The Subject property, located in the USC area of Los Angeles, was assembled from late 2006 through mid 2007, at which time it consisted of an auto repair shop, a strip retail center and vacant land. A 10-year triple net lease was negotiated with DaVita Inc., the dialysis division of DaVita HealthCare Partners Inc., a Fortune 500 company. DaVita Inc. operates approximately 1,950 outpatient dialysis centers in the United States.
The entire 30,151 square foot site was scraped and replaced with a 9,988 square foot dialysis center. The Subject property consists of exam rooms, medical and office space, an employee lounge, conference space and 28 dialysis stations.
In June of 2013 the Property was refinanced, at which time approximately 75% of our partners’ equity was returned. This facility continued to perform well for DaVita Inc. and continued to provide our partners with cash flow.
This property was sold June 2019 at a price of $7,0505,000, resulting in a $3,250,000 profit to our partnership.
