Las Vegas, NV, September 1, 2020 – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the acquisition of a +/- 110,000 sq. ft., Class-A, office building in Roseville, California—an affluent suburb of Sacramento.
"We were supposed to close escrow back in March but our financing fell apart due to Covid-19," stated Jeff Pori, CEO of Kingsbarn Realty Capital. "We were lucky to have a seller who was willing to hang in there with us until we could replace the loan we thought we had secured months earlier. Both Barker Pacific Group and WHI Real Estate Partners allowed us to extend escrow and complete this transaction."
"The problem of having an unpredictable lending environment is happening market wide," Pori further stated. "We're hearing a lot of stories about borrowers being left at the alter when it's time to close. That's why DSTs make more sense than ever as the financing is already completed before the investor ever makes the purchase."
The property, located at 2901 Douglas Boulevard, is a three-story, Class-A building, that is currently 96% leased to a very strong and diversified tenant roster. The property, known as Douglas Corporate Center II ("DCCII"), is situated at the business epicenter of Roseville. "Our strategy of acquiring suburban office properties proximate to executive housing and major transportation corridors is really paying off in the current Covid-dominated marketplace," said Pori. The acquisitions we have made in California over the past two years have all either maintained or increased in occupancy during the Covid-19 pandemic. As people and businesses are exiting the CBDs in many of the large states, cities like Roseville are poised to capitalize from the exodus.
The Company's affiliate, Kingsbarn Real Estate Capital, intends to offer interests in DCCII as a DST—a separate legal entity that qualifies under Section 1031 as a tax-deferred exchange. This investment structure provides investors with fractional ownership in higher-quality properties to help diversify their investment portfolios. 1031 exchange investors can immediately invest in this offering with a minimum investment of $250,000. There is a total of $20,750,000 of equity available in this offering.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate private equity firm focused on acquiring high-quality property assets throughout the United States. Kingsbarn structures its real estate investment opportunities for both fractional 1031 investors as well as customized portfolio solutions for large scale investors seeking single allocations. Kingsbarn’s management team has wide-ranging experience developing, managing, and sponsoring a diverse array of stabilized, income-driven properties. Kingsbarn has acquired and currently operates over $500 million of commercial real estate throughout the United States.
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.
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.