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 property benefits from a dense concentration of national tenants, including a Walmart Supercenter, Target, Sam’s Club, Best Buy, Chase Bank, Taco Bell, Applebee’s, Dollar Tree, Chevron, Panda Express, as well an abundance of nationally-recognized hotel chains including Day’s Inn, Ramada Suites, Econo Lodge and many more. 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 $80,766, and the 5- mile population exceeds 244,770. Albuquerque has experienced steady growth with a 3.3% population increase from 2010-2020. The subject property is located within close proximity (less than 2 miles) to the Presbyterian Kaseman Hospital in Albuquerque, NM - 118 bed hospital with emergency and speciality health services and part of the larger Presbyterian Healthcare system