Los Angeles, CA, May 7, 2019
— Kingsbarn Real Estate Capital (“Company” or “Kingsbarn”) announced the closing of Foothill Corporate Centre, an 83,000 sq. ft., Class-A, office property located in the master-planned community of Foothill Ranch. The property features a 4,000 sq. ft. tenant conference center and lounge that is available to the tenants for company meetings and special events.
“Foothill Corporate Centre is the kind of suburban office product we like with proximity to transportation corridors and with high-income demographics in the immediately surrounding neighborhoods,” stated Kingsbarn CEO Jeff Pori. The property sits prominently along the 241 freeway and fronts Town Centre Drive, a main thoroughfare in Foothill Ranch.
Kingsbarn intends to allow 1031-exchange investors invest in the properties through its Delaware Statutory Trust (DST) investment program which is only available to California residents. National Asset Services (NAS), a national property and asset management firm based in Los Angeles, will serve as the manager for the property. This structure is ideal for investors who want the tax benefits of owning real property, but don’t want the burden of day-to-day property management
Tenants at the property include Rockwell Automation, Edward Jones Investments, Eagle Credit Union, Goodman Insurance, Proactive Engineering, and ExoAnalytic Solutions. The institutional-quality asset is currently 90% leased and occupied.
Kingsbarn has acquired over $250 million of office and medical properties over the past three years. Foothill Corporate Centre is the fifth southern California office property acquired by Kingsbarn over the past year.
About Kingsbarn Real Estate Capital
Kingsbarn Real Estate Capital is a subsidiary of Kingbarn Realty Capital, 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.