Fresenius Kidney Care NNN Properties for Sale in Florida
Fresenius Medical Care (NYSE: FMS) is the second-largest US dialysis provider with approximately 2,600 US centers. Like DaVita, Fresenius properties benefit from sticky tenants (specialized build-out) and non-discretionary medical demand, with cap rates reflecting moderate investment-grade credit.
Typical Cap Rate
6.00% - 7.00%
Lease Term
10 - 15 years
Price Range
$2.5M - $5M
Building Size
8,000 - 11,000 SF
Lot Size
0.75 - 1.50 acres
Credit Rating
S&P: BBB-
Investment Highlights
- Second-largest US dialysis provider
- Sticky tenant (specialized build-out)
- Investment-grade corporate credit (BBB-)
- Non-discretionary medical demand
- NNN lease structure
- Florida aging demographics support long-term demand
Lease Structure
Fresenius leases are typically 10-15 year NNN with renewal options and 5-10% rent bumps every 5 years. Corporate guarantee from Fresenius Medical Care North America.
Fresenius Kidney Care Tenant Profile
Fresenius Medical Care operates 2,600+ US dialysis centers. Global parent Fresenius SE is one of Europe's largest healthcare companies. Credit: S&P BBB- (investment grade, below DaVita).
Fresenius Kidney Care in Florida
Florida has 150+ Fresenius centers. Properties trade at 6-6.75% cap rates depending on lease term and location.
Why Buy Fresenius Kidney Care
- +Investment-grade credit in a specialty category
- +Sticky tenant with high switching costs
- +Non-discretionary medical necessity
- +Duopoly category (DaVita + Fresenius)
- +Florida aging demographics tailwind
Considerations
- •Lower-end investment-grade credit
- •Healthcare reimbursement risk
- •Specialized build-out requirements
- •Category regulatory scrutiny
Related Medical Tenants
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