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|Current / Passing Rent||
|Remaining Term||16 years, 1 month|
|Tenant||United States Department of Veterans Affairs|
|Guarantor||United States Department of Veterans Affairs|
A single-tenant, freestanding Department of Veterans Affairs (‘VA’) Outpatient Clinic is up for sale. Located at 3149 Ambassador Caffery Parkway, Lafayette, Louisiana, the property is built-to-suit for the VA and serves area veterans seeking treatment for procedures that do not require an overnight stay. The lease is signed and guaranteed by the United States of America with 17 years of contractual term remaining. The tenant is signed to a fully-managed modified gross lease, currently administered by the original developer (Birmingham-based Johnson HRE) who is willing to remain in their property management function. Through this arrangement, the investment is effectively NNN to ownership, with no direct ownership responsibilities. The logistics of rent and expense payments are handled solely by the tenant, lender and manager.
The property is subject to assumable CTL financing, creating a substantial tax shelter against earned income from other investments. This offering presents an outstanding opportunity to acquire a new facility with rent backed by the highest investment-grade credit, while requiring minimal equity due to in-place financing.
- Fee simple interest
- 17 years remaining on the 20-year lease
- Attractive in-place CTL Financing
- Leased to the United Stated of America
- ‘AAA’ Grade Credit backing the lease
- Large 6.7-acre parcel in Ambassador Caffery
- Impressive Lafayette Market
- Strategic outpatient clinic location for the VA