CSRA MOB Portfolio II, DST
Location: 7515 Right Flank Road, Mechanicsville, Virginia 23116
INVESTMENT COST: $22,460,000
EQUITY RAISE: $8,630,000
- CASH ON CASH RETURN YR 1: 6.25%
- OFFERING LOAN-TO-VALUE: 61.58%
- FIXED INTEREST RATE: 4.87%
- AMORTIZATION: 2 Years Interest Only
The property is strategically located near Interstate 295 within 1-mile of Richmond’s Memorial Regional Medical Center, an award-winning hospital servicing residents of Richmond, Hanover and Henrico counties, and Virginia’s Northern Neck.
Right Flank Road, Mechanicsville, Virginia
This two-building healthcare related portfolio consists of a medical office building constructed in 2013 for Virginia Women’s Center in Mechanicsville, a Richmond, Virginia suburb, and the corporate headquarters of API Healthcare in Hartford, Wisconsin.
INVESTMENT HIGHLIGHTS
- Stabilized Long-Term Cash Flow: The property is 100% leased to Virginia Women’s Center, Inc. through 2027, with three 5-year options and 2% yearly increases.
- Strategic Location: The property is strategically located near Interstate 295 within 1-mile of Richmond’s Memorial Regional Medical Center, an award-winning hospital servicing residents of Richmond, Hanover and Henrico counties, and Virginia’s Northern Neck.
- Established Tenancy: Virginia Women’s Center is the largest women’s healthcare private practice in central Virginia, with 33 physicians and 8 mid-level providers at seven clinical sites.
PROPERTY DETAILS
LEASE: 12.5-year lease with three 5-year options
 STRUCTURE: Net lease – expires 2027
 RENT ESCALATIONS: 2% annual rent increases
ABOUT VIRGINIA WOMEN’S CENTER
Virginia Women’s Center’s healthcare team comprises OB-GYNs, high-risk pregnancy specialists, nurse practitioners, ultrasound technologists, psychologists and a genetic counselor.
VWC has expanded to include services beyond gynecologic care, including urology, pelvic reconstructive surgery, clinical research, nutritional counseling and more. Virginia Women’s Center physicians also serve six hospitals representing four hospital systems in the area.
This single-story medical office building is 100 percent leased to Virginia Women’s Center, the largest women’s healthcare private practice in central Virginia. Located within one-mile of Richmond’s award-winning Memorial Regional Medical Center, the building was constructed in 2013 as a build-to-suit to meet the specific needs of the growing organization, and is currently serviced by 14 members of its healthcare team. The 2.1-acre property includes 103 surface parking spaces and is located within The Shoppes at Bell Creek, comprised of office condominiums, free-standing office buildings, a veterinary hospital and retail stores. The property is easily accessible via Interstate 295, Pole Green Road and Bell Creek Road.
API Healthcare Corporation
Approximately 73,756 rentable square feet
The property is 100 percent leased by API Healthcare Inc., a GE Healthcare company and one of the country’s largest healthcare workforce management solutions providers. The building, constructed in 2004 as a build-to-suit for API Healthcare’s corporate headquarters, is situated on approximately 21.8 acres in one of Washington County’s most prominent industrial parks. The property, which includes an on-site cafeteria and game room, is easily accessible via Highway 41 and is in close proximity to leading area companies, including Quad Graphics, Helgesen Industries and Signicast Corporation.
ABOUT CAPITAL SQUARE
Capital Square 1031, LLC specializes in the creation and management of real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive offi cer of Capital Square, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DSTs, tenant-in-common offerings, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.