Four Springs TEN31 Xchange, LLC (FSXchange) announced today that it has fully subscribed 1031 exchange offerings in FSC Healthcare III, DST and FSC Healthcare IV, DST – two medical office properties leased to BioLife Plasma Services and University of Iowa, respectively. The properties were valued at $32.6 million. Four Springs Capital Markets assisted with the distribution of the offerings.
FSXchange is a leading sponsor of Delaware Statutory Trust (DST) programs designed for investors participating in Section 1031 tax deferred real estate exchanges. The company focuses its offerings on single tenant net-leased industrial, medical, retail and office properties.
“Demographic and healthcare industry trends show continued growth for the medical office sector,” said Coby Johnson, President and Chief Operating Officer of Four Springs Capital Trust. “Our closings of these two DST offerings show the strong investor demand for well-located medical office properties leased to creditworthy tenants.”
The FSC Healthcare III, DST property is an $8.4 million, 16,694 square foot building that is 100% leased on a long-term NNN lease to BioLife Plasma service, a subsidiary of investment grade guarantor Baxalta. FSC Healthcare IV, DST is a newly constructed $24.2 million, 61,067 square foot medical office building that serves as an outpatient clinic for female healthcare. The property is 100% leased to University of Iowa Hospitals and Clinic on a 12-year NNN basis.
“FSXchange has now completed eleven DST programs comprised of over $100 million in properties,” said Eric Paul, President of Four Springs Capital Markets. “Thirty five broker-dealers and independent financial planning firms participated in our two recent healthcare offerings, and we appreciate their support and confidence in us. Over the next 12 months we anticipate developing an additional $100 million in DST programs.”
(This news/press release has not been altered by investment.net, apart from the headline, and has been obtained from a syndicated source:- https://www.businesswire.com/news/home/20180919005200/en/Four-Springs-TEN31-Xchange-Announces-Successful-Closing-of-32.6-Million-in-1031-Exchange-Properties)