Investment Overview

8+ YEARS REMAINING ON ABSOLUTE NNN CORPORATE LEASE – The tenant, Patient First Corporation, has over 8 years remaining on its initial 20-year term absolute NNN corporate lease. There is one more 10% increase scheduled during the remaining base term, coming in 2029, and in each of the six five-year option periods, offering an excellent hedge against inflation. Patient First is a dominant brand in the urgent care industry. Its locations are spread across key regions including the Lehigh Valley market, Central Pennsylvania, the Philadelphia metro area, as well as in Maryland and Virginia. Regionally, the chain has near 80 locations. The privately held chain will provide tenant financials with a confidentiality agreement, and most regard this tenant as investment grade. As with any medical related use, this building has an immensely expensive fit-out making it unlikely for the tenant to relocate in the future. SIGNALIZED CORNER LOCATION TO 35,969 VPD – The property occupies a prime signalized corner of a heavily trafficked intersection. South 25th Street (24,090 VPD) runs north-south and serves as a significant corridor for the area, connecting neighborhoods and commercial corridor, and intersects to the north with major east-west routes, such as Route 22 (35,418 VPD). To the south it extends over the Lehigh River and leads to a connection with Interstate-78 (77,232 VPD). Butler Street (11,879 VPD) runs as the east-west local thoroughfare in front of the property, serving as a key connector within the city. Other nearby retailers include a very high-performing Wawa directly across South 25th Street, which ranks #59 of 1,000+ stores in the chain per Placer.ai, a busy Home Depot, a high-performing Walgreens (#788 in the entire chain per Placer.ai), and the region’s dominant grocery chain, Giant Foods. DENSE EASTERN PA SUBURB LOCATED IN LEHIGH VALLEY – Easton, Pennsylvania, located in Northampton County, is nestled in Lehigh Valley at the confluence of the Delaware and Lehigh Rivers. It offers a strategic location on the Eastern portion of Pennsylvania near major commuter cities such as New York City, an hour-and-a-half to the northeast, and Philadelphia, about an hour south. There are approximately 78,264 residents within 3-miles of the Patient First property with an average household income over $103,000. Since 2010, this area has experienced population growth of nearly 7%, with another 2% expected over the next 5 years. See the Location Overview in the following pages for more information. 2ND LARGEST URGENT CARE BRAND IN THE REGION – Patient First is a privately held regional chain of urgent care centers in the Mid-Atlantic region. Patient First offers Primary Care, Urgent Care and Occupational Health Services with on-site Lab tests, prescription drugs and X-Rays. The company, which is based in Glen Allen, Virginia, opened its first medical center in 1981 and now has 78 locations. Initially opening in the Richmond area, the tenant went on a significant expansion into the Washington, DC, Baltimore, and Philadelphia markets over the last decade. In the Lehigh Valley region, the company has 3 locations, in addition to 18 in the Philadelphia area, with plans for more. It is a well-respected brand that has associated with world-renowned hospital chains, and in its four market areas, commands dominant market share making it among the top 10 largest urgent care chains in the United States. Tenant financials are available with an executed confidentiality agreement.