Davita Kidney Care
Single Tenant DaVita Kidney Care (NYSE: DVA) | Corporate Guaranty | Early Lease Extension
Marketing description
Forged Real Estate is pleased to exclusively offer the fee simple interest in a single-tenant property leased to DaVita Kidney Care (the “Property”), located in South Bend, Indiana, an established regional hub situated along the St. Joseph River and serving as the county seat of St. Joseph County. The tenant operates under a double-net (NN) lease with scheduled 2% annual rent increases beginning in 2032, offering built-in income growth. The lease is guaranteed by DaVita Healthcare Partners, Inc. (NYSE: DVA), providing investors with the security of a corporate-backed obligation. Rated BB by Standard & Poor’s, DaVita is a nationally recognized healthcare provider and has earned recognition as one of Fortune’s World’s Most Admired Companies for 15 consecutive years. Demonstrating strong financial performance, the company generated $506 million in operating income in Q3 2025. Further solidifying the investment’s stability, the tenant proactively executed a 7-year lease extension well ahead of expiration, resulting in more than 11 years of remaining term, a clear indicator of long-term confidence in the location and continued operational commitment. This combination of corporate credit, extended lease duration, and steady rent growth positions the offering as a compelling opportunity for investors seeking durable, predictable cash flow.
The property is further strengthened by its prime positioning within a densely populated trade area, with more than 132,000 residents and 55,000 households located within a five-mile radius. This strong population base reinforces consistent demand for essential healthcare services and supports long-term tenant performance. Additionally, the property benefits from excellent regional connectivity, situated less than half a mile from U.S. Highway 20, a major coast-to-coast arterial carrying approximately 39,300 vehicles per day. This high traffic volume enhances visibility and accessibility, further contributing to the site’s long-term operational viability and investment stability.
Investment highlights
CORPORATE-BACKED LEASE WITH ESTABLISHED TENANT – The lease is guaranteed by DaVita Healthcare Partners, Inc. (NYSE: DVA), the parent company of DaVita, providing investors with the security of a corporate-backed obligation. Rated BB by Standard & Poor’s, DaVita is a nationally recognized healthcare provider and has been named one of Fortune’s World’s Most Admired Companies for 15 consecutive years. The company reported a strong Q3 2025, generating $506 million in operating income, underscoring its financial stability and long-term operating strength.
EARLY LONG-TERM COMMITMENT SECURED – The tenant proactively executed a 7-year lease extension well before expiration, increasing the remaining lease term to more than 11 years. This early renewal signals strong confidence in the location and long-term operational commitment, providing investors with durable, stable cash flow.
DENSELY POPULATED TRADE AREA – The property is strategically positioned within a densely populated 5-mile radius, home to over 132,000 residents and 55,000 households. This substantial population base supports consistent demand for services, reinforcing the location’s long-term viability for tenant performance and investor stability.
NEARBY MAJOR US HIGHWAY (US-20) – Strategically located less than half a mile from U.S. Highway 20, a key east–west arterial spanning coast to coast, the property benefits from excellent regional connectivity and exposure to approximately 39,300 vehicles per day (VPD). This strong traffic count supports tenant accessibility, enhancing long-term operational viability.
HIGH-PROFILE ACADEMIC HUB DRIVING LONG-TERM MARKET STABILITY – The South Bend metro area is anchored by several colleges and universities, supporting a highly educated workforce and strong economic base. The most notable institution, The University of Notre Dame, is located just five miles north of the site and is recognized as the #1 Large Employer in America (Forbes, 2025) and the #12 university nationally (College Consensus, 2025). The presence of major higher-education institutions reinforces long-term population stability, steady employment growth, and consistent healthcare service needs.
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