Cove LaPlace Dialysis DST
LaPlace, LA
| Asset Class: | Medical Net Lease |
| Leverage: | 0% - All-Cash/Debt-free |
| Location(s): | LaPlace, LA |
| Minimum Investment: | $25,000 |
| Current Distribution | Monthly/Inquire |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
An all-cash/debt-free offering. LaPlace Dialysis DST is a 7,090 SF medical center leased to tenant Fresenius Kidney Care and corporately backed by Fresenius Medical Care Holdings (NYSE:FMS). The offering has 11 years remaining on the primary lease term with three five-year renewable options.
Located in a favorable location beside South Lake Surgery Center and benefits from excellent visibility along Belle Terre Blvd; as well as has direct access to Route 10 and Route 55.
MSA Details
LaPlace is a census-designated place in St. John the Baptist Parish, Louisiana. LaPlace is situated along the east bank of the Mississippi River, a community that is located 25 miles west of New Orleans and is part of the New Orleans metropolitan area. The Port of South Louisiana is headquartered in LaPlace, and transportation assets for residents and distribution companies include Interstates 10 and 55 along with U.S. Route 51. Students can attend high-ranking St. John the Baptist Parish Schools. The city’s nickname is “Andouille Capital of the World” that refers to a variety of spicy sausage.
Property Highlights
- All-cash/debt-free offering; 7,090 SF medical net lease built in 2016
- Long-term net lease through December 31, 2031 with three 5-year renewal options
- The lease is corporately guaranteed by parent company Fresenius Medical Care Holdings (NYSE:FMS); BBB- rating by S&P
- 100% occupied
- Investment grade tenant
- Excellent access and visibility on Belle Terre Blvd and direct access to Route 10 and Route 55
- About 30 minutes from New Orleans and its hospitals, infrastructure, etc.
Source: Brochure
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
