Office Medical

Baptist Health Hardin

Listing Price: $7,081,715

Cap Rate
5.56%
Gross SF
20,915
Rentable SF
20,915
Price/Gross SF
$338.60
Year Built
2008
Lot Size
2.86 acres

Investment Overview

Baptist Healthcare's acquisition of the former Hardin Memorial Health was finalized on 9/1/2020. Baptist has committed to invest $235M in capital and operating investments over the next 10 years, and over $360M all told. The acquisition will be the ninth entity under the Kentucky/Indiana Baptist footprint.

Baptist Healthcare Hardin (BHH) features a 300-bed acute care hospital, and more than 45 additional locations throughout the region, including this facility. BHH cares for over 400,000 total patients in central Kentucky, and has over 230 physicians within its system, and a total of over 2,100 staff members. It is the third largest employer in Hardin County.

The subject facility is part of BHH's Family Medicine practice. The location just adjacent to Fort Knox is ideal. Fort Knox is one of the largest multi-function U.S. Army facilities in the country (over 108,000 acres); over 25,000 soldiers, employees, and family members are based here.

Investment Highlights

  • Lease term includes significant base rent bumps in Year 3 (18.1%) and Year 6 (10.3%)
  • Average annual rent increase is 3.2% over lease term; NOI yelds enhanced
  • Baptist systemwide revenue in 2019 was $2.9B; total assets of $3.5B; Fitch rated "A"
  • One of only three Family Practice locations in BHH footprint
  • Cameron Group phased development will aid in the area's revitalization
  • Owner & BHH combined invested ~ $65 psf in buildout and equipment costs

Exclusively Listed By

Listing Price: $7,081,715

Cap Rate
5.56%
Gross SF
20,915
Rentable SF
20,915
Price/Gross SF
$338.60
Year Built
2008
Lot Size
2.86 acres

Investment Highlights

  • Lease term includes significant base rent bumps in Year 3 (18.1%) and Year 6 (10.3%)
  • Average annual rent increase is 3.2% over lease term; NOI yelds enhanced
  • Baptist systemwide revenue in 2019 was $2.9B; total assets of $3.5B; Fitch rated "A"
  • One of only three Family Practice locations in BHH footprint
  • Cameron Group phased development will aid in the area's revitalization
  • Owner & BHH combined invested ~ $65 psf in buildout and equipment costs

Investment Overview

Baptist Healthcare's acquisition of the former Hardin Memorial Health was finalized on 9/1/2020. Baptist has committed to invest $235M in capital and operating investments over the next 10 years, and over $360M all told. The acquisition will be the ninth entity under the Kentucky/Indiana Baptist footprint.

Baptist Healthcare Hardin (BHH) features a 300-bed acute care hospital, and more than 45 additional locations throughout the region, including this facility. BHH cares for over 400,000 total patients in central Kentucky, and has over 230 physicians within its system, and a total of over 2,100 staff members. It is the third largest employer in Hardin County.

The subject facility is part of BHH's Family Medicine practice. The location just adjacent to Fort Knox is ideal. Fort Knox is one of the largest multi-function U.S. Army facilities in the country (over 108,000 acres); over 25,000 soldiers, employees, and family members are based here.

Exclusively Listed By

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