Company News
Kingsbarn Purchases Office Property in Albuquerque
Las Vegas, NV, August 24, 2018 – Kingsbarn Realty Capital (“Company” or “Kingsbarn”) announced the acquisition of the Altura Professional Building, in Albuquerque, New Mexico. The property was 100% leased and occupied by seven tenants, including the General Services Administration (USA), Lovelace Health System, and Butt, Thornton & Baehr PC, who together occupy 85% of the approximately 109,000 sq. ft. building. The property is a 4-stories, steel frame construction, has three elevators in a generous central lobby, and has underground parking and storage for the tenants.
“Altura is centrally located with great access and visibility from the I-40 freeway,” said Jeff Pori, CEO of Kingsbarn Realty Capital. “We also like the proximity to the University of New Mexico campus as that is a major employment driver for this submarket.”
Kingsbarn intends to allow 1031-exchange investors to become co-owners in the property beginning in September 2018. National Asset Services (NAS), a national property and asset management firm based in Los Angeles, will be the asset manager for the property.
The purchase of the Altura Professional Building is the fourteenth property acquisition for Kingsbarn in a six-month span as it continues to acquire investment properties throughout the U.S. for its 1031-exchange clientele.
The Company’s Sponsor, KB Exchange Trust, structures commercial real estate offerings as DSTs, 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.
About Kingsbarn Realty Capital
Kingsbarn Realty Capital is a real estate private equity firm focused on acquiring high-quality property assets located 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 extensive experience developing, managing, and sponsoring a diverse array of stabilized, income-driven properties. The Kingsbarn management team has over 100 years of combined real estate experience and has acquired over $10 billion of commercial real estate throughout the United States.
Contact:
Tony DeFazio
DeFazio Communications
tony@defaziocommunications.com
(O): 484-534-3306
(C): 484-410-1354
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.