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.
About Four Springs TEN31 Xchange:
Four Springs TEN31 Xchange (FSXchange) is a sponsor of DST offerings featuring single tenant net-leased real estate and provides customized turnkey tax deferred exchange solutions for real estate investors. FSXchange is a subsidiary of Four Springs Capital Trust, an internally managed real estate investment trust (REIT) focused on acquiring, owning and actively managing a portfolio of single tenant, income producing industrial, medical, retail, and office properties throughout the United States that are subject to long-term net leases.
About Four Springs Capital Markets:
Four Springs Capital Markets is a financial services firm that focuses on raising capital for real estate and other alternative investments. Since 2009, the company has raised capital from financial intermediaries, high net worth individuals, family offices and institutional investors for a wide range of 1031 programs, private placements and REIT equity and debt investments.
Securities offered through Third Seven Capital LLC, Member FINRA/SIPC. Four Springs Capital Markets and Third Seven Capital LLC are not affiliated.