For Immediate Release
Cushman & Wakefield’s Healthcare Capital Markets Team Closes Sale of Fresenius Medical Care Portfolio in Alabama and Mississippi
Six-clinic Portfolio Draws $15.8 million Investment from Buyer American Finance Trust, Inc.
CHICAGO, November 30, 2020 – Cushman & Wakefield announced today that the firm’s Healthcare Capital Markets team has completed the $15.8 million sale of six dialysis clinics occupied by Fresenius Medical Care to American Finance Trust, Inc., a real estate investment trust (REIT) with a diversified portfolio focused on service-oriented and traditional retail commercial real estate properties. Cushman & Wakefield Managing Directors Gino Lollio, Scott Niedergang and Travis Ives represented ownership, a developer and general contractor with holdings throughout the southeast.
The portfolio, with three clinics in Alabama and three in Mississippi fully leased by Fresenius on a triple-net basis, totals 46,121 square feet. Leases account for fixed-rent escalations and a weighted average lease term remaining that exceeds 10 years.
“This portfolio of dialysis clinics, which have remained operational throughout the pandemic, provide essential services to under-served communities,” said 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.”
Fresenius Medical Care is a global healthcare group offering high-quality products and services for dialysis, hospitals and outpatient treatment. With over 67,000 U.S. employees and over 2,400 dialysis centers in the United States, Fresenius is one of the world’s leading healthcare companies providing services to over 200,000 daily patients. Fresenius also offers specialty pharmacy and laboratory services, as well as manufacturing and distributing the most comprehensive line of dialysis equipment, disposable products and renal pharmaceuticals.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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