Fresenius Medical Care

July 29, 2019 – Brendan Conway of Horvath & Tremblay has successfully completed the sale of Fresenius Medical Center in Somerset, Kentucky. Horvath & Tremblay procured the 1031 exchange buyer to complete the transaction at a sale price of $2,229,797, a 5.9% cap rate.

Fresenius Medical Center operates under a new, rare 15-year triple net lease with zero landlord responsibilities. In addition, there are three, 5-year renewal option periods. Fresenius has a 19-year operational history at this location and is situated just off of US Highway 27 in a premier regional medical and retail hub. The facility is located near the 54-acre, 19-tenant, $30 million MedPark West Professional Center and Lake Cumberland Regional Hospital (295 patient beds). National retailers in the immediate trade area include CVS/pharmacy, The UPS Store, O’Reilly Auto Parts, Walgreens, Pizza Hut, Kroger Grocery Store, Advance Auto Parts, KFC, Hertz, BB&T, Papa John’s Pizza and Dunkin’ Donuts. This dialysis center is one of two renal care clinics in Somerset, with the next nearest dialysis center more than 45 minutes away.

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.