noted that both properties have long-term leases and are fully leased.
The portfolio includes a built-to-suit, 20,066-square-foot, single-story medical office building that is leased to a single tenant, the Virginia Women’s Center, the largest women’s health-care private practice in central Virginia. Located at 7515 Right Flank Road, the center is a mile from Memorial Regional Medical Center. The 2.1-acre property, constructed in 2013, includes 103 parking spaces. It’s located within The Shoppes at Bell Creek, a mixed-use development of office condominiums, free-standing office buildings, a veterinary hospital and retail stores.
The building in Hartford is a 73,756-square-foot, two-story building that’s leased to API Healthcare Inc., a GE Healthcare company. It was constructed in 2004 as a build-to-suit for API Healthcare’s corporate headquarters, on nearly 22 acres in one of Washington County’s industrial parks.
Capital Square Realty Advisors specializes in the creation and management of commercial real estate investment programs for Section 1031 exchange investors and discretionary (non-1031) investors using the Delaware Statutory Trust structure.