Investment Overview

The vast majority of single tenant dialysis properties operate under double net leases that require landlords to maintain certain capital improvements such as the roof, structure and parking lot. The subject property offers a very rare absolute NNN lease for a corporately guaranteed single tenant dialysis property with no management or maintenance responsibilities whatsoever. The subject property operates under an absolute NNN lease that offers an industry-leading annual rent increase schedule based on CPI with an annual floor of 1% and cap of 2% during the primary term and otion periods. The subject property benefits from a dense concentration of national retailers, regional medical specialists, senior living communities and high-end residential communities surrounding it: Walmart Supercenter, Target, Whole Foods, Walgreens, Hobby Lobby, Academy Sports, Dick’s Sporting Goods, Best Buy, Menard’s, and many more. The subject property is corporately guaranteed lease by Fresenius Medical Care, with annual revenues of $19.3 B (FY 2024) and carrying a credit rating of “BBB” from Standard & Poors and “Baa3” from Moody’s (“investment grade”). Within a 1-mile radius, the average household income is $109,656, and the 5-mile population exceeds 152,893. Wichita has experienced steady growth with a 2.1% population increase from 20202 through 2024. The subject property is located within close proximity to a number of regional hospitals and medical treatment centers: Wesley Woodlawn Hospital (2.6 miles), Kansas Medical Center (4.9 miles), Via Christi St. Francis Hospital (7.4 miles), Kansas Heart Hospital (2.2 miles).