San Antonio Commercial Real Estate – Net Leased Medical Investment – National Tenant
Executive Summary – San Antonio Commercial Real Estate – Triple Net Leased Investment
4653 Binz Engleman is a 12,500 SF Medical office building leased to a Fortune 500 Medical Tenant called Fresenius (11,000 SF) and a regional medical group called San Antonio Kidney Disease Centers (1500 SF) The 5 year lease extension with Fresenius (original lease commenced in 1999 when building was built)commences July 1, 2010. A five year extension commenced with SAKDC January 26, 2011.
Base year NOI is $245,430.
List Price of $2,517,230,000 is based on a 9.75% capitalization rate (cap rate) on the base year “ACTUAL”NOI.
This property is conveniently located for dialysis next to the recent HUGE expansion at Brook Army Medical Center (BAMC) provided to “Military town USA” by the US Government. LINK TO BAMC SITE
This unit continues (round one began in 1999) to “fight the good fight” against the growing kidney failure epidemic that Texas owns (largely driven from Texan’s eating habits). I would anticipate that this unit will remain a mainstay in this area due to San Antonio’s forecasted explosive growth!!!! LINK TO SAN ANTONIO ECONOMY
If you like investing in Commercial Real Estate in San Antonio, Texas why wouldn’t you choose to place your hard earned money into an investment leased (long term) by a multiple medical tenants providing a service that extends lives? The patrons of these facilities might skip a burger or buying a new gas can at the auto supply NNN assets that you are considering down the street from this one, but would they skip their dialysis treatment?
Fresenius Medical Care (NYSE: FMS) is the world’s leading company devoted to patient-oriented renal therapy. Through 2,600 kidney dialysis clinics in North America, Europe, Latin America, Asia-Pacific and Africa, we provide 32 million life-saving dialysis treatment to more than 215,000 patients worldwide. We are also the world’s pre-eminent provider of dialysis products such as hemodialysis machines, dialyzers and related disposable products. Chronic kidney failure is a condition that affects about 2 million individuals worldwide. Fresenius Medical Care’s 2010 revenues exceeded $12 billion.
In the United States, Fresenius Medical Care is the largest provider of dialysis products and services. With over 1,800 kidney dialysis clinics, we care for nearly 138,000 patients. Our clinical laboratory unit, Spectra furnishes 57 million renal-specific lab tests annually. Whether it is managed care, clinical educational or management services, clinical trial management, dialysis machines, supplies or renal pharmaceuticals, Fresenius Medical Care offers a comprehensive portfolio of caring and knowledge for the renal community.
US Employees : 45,000
Major U.S. Locations
Waltham MA: Corporate Headquarters
Nashville TN: Clinical Affairs
Ogden UT: Manufacturing
Walnut Creek CA: Manufacturing
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Ben Lipps, Chairman and CEO Fresenius Medical Care
Rice Powell, CEO Fresenius Medical Care North America and
Deputy Chairman of the Management Board
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