The 14,400 sf property was acquired as a lender REO from US Bank. The lease with Fresenius SE & Co. KGAA (ETR:FRE) dba Fresenius Medical Care (FMC) had 6+ years remaining on the primary term. The property, previously a Western Auto store, is situated on a main thoroughfare in Seguin Texas, adjacent to Texas Lutheran University, and numerous commercial businesses. The property was listed for sale at $1,400,000.00. BR Seguin LLC negotiated a sales price to provide an attractive return to its investors/partners based on the 2012 net operating income (NOI) and closed on the acquisition in September 2012. FMC expanded the facility by an additional eight (8) dialysis stations in 2014. FMC has invested over $500,000.00 in capital improvements to the facility since 2009 and two lease renewals have occurred since the original acquisition.
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