KINGSBARN STRUCTURES 1031 PORTFOLIO ACQUISITION FOR INVESTMENT GROUP
Las Vegas, NV (September 10, 2016) – Kingsbarn Realty Capital ("Kingsbarn") announced the closing of a Structured 1031 exchange for KB Highland Partnership, LLC, through its affiliated company, KB Exchange Holdings, LLC. Kingsbarn acquired two medical dialysis properties in Florida and Texas for the Hawaiian investment group in order to effectuate a 1031 exchange for their investors. The aggregate purchase price for the properties was $10,125,000.
"The investors sold an industrial park and were looking to acquire management-free properties leased to rated companies," stated Kingsbarn Managing Partner Jeff Pori. "Because the group was in its 45-day identification period, they needed help identifying properties quickly that would meet their criteria. We not only found suitable properties, but we also secured the financing, structured the legal entities, handled the escrow and due diligence, provided a tax opinion, and contracted with a third-party asset management firm to oversee the property and provide operating statements and distributions to the investors. We even signed the personal guarantees for the loan. It's all part of our Managed-Direct Ownership program, which is like a separately managed account for real estate. It's ideal for transitioning a portfolio from active to passive or for high-value tax exchanges where the client prefers to bundle many of our services together. It's a real 'turn-key' solution for acquiring, financing, and managing commercial real estate."
One of the acquired medical properties is located in the Tampa, Florida, market. The tenant, Fresenius Medical Care, is the world's largest integrated dialysis company. Fresenius is publicly-traded on the New York Stock Exchange (ticker: FMS). Fresenius has a 15-year lease at the Tampa property that includes scheduled rental increases. The second property, leased to DSI Dialysis, is located in El Paso, Texas. DSI also has a 15-year lease in the newly-constructed medical clinic. DSI was recently acquired by US Renal, the third largest dialysis company in the United States.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate private equity firm focused on acquiring commercial property assets throughout the United States. Offering both direct and indirect real estate investments, Kingsbarn provides its clients with the opportunity to invest in its various structured real estate private placements. Kingsbarn's management team has extensive experience developing, managing, and sponsoring a diverse array of stabilized core properties and income-driven investment funds. The company offers competitive, risk-adjusted returns to investors through its diversified investment programs.
Holly Silvestri, The Ferraro Group