Fresenius Medical Care

Bedrock Investments Group (BIG) acquired this 6,730 sf freestanding dialysis facility on over 1.0 acre of land leased to Fresenius SE & Co. KGAA (ETR:FRE) dba Fresenius Medical Care (FMC) in 2015. Centerville, TN is the county seat for Hickman County, approximately 50 miles from Nashville, TN. The “build-to-suit” 16 chair facility was opened in 2007 with existing capacity for service expansion. A strategic location for FMC, the site currently operates two treatment shifts three (3) days per week at maximum capacity. The Life Care Center of Centerville, a skilled nursing facility with 132 beds is adjacent to the site. The Hickman Community Nursing Home, less than ½ mile from the site, has 40 beds. FMC Centerville is approximately 1/4 mile from St. Thomas Hickman Hospital, the only acute care hospital in Hickman County. At time of acquisition, the lease had four (4) years and ten (10) months of term remaining with three (3) options. Purchase price ($230.54/sf) is below estimated replacement cost for this building with approximately $1,000,000 in interior improvements. The closest dialysis facilities are FMC Dickson, (twenty-nine (29) miles) and FMC Columbia (thirty (30) miles). The most recent CAPEX improvements included a new 40 year roof in 2013 and replacement of an HVAC unit in 2013. The owners were “out-of-state” octogenarians selling for health and estate planning requirements. Lease was extended in 2020.