Company News
Kingsbarn Purchases Three-Property Office Portfolio in Henderson, Nevada
Las Vegas, Nevada, July 28, 2022 – Kingsbarn Realty Capital ("Company" or "Kingsbarn") has acquired Green Valley Corporate Center, North located at 2275, 2285, and 2370 Corporate Circle in Henderson, Nevada (the "Portfolio"). Approximately 182,989 square feet and consisting of three office buildings, Green Valley Corporate Center, North is located in the submarket of Green Valley, an upscale, master-planned community in Henderson. With direct access to Interstate 215, due to its interchange location, Green Valley Corporate Center, North is only a 7-minute drive to the Las Vegas Strip.
"Given the lack of vacant land in the region available for new construction, this portfolio is a rare find in Green Valley’s well-established market," said Kingsbarn Vice President of Acquisitions, Daniel Abramowitz. "The properties have a current occupancy just over 93% and have impressive tenants such as Greenspun Media Group and HCA Healthcare’s Far West Division," Abramowitz also said.
Leasing over 25,000 square feet of 2275 Corporate Circle, Greenspun Media Group publishes the Las Vegas Sun, an independent Las Vegas news source (found online at lasvegassun.com) printed and distributed daily inside the Las Vegas Review Journal. HCA Healthcare leases about 22,500 square feet across two of the buildings and is one of the nation’s leading providers of healthcare services with 185 hospitals and approximately 2,000 ambulatory sites of care. Additional tenants include P3 Health Partners, a population health management company, Chicago Title, and the Nevada State Board of Osteopathic Medicine.
The portfolio’s strong tenancy and desirable location make this an appealing investment for 1031 exchange investors. Kingsbarn will offer interests in the portfolio for investment in a Delaware Statutory Trust structure, thereby making the investment eligible for a 1031 exchange.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate centric investment house that provides institutional and accredited investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange traded funds, traditional investment funds, private placements, and Delaware Statutory Trusts (DSTs). Kingsbarn’s management team has wide-ranging experience developing, managing, operating, and sponsoring a diversified portfolio of stabilized, income-driven properties as well as ground-up construction, value-added offerings, opportunity zone investments, and entitlement projects. Kingsbarn has over $1.5 billion of assets under management throughout the United States.
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.