BIRMINGHAM, Ala., Sept. 07, 2016 (GLOBE NEWSWIRE) — Capital Square 1031 announced today that the company has acquired a newly-constructed medical office building, 100 percent leased to Fresenius Medical Care Trussville, in Birmingham, Ala.
Located at 3671 Roosevelt Blvd., the 8,140-square-foot dialysis clinic was built-to-suit for Fresenius, a wholly-owned subsidiary of Fresenius Medical Care AG & Co. KGaA. The property is leased on a triple net basis for a base term of 15 years, plus extensions.
“This medical office building is well-located in a vibrant area within the Birmingham metropolitan region, which has a population of more than 1.1 million, representing nearly 25 percent of the state’s total population,” said Louis Rogers, founder and chief executive officer of Capital Square 1031. “The tenant’s parent company is the world leader in dialysis care and reported a net revenue of approximately $16.7 billion for fiscal year 2015. Capital Square is pleased to add this medical property to our national portfolio of assets under management, which now includes more than 50 properties valued in excess of $511 million, based on investment cost.”
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 2015, Fresenius cared for in excess of 294,000 dialysis patients in 3,418 proprietary clinics located in more than 45 countries worldwide. The company also operates more than 40 production sites, making Fresenius the leading provider of dialysis products, including dialysis machines, dialyzers and disposable accessories.
Birmingham is the largest city in Alabama, with a population estimated at 212,237 and a metro population of more than 1.1 million. A medical research, banking and service-based economy that is centrally located in southeast Alabama, the area is home to approximately 40,680 businesses.
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 August 26, 2016, the company oversees a growing national portfolio of more than 50 real estate assets valued at approximately $511 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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