HOUSTON, TX - Capital Square 1031, a leading real estate investment and management firm specializing in Delaware statutory trust offerings, announced its acquisition of a newly-constructed, 10,000-square-foot memory care facility located in the Houston suburb of Spring, Texas.
The Class A facility has 16 beds and was completed in June 2018. The property is leased for 15 years on an absolute net basis to Village Green Alzheimer's Care Home with a personal guarantee from the owners of the practice for the entire term of the lease.
"This memory care facility was purchased in an all-cash transaction for a Delaware statutory trust offering, providing investors with the opportunity to own the real estate without any mortgage debt," said Louis Rogers, founder and chief executive officer of Capital Square 1031. "Additionally, because Texas does not have an income tax, investors in the DST will not pay any state income taxes."
Located at the intersection of Spring Cypress Road and Champion Forest Drive, Village Green Alzheimer's Care Home includes 16 private suites, designed to create a home-like setting that promotes a higher quality of life. The property was constructed to provide greater security for residents and deliver specialized care, tailored to each resident, and permits residents to age in place.
Rogers added, "Village Green Alzheimer's Care Home is well-located near several dense residential developments in Greater Houston, the fifth largest metropolitan area in the country. The property's strong location coupled with the current growing demand for assisted living and memory care facilities in the country position it as an opportunity for capital appreciation and a valuable addition to our national real estate portfolio."
Village Green Alzheimer's Care Home specializes in the care of seniors who have Alzheimer's, dementia and other memory impairments. The facility was constructed with secure exterior doorways, increased space for activities inside and outside the community, as well as a courtyard and independent areas. Additional community amenities include security, a 24-hour staff, wheelchair accessible showers, swimming pool, hot tub and more.
Houston is home to approximately 6.89 million residents and ranks as the 6th lowest cost of living among the twenty largest US metropolitan areas.
Capital Square was represented in its acquisition of the property by Matt Bear, founder and chief executive officer of Bear Real Estate Advisors. Rogers said, "Capital Square would like to thank Matt and Bear Real Estate Advisors for sourcing another high-quality, newly-constructed medical property that closed in record time without any issues."