Kingsley ASC | GI Alliance & HCA Healthcare (S&P: BBB-)
Kingsley ASC | GI Alliance & HCA Healthcare (S&P: BBB-)
Marketing description
Kingsley Endoscopy Center is a newly constructed, institutional- quality ambulatory surgery center and medical outpatient building located in Orange Park, Florida, within the Jacksonville Metropolitan Statistical Area, one of the fastest-growing and most demographically favorable healthcare markets in the Southeast.
Constructed in 2020, the Property is 100% leased to GI Alliance under a long-term lease structure, providing stable, predictable cash flow with minimal landlord responsibilities. GI Alliance is the nation’s largest physician-led gastroenterology platform, operating more than 345 practice locations across 21 states and supporting over 1,100 physicians.
HCA Healthcare (S&P: BBB–) is one of the largest hospital operators in the United States with more than 190 hospitals and approximately 2,400 ambulatory care sites nationwide. Within the Jacksonville MSA, HCA Healthcare operates two (2) acute care hospitals totaling approximately 819 licensed beds, providing a strong referral base, and reinforcing the market’s depth of clinical infrastructure.
Consisting of 13,806 rentable square feet, Kingsley Endoscopy Center features three (3) fully equipped operating rooms and modern clinical infrastructure purpose-built for advanced gastroenterology procedures. The Property’s specialized design, high replacement cost, and mission-critical functionality create meaningful barriers to relocation or functional obsolescence.
The Absolute NNN lease includes fixed 2.50% annual rent escalations, providing consistent NOI growth and inflation protection. Situated within a healthcare- rich MSA anchored by major hospital systems, expanding physician networks, and sustained population in-migration, Kingsley Endoscopy Center represents a compelling opportunity to acquire a modern outpatient healthcare asset supported by investment-grade tenancy and long-duration income visibility.
GI Alliance, acquired by Cardinal Health (S&P “BBB”) in November 2024, owns 100% of the clinical entity. The ASC entity is structured as a joint venture between HCA Healthcare and GI Alliance, which collectively hold a 60% ownership interest, with the remaining 40% owned by the practicing physicians of Orlando Digestive Disease.
Investment highlights
100% LEASED TO GI ALLIANCE
The Property is fully leased to GI Alliance, the largest physician-led gastroenterology platform in the United States, providing durable tenancy and long-term income stability.
NATIONAL, SCALED PHYSICIAN PLATFORM
GI Alliance operates more than 345 practice locations across 21 states, supporting over 1,100 physicians, offering meaningful scale, diversification, and operating depth.
CREDIT ENHANCEMENT VIA CARDINAL HEALTH ACQUISITION
In November 2024, GI Alliance was acquired by Cardinal Health (S&P ‘BBB’), materially strengthening the tenant’s balance sheet, access to capital, and long- term strategic stability.
PURPOSE-BUILT ASC
The Property was specifically designed for advanced gastroenterology procedures, enhancing operational efficiency and reinforcing its mission-critical nature to tenant operations.
ASC SUBLEASED TO STRONG HCA-AFFILIATED JV
The ASC component is subleased to a joint venture between Orlando Digestive Disease Consultants and HCA Healthcare (S&P ‘BBB–‘), aligning physician ownership with one of the nation’s largest hospital systems.
HCA HEALTHCARE REGIONAL MARKET STRENGTH
HCA Healthcare operates two acute care hospitals in the Jacksonville MSA totaling approximately 819 licensed beds, creating a deep referral base and reinforcing long-term outpatient demand.
THREE ORS WITH STATE-OF-THE-ART CLINICAL SPACE
The facility includes three fully equipped operating rooms and modern clinical infrastructure designed to institutional standards for high-acuity outpatient procedures.
LOCATED IN A STRONG AND GROWING HEALTHCARE MSA
The Property is located within the Jacksonville Metropolitan Statistical Area, one of the fastest-growing healthcare markets in the Southeast, supported by population in-migration and expanding healthcare infrastructure.
HEALTHCARE-DENSE TRADE AREA
Orange Park benefits from proximity to major hospital campuses, physician networks, and specialty providers, driving consistent patient volumes and referral activity.
NEWLY CONSTRUCTED FACILITY
Built in 2020, the Property features modern building systems and layout, limiting near-term capital expenditure requirements and appealing to institutional ownership.
HIGH BARRIERS TO RELOCATION OR OBSOLESCENCE
The Property’s specialized design, high replacement cost, and regulatory complexity create meaningful barriers to relocation, supporting long-term tenant retention.
INSTITUTIONAL OUTPATIENT HEALTHCARE INVESTMENT PROFILE
The combination of investment-grade sponsorship, mission- critical use, modern construction, and strong healthcare market fundamentals positions the Property as a highly attractive, long-duration outpatient healthcare investment.
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