SECURE INCOME STREAM

  • ​New 10 year lease term expiring in May 2031
  • ​Scheduled 1.7% annual rent increases, plus three, 5-year options provide attractive rent growth during the lease term
  • ​2021 renovation-to-suit for Fresenius Kidney Care, brand new state-of-the art home training clinic

ESSENTIAL, RECESSION-RESISTANT TENANT

  • ​Florida is a tax free state
  • ​The government has provided healthcare coverage for end stage renal disease (ESRD) since 1972 under the Medicare ESRD Program
  • ​Fresenius Kidney Care has an S&P investment grade rating of BBB- and has a net worth of $10.144 Billion
  • ​Given the nature of the product, Fresenius Kidney Care is a recession-resistant tenant that has been least affected by the demand of e-commerce and the recent COVID-19 Pandemic

PROXIMITY

  • ​Rare South Florida location surrounded by dense residential neighborhoods, national retailers and local hospitals; AdventHealth Daytona Beach (327 beds) and Halifax Health (88 patient beds)
  • ​Ideally located with excellent access and visibility from Dunlawton Avenue (Traffic Count: 40,000 VPD), and under 3 miles east of Interstate 95 (Traffic Count: 60,000 VPD), which provides direct access to the city of Daytona Beach, Orlando, Ft. Lauderdale & other major coastal cities
  • Exceptional demographics Over 107,000 residents and an average household income exceeding $73K within a five-mile radius

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Location