Join Apta in Shore Terrace Medical Center, a stabilized 42,632 SF medical office building in Indianapolis. The property is 89.8% leased to a healthcare-anchored tenant mix with a 9-year weighted average lease term in place at acquisition.
Anchored by Fresenius Kidney Care (Fortune Global 500 dialysis provider, lease through 2030) and Centria Healthcare (national autism therapy network, lease through 2038 with 2.5% annual escalations). Together, 81% of the building.
Acquired at $220.49 PSF, below the $235.89 PSF Indianapolis MOB comparable average. One vacant 4,357 SF suite presents near-term lease-up upside in a submarket with limited new supply.
Surgeons read this asset class better than most investors. Specialized buildouts, established patient panels, NNN leases. Healthcare tenants do not relocate. That is the thesis.