March 28, 2017 – Blake Barbarisi and Adam Mancinone, of Horvath & Tremblay, have successfully completed the sale of Fresenius Medical Center in Farmville, North Carolina. Horvath & Tremblay procured the buyer to close the property at a sale price of $3,550,000, a cap rate of 6.4%.
The 7,186-square foot, newly constructed property is fully occupied by Fresenius Medical Care and operates under a double net lease with over 14 years remaining on the initial lease term with three, five year renewal options and scheduled rental escalations every five years. The Lease is guaranteed by Fresenius’ corporate parent, Fresenius Medical Care Holdings, Inc., (“FMCH”). With a current net worth of over $22.5 billion, FMCH is the largest provider of renal care, both internationally, and throughout the nation. This is a unique property as it is located in a “Certificate of Need” state which places limitations on the development of new facilities, preventing health care competition with the subject property while creating a high barrier of entry for competition.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.