Fresenius Medical Care: Germantown, TN

RARE 20-YEAR LEASE WITH ANNUAL CPI INCREASES
New 20 year Absolute NNN lease with annual CPI rent increases (1% floor, 2% max). There are an additional three, 5-Year Renewal Option Periods.

ABSOLUTE NNN LEASE
Unlike the standard dialysis center leases with significant Landlord responsibilities (such as roof, structure, parking lot and HVAC replacement), the Subject Property has an absolute NNN lease structure that provides an investor with a long-term, passive income stream with no landlord maintenance responsibilities whatsoever. See Market Lease Comparison on pages 2-3.

WELL-ESTABLISHED LOCATION IN AN AFFLUENT MEMPHIS SUBURB
Fresenius has operated at this location in the Wolf River Professional Center since approximately 2002(1) , boasting exceptionally high average household incomes of $116,197 within a 1-mile radius and 175,055 residents within a 5-mile radius of the subject property.

INVESTMENT GRADE TENANT
Fresenius Medical Care Holdings, Inc., the Guarantor under the Lease, carries an Investment Grade Credit Rating of “BBB-” from S&P and “Baa3” from Moody’s.

FRESENIUS MEDICAL CARE CORPORATE LEASE (2)
• Fresenius Medical Care reported $17.8 Billion in revenue and a net worth of $10.8 Billion (2017)
• Fresenius Medical Care is the world’s largest provider of products and services for individuals with renal diseases of which approximately
3.2 million patients worldwide regularly undergo dialysis treatment
• Revenue in North America, approximately 72% of Fresenius Medical Care’s total revenue, increased 8% from the previous year
• Fresenius Medical Care serves 320,960 patients in more than 50 countries across 3,752 clinics
• Fresenius Medical Care employs more than 114,000 people in more than 50 countries around the world, which includes approximately 60,000 in North America

(1) Date of Tenant’s occupancy is an estimate. Buyer will need to verify the accuracy of these estimates during their Due Diligence process.
(2) All financial data shown above is for Fresenius Medical Care, which does not guarantee the Lease. Lease is guaranteed by the U.S. entity, Fresenius Medical Care Holdings, Inc., which carries an investment grade credit rating of “BBB-” from S&P and “Baa3” from Moody’s.
Sources: www.freseniusmedicalcare.com, Yahoo Finance, Standard & Poor’s, Moody’s.

TN Broker of Record: Jody McKibben
License: 307629