Overview

Description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a CTL financed Zero Cash Flow, U.S. Department of Veterans Affairs investment property located in Lafayette, Louisiana. The lease is guaranteed by the United States (S&P: AA+) and has approximately 13 years remaining of firm term on the initial 20-year lease. Additionally, the paydown/readvance feature that comes from a Zero Cash Flow structure further benefits a buyer with a 1031 exchange. The Veterans Health Administration (VHA) is the largest integrated health care system in the United States, providing care at 1,255 health care facilities, including 170 VA medical centers and 1,074 outpatient clinics providing care to over 9 million Veterans enrolled in the VA health care program.

The build-to-suit property was constructed in 2016 and has a state-of-the-art design with modern amenities and offers a wide range of services including primary care, dental/oral surgery, physical therapy, radiology, and more. Furthermore, the asset is strategically positioned less than 4 miles from Our Lady of Lourdes Regional Medical Center (379 beds) and Ochsner University Hospital & Clinics (116 beds). With only one other VA Health Clinic located in a 35-mile radius, the site benefits from extremely limited competition. Moreover, the subject property is in a dense residential area with more than 55,000 households in a the 5-mile subject trade area and multiple apartment complexes including The Park Place Apartments (192 units), The Stonegate Apartments (105 units), The Willow Gardens Apartments (110 units), and more. In addition, the asset is situated near U.S. Highway 167 (48,700 VPD), and State Highway 93 (14,500 VPD), making this an ideal centralized location with easy commutes. The site is located in Lafayette City, the county seat of Lafayette Parish (247,866 population), and is positioned less than 5-miles from the heart of downtown Lafayette, providing a strong regional draw. Lastly, there is a large concentration of seniors in the area with 41% of household owners in the immediate 5-mile area being above the age of 50.

Highlights

• NOI $1,265,777 | CAP 7.35%
• HIGH VISIBILITY ON AMBASSADOR CAFFERY PARKWAY | 36,000 VPD
• STRONG DEMOGRAPHICS WITH 134K+ POPULATION IN 5-MILE RADIUS
• SEVERAL NATIONAL BRANDS IN CLOSE PROXIMITY: WALMART, CVS, WALGREENS, LOWE'S, THE HOME DEPOT, SAM'S CLUB, MCDONALD'S, TJ MAXX, STARBUCKS, AUTOZONE, DOLLAR GENERAL, UL HEALTH MEDICAL CENTER AND MORE
• 150 SURFACE PARKING SPOTS
• OUTPATIENT CLINIC FOR VETERANS
• TENANT: UNITED STATES OF AMERICA
• ZERO CASH FLOW
• (TAX BENEFITS)
• PAYDOWN READVANCE
• ZERO CASH FLOW (TAX BENEFITS) WITH PAYDOWN READVANCE
• CORPORATE GUARANTEE FROM USA – AAA RATING

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