December 3, 2019
Capital Square 1031 acquired two newly-constructed medical buildings in San Antonio and Round Rock from Simpkins Group, the Houston-headquartered developer and owner. Both buildings are net leased, long term, to NeuroRestorative, with the tenant using the facilities for post-acute, neuro-rehabilitation activities.
The portfolio delivered in 2018, consisting of:
- A 20,000-square-foot, 24-bed facility on 2.6 acres at 18931 Hardy Oak Blvd., San Antonio
- A 15,000-square-foot, 16-bed facility on 2.7 acres at 5150 N. A.W. Grimes Blvd., Round Rock
“This desirable investment is bolstered by a 15-year absolute net lease to a strong tenant and guarantor with a credit rating of B2 and stable outlook by Moody’s,” said Capital Square 1031’s Whitson Huffman. “Annual rental increases and the net lease structure eliminates investor concerns about future inflation impacting returns from the property.”
Pictured: NeuroRestorative, Round Rock
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