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INVESTMENT HIGHLIGHTS
DOMINANT RETAIL CORRIDOR – Near the who's who of national retail tenants including WinCo Foods, Home Depot, Target, Walmart, CostCo and others
NO EARLY TERMINATION OR KICK-OUT CLAUSE – Both leases are free from early termination options or early kickout clauses during the initial and any exercised option terms
LEADING OPERATORS – DaVita, Inc. is one of the largest kidney care companies in the world; Sutter Health is one of the dominant hospital systems in the country
STRONG GUARANTEES – DaVita, Inc.: $12.14 billion revenue, $691 million in net income, Moody's Ba3, S&P BB | Sutter Valley Medical Foundation: $1.85 billion revenue, S&P A+
GROWING INDUSTRY – There are over 562,000 ESRD dialysis patients in the U.S. as of 2020 (CAGR 3.0% from 2010 to 2020)
HOME-ONLY CLINIC – Location is an extension of an already successful clinic in the area and will house the group's home dialysis unit
NEW PROTOTYPE DESIGN – This institutional-quality facility is one of only a few in the U.S. and its design affords an enhanced layout and energy efficient operations
LONG-TERM, PASSIVE LEASES – Fifteen (15) and Ten (10) years of highly passive rental income, minimal landlord responsibilities
INSULATED FROM MACROECONOMIC CHANGES – +/-90% of DaVita's dialysis patients covered under some form of government-based program
RENT GROWTH – DaVita: 10% increases every 5 years (initial term and options) | Sutter Health: 3% annual rental increases (initial term and options)
STRONG DEMOGRAPHICS – 113,000 residents & average household income over $154,000 (5 miles)
