American Finance Trust Inc. Acquires Southeast Medical Portfolio
Cushman & Wakefield completed the $15.8 million sale of the six-clinic portfolio, occupied Fresenius Medical Care.
NEW YORK – American Finance Trust Inc. has purchased six dialysis clinics, located in Alabama and Mississippi, for $15.8 million.
The 46,121-square-foot portfolio is fully-leased to Fresenius Medical Care on a triple-net basis. The global healthcare group offers products and services for dialysis, hospitals and outpatient treatment at each of the properties.
The leases, encompassing three clinics in Alabama and three clinics in Mississippi, account for fixed-rent escalations and a weighted average lease term that exceeds 10 years.
Cushman & Wakefield’s healthcare capital markets team has completed the sale.
Cushman & Wakefield managing directors, Gina Lollio, Scott Niedergang and Travis Ives represented the portfolio’s owner, a developer and general contractor with holdings throughout the Southeast.
“This portfolio of dialysis clinics, which have remained operational throughout the pandemic, provide essential services to under-served communities,” states Niedergang. “The need for dialysis in these markets coupled with a shortage of kidney donors and alternative treatments make these facilities the main form of treatment for kidney disease. American Finance Trust’s acquisition is yet another example of private and institutional investors’ strong demand for medical office properties.”