DaVita of Hillsboro, IL Investment Opportunity
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Overview / Comments
Peranich Huffman Net Lease Group is pleased to offer for sale on an exclusive basis, the single-tenant net leased DaVita Dialysis Facility of Hillsboro, Illinois, a Certificate-of-Need state. Renovated in early 2016, the 5,207 square foot condominium is leased on a Corporately Guaranteed, long term double-net basis to DaVita’s parent company, DaVita Healthcare Partners, Inc. Per the double net structure of the lease, the Landlord is responsible for the repair and replacement of the roof, structure and parking areas of the building but is to be reimbursed for repairs made to both the parking area and roof in addition to replacement costs for all three on an amortized basis. Tenant is solely responsible for the HVAC and maintenance of the premises. In addition to the base rent the Tenant pays an additional management fee of $2,250/yr; there is no third party management in place, nor is it needed; therefore this income is viewed as additional rent. The facility contains eight stations in addition to DaVita PD offices and their home training unit. Offered at a 6.25% capitalization rate, DaVita of Hillsboro, IL provides an investor with the opportunity to acquire a property with a strong operation that is home to a national medical tenant that exemplifies a reputation of consistency for both patients and the real estate investment community. DaVita Healthcare Partners, Inc., has a net worth in excess of $16.2 billion and currently holds an Investment Grade Standard & Poor’s credit rating of "BB Stable". As a leading provider of kidney care in the United States, DaVita is a Fortune 500® company that, through its operating divisions, provides a variety of health care services to patient populations throughout the United States.
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