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INVESTMENT HIGHLIGHTS
Geographic Diversification – Unprecedented access to a geographic mix of strong markets with a single credit and user profile
Top Tier Locations – Average five-mile radius includes a population of 111,847 earning an average household income of $84,048.
No Early Termination or Kick-Out Clause – All leases are free from early termination options or early kick-out clauses during the initial and any exercised option terms
Leading Operator | Fresenius, 4,116 Clinics, 344,000 Patients
Insulated from Macroeconomic Changes | +/-90% of Fresenius' Patients Covered Under Government Program
Long-Term Leases – All leases in the Portfolio have more than ten (10) years of initial lease term remaining with three (3), five (5) year renewal options.
Passive Expense Structure – Minimal responsibilities for repair, replacement or maintenance of roof, structure, and HVAC in excess of $3,500 annually.
Rent Growth – All leases provides for annual rental increases throughout the initial and option terms in an amount tied to an index (CPI).
Below Replacement Cost – Each lease was originally a sale-leaseback, rent was not set as a function of building cost and as such each rent and price per square foot are well below replacement cost and prevailing market rates in each market.
