Castle Rock, CO - Sandstone Care

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, Sandstone Care investment opportunity located in Castle Rock, Colorado (Denver MSA). The tenant has over 12 years of firm term remaining and 3 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 3% annual increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. The lease is NN with limited landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

Sandstone Care, founded in 2015 in Denver, CO, is a leading provider of high-quality care for teens, young adults, and adults overcoming challenges with substance abuse and mental health conditions. The organization offers services across Colorado, Maryland, Illinois, and Virginia. Sandstone Care was recently acquired by the Chicago-based private equity firm, The Vistria Group, in 2022. The Vistria Group has over $16 billion in AUM and is one of health care’s most active private equity investors, particularly in behavioral sciences and hospice care. Companies in their portfolio include Behavioral Health Group, Health at Home, and Mission Healthcare. Sandstone Care now has unparalleled access to financial resources, expertise, and guidance to improve its operations, implement best practices, and grow its business.

Sandstone Care is strategically located near the signalized, hard corner intersection of Highway 86 and Woodlands Boulevard which supports more than 43,000 vehicles per day. Furthermore, the site benefits from nearby access to Interstate 25 (140,000 VPD), Highway 85 (16,000 VPD), and more, making this an ideal, centralized location with easy commutes. Moreover, the asset is surrounded by several major master planned communities, including Pioneer Ranch (1,123 residential units and 400,000 SF of office/retail), Pine Canyon (1,800 residential units), and Canyons South (515 homes), supporting continued population growth and long-term demand for healthcare services in the immediate trade area. The property is located less than two miles from AdventHealth Castle Rock, a 90-bed acute care hospital, positioning Sandstone Care within an established healthcare corridor that supports coordinated patient care and referral opportunities. The 5-mile subject trade area is supported by more than 97,000 residents and 27,000 daytime employees who boast extremely affluent average household incomes of $191,000.

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