Capital Square 1031 acquires foot memory care facility.
HOUSTON: Capital Square 1031 announced its acquisition of a newly-constructed, 10,000-square-foot memory care facility located in the Houston suburb of Spring, Texas.
Capital Square 1031 is a leading real estate investment and management firm specializing in Delaware statutory trust offerings. The Class A facility has 16 beds and was completed in June 2018. The property is leased for 15 years on an absolute net basis to Village Green Alzheimer's Care Home with a personal guarantee from the owners of the practice for the entire term of the lease.
Louis Rogers, founder and chief executive officer of Capital Square 1031, said, "This memory care facility was purchased in an all-cash transaction for a Delaware statutory trust offering, providing investors with the opportunity to own the real estate without any mortgage debt. Additionally, because Texas does not have an income tax, investors in the DST will not pay any state income taxes."
Located at the intersection of Spring Cypress Road and Champion Forest Drive, Village Green Alzheimer's Care Home includes 16 private suites, designed to create a home-like setting that promotes a higher quality of life. The property was constructed to provide greater security for residents and deliver specialized care, tailored to each resident, and permits residents to age in place.
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|Publication:||Daily the Pak Banker (Lahore, Pakistan)|
|Date:||Sep 18, 2018|
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