Company News
Kingsbarn Acquires Two Office Buildings in Elk Grove, California
Las Vegas, Nevada, May 19, 2022 – Kingsbarn Realty Capital ("Company" or "Kingsbarn") announced the acquisition of a two-building office park known as "Laguna West" located in the greater Sacramento MSA (the "Property"). Consisting of approximately 50,000 square feet, the Laguna West complex is located at 2208 and 2218 Kausen Drive, Elk Grove, California. Situated just off the Laguna Boulevard freeway entrance ramp to Interstate 5, Laguna West enjoys direct freeway visibility and excellent transportation access.
"The Elk Grove submarket, which is comprised of approximately 1.6 million square feet, is one of the tightest submarkets of the Sacramento region," stated Kingsbarn CEO Jeff Pori. "We expect the low vacancy in this submarket to continue, given the lack of any new speculative construction of general office space in the area," Pori further stated.
Currently, Laguna West is leased to two tenants that are both departments of the State of California and two medical tenants that are both in the renal care subsector. The strength of the tenancy and the property’s central location make this an attractive investment for 1031 exchange investors. Kingsbarn will offer the properties for investment in a Delaware Statutory Trust structure, thereby making the investment eligible for purchase as a 1031 exchange replacement property.
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. Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties. Kingsbarn has over $1 billion of assets under management 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.
Media Contact:
Emma Williams/Holly Silvestri
The Ferraro Group// 702-367-7771
emma@theferrarogroup.com / holly@theferrarogroup.com
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.