KINGSBARN ACQUIRES MEDICAL CENTER IN OREGON
Las Vegas, NV, July 22, 2019 – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced that is has purchased the Westmoreland Medical Center (“WMC”) in Eugene, Oregon. The 33,750 sq. ft. building is currently 97% occupied and has enjoyed a consistently high rate of occupancy over the past two decades.
“The Westmoreland Medical Center is located in the southwestern quadrant of Eugene and is the only full-service medical facility in a very wide radius,” said Jeff Pori, CEO of Kingsbarn Realty Capital. “The major tenant, Oregon Medical Group, occupies two thirds of the building and just recently signed a 10-year lease extension,” Pori further explained.
“Their portion of the building was a build-to-suit in 2006 and they have been a tenant at the property for over 20 years.” “Oregon Medical Group is the largest private health provider in Eugene with 16 locations throughout the city.”
Kingsbarn intends to allow 1031-exchange investors to become owners in the property beginning in September 2019. Emersons Commercial Real Estate, a national property management firm based in Dallas, Texas, has been selected to be the property manager for the property.
The acquisition of WMC marks the 27th DST program for Kingsbarn and the 56th property acquisition in just a five-year span. The company ranked 10th in capital raising for DST sponsors in 2018 out of the 36 DST sponsors being tracked by Mountain Dell Consulting.
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.
This is not an offer. An offer will only be made pursuant to the delivery of the required offering documents, including the private placement memorandum, as supplemented or amended (the “Memorandum”) and only in states in which the securities offered pursuant to the Memorandum are registered or exempt from registration requirements, and only by broker-dealers authorized to do so. This information discusses general information about the portfolio and is not a guarantee, prediction or projection of future performance. Diversification does not protect against loss or guarantee return. There are risks associated with investing in real estate assets, such as inflation, interest rates, real estate tax rates, changes in the general economic climate, local conditions such as population trends and neighborhood values, and supply and demand for similar property types. Investing in DSTs and 1031 exchanges involves significant tax consequences. Please refer to the Memorandum for detailed information about the offering and its associated risks and implications.
This press release may contain forward-looking statements identified by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. Kingsbarn assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.