Company News
Kingsbarn Acquires Single-Tenant Medical Facility in Pennsylvania
The Newly Constructed Clinic is 100% Leased to Lehigh Valley Health Network.
Macungie, Pennsylvania — September 11, 2024 Kingsbarn Realty Capital (“Company” or “Kingsbarn”) has announced the acquisition of a new single-tenant, net-lease medical clinic (“Property”) in Macungie, Pennsylvania. The Property, Health Center at Macungie by LVHN (Lehigh Valley Health Network), was constructed in 2023 and features a variety of medical services, lab services, Lehigh Valley Physician Group family medicine, orthopedics, cardiology and pediatrics practices, outpatient adult rehabilitation and cardiac and vascular diagnostic testing.
“Health Center at Macungie will be offered to our clients under a Delaware Statutory Trust (DST) ownership structure as a simplified 1031 exchange solution,” stated Jeff Pori, CEO of Kingsbarn. “With its prime location on Macungie’s main thoroughfare and its range of medical services, this newly constructed facility offers an attractive investment opportunity for those seeking the stability and growth of healthcare real estate.”
In addition to Health Center at Macungie, Lehigh Valley Health Network includes 14 hospital campuses in Pennsylvania, 28 other health centers, and numerous primary and specialty care physician practices. As of July, the group has a Moody’s credit rating of A2. LVHN announced plans to merge with Jefferson Health in December 2023. The merger of LVHN and Philadelphia-based Jefferson Health would create a massive 30-hospital network, with nearly $13± billion in revenue and over 2,000 hospital beds. Post-merger, the new giant consisting of Jefferson Health and LVHN will become the second-largest hospital network in Pennsylvania.
ABOUT KINGSBARN REALTY CAPITAL
Kingsbarn Realty Capital is a real estate-centric investment house that provides institutional and accredited private investors access to an array of alternative investments. Kingsbarn offers investments in private equity, exchange traded funds, traditional investment funds, private capital, managed accounts and Delaware Statutory Trusts (DSTs). Additionally, 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 $2 billion of assets under management and has acquired over 280 properties throughout the United States. The company currently has a development pipeline of over $2 billion consisting of multifamily, student housing, medical, industrial, retail, and hospitality. For further information, visit www.kingsbarn.com.
Kingsbarn Media Contacts:
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.