Las Vegas, NV, August 24, 2018
– Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the acquisition of the Altura Professional Building, in Albuquerque, New Mexico. The property was 100% leased and occupied by seven tenants, including the General Services Administration (USA), Lovelace Health System, and Butt, Thornton & Baehr PC, who together occupy 85% of the approximately 109,000 sq. ft. building. The property is a 4-stories, steel frame construction, has three elevators in a generous central lobby, and has underground parking and storage for the tenants.
“Altura is centrally located with great access and visibility from the I-40 freeway,” said Jeff Pori, CEO of Kingsbarn Realty Capital. “We also like the proximity to the University of New Mexico campus as that is a major employment driver for this submarket.”
Kingsbarn intends to allow 1031-exchange investors to become co-owners in the property beginning in September 2018. National Asset Services (NAS), a national property and asset management firm based in Los Angeles, will be the asset manager for the property.
The purchase of the Altura Professional Building is the fourteenth property acquisition for Kingsbarn in a six-month span as it continues to acquire investment properties throughout the U.S. for its 1031-exchange clientele.
The Company’s Sponsor, KB Exchange Trust, structures commercial real estate offerings as DSTs, a separate legal entity that qualifies under Section 1031 as a tax-deferred exchange. This investment structure provides investors with fractional ownership in higher-quality properties to help diversify their investment portfolios.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate private equity firm focused on acquiring high-quality property assets located throughout the United States. Kingsbarn structures its real estate investment opportunities for both fractional 1031 investors as well as customized portfolio solutions for large scale investors seeking single allocations. Kingsbarn’s management team has extensive experience developing, managing, and sponsoring a diverse array of stabilized, income-driven properties. The Kingsbarn management team has over 100 years of combined real estate experience and has acquired over $10 billion of commercial real estate throughout the United States.