Company News
Kingsbarn Realty Capital Purchases a Class-A, Medical Office Building in Las Vegas, Nevada
Las Vegas, Nevada, January 15, 2021 – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the acquisition of the Centennial Hills Medical Center (“CHMC”), in Las Vegas, Nevada. CHMC is an approximately 57,000 sq. ft., Class-A, medical office building in the Montecito Town Center area of northwest Las Vegas.
"The acquisition of Centennial Hills is a perfect fit for our program," said Jeff Pori, CEO of Kingsbarn Realty Capital. "We like medical properties in tax-free states, and we prefer triple net leases so that the income stream is consistent and predictable."
The property, located at 6170 North Durango Drive, is a two-story, Class-A medical office, that is currently 100% leased to seven strong and diverse tenants with an average of approximately seven and a half years of remaining lease term. CHMC is situated on a medical campus very near Centennial Hills Hospital.
"We provide great 1031 exchange investment opportunities for the investors in our Delaware Statutory Trust (“DST”) program,” Pori further stated. “Medical office is widely considered to be a COVID-19 resistant industry because many non-essential procedures have been moved to facilities like Centennial Hills Medical Center. These outpatient procedures are necessary in the current environment because they are prohibited in many hospitals in order to prevent the hospitals from being overwhelmed during the pandemic.
The Company will offer the investment through its affiliate, KB Exchange Trust, as KB Essential Healthcare 38 DST—a separate legal entity that qualifies under Section 1031 for an IRS for a tax-deferred exchange. This DST investment structure provides investors with fractional ownership in higher-quality properties and is also is very useful in helping investors diversify their real estate portfolios in a much easier fashion that attempting to purchase multiple properties on their own. There is be a total of $12,950,000 of equity available being offered in KB Essential Healthcare 38 DST and investors must be “accredited investors” in accordance with Regulation D of the U.S. Securities Act of 1933, as amended (the “Securities Act”).
About Kingsbarn Realty Capital Kingsbarn Realty Capital is a real estate private equity and development firm based in Las Vegas, Nevada. Kingsbarn structures its real estate investment opportunities for both fractional 1031 investors as well as providing customized portfolio solutions for large scale investors. Kingsbarns’ management team has wide-ranging experience developing, managing, operating and sponsoring a diversified portfolio of stabilized, income-driven properties. Kingsbarn has acquired and currently operates over $500 million of commercial real estate throughout the United States. In 2020, Kingsbarn Capital and Development was founded as the company’s development arm to expand its product offerings for investors to include ground-up development of real estate assets and to fund operating companies who require real estate solutions across the United States.
No Offer
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.
Forward-Looking Statements
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.