Heartland Dental & UnityPoint Clinic | Ankeny, IA

Strong Credit Medical Tenancy | NNN Leases, Minimal LL Responsibilities

1055 & 1075 SW Oralabor Road, Ankeny, IA 50023

Investment Highlights

Investment-Grade & Institutionally Backed Tenancy

• UnityPoint Health (Fitch AA-): one of the nation's largest nonprofit health systems, with 20 regional hospitals, 19 community hospitals, and 400+ clinics across Iowa, Illinois, and Wisconsin
• Tenant entity is a direct, wholly owned subsidiary of UnityPoint Health
• The subject clinic ranks in the top 19% of urgent care locations nationwide (Placer.ai)
• Heartland Dental: the nation's largest dental support organization, with 1,800+ affiliated practices across 39+ states, majority-owned by KKR ($750B+ AUM)

Attractive Near-Term Rent Growth

• Heartland Dental's rent is scheduled to increase 10% in January 2028
• UnityPoint has no renewal options and has invested significantly into its build-out

Prior Municipal Approval for a Lot Split

• Approval already in place to separate the asset into two independent, single-tenant medical parcels, giving an incoming owner built-in optionality (contact broker for details)

Ankeny: One of the Fastest-Growing, Highest-Ranked Cities in America

• 79,000+ residents within 5 miles of the subject property, with AHHI exceeding $130,000
• #4 fastest-growing city in the U.S. (U.S. Census Bureau), and the fastest-growing city in the Midwest
• #1 "Best Place to Live in Iowa" (U.S. News Real Estate, 2026-2027)
• #4 "Best Place to Live in the U.S." out of 850+ cities evaluated (U.S. News & World Report, 2026)

Des Moines MSA: #1 Fastest-Growing Major Metro in the Midwest

• 758,000+ metro population
• 20% population growth from 2010 to 2021, outpacing Chicago, Omaha, Kansas City, Milwaukee, Minneapolis, and St. Louis (U.S. Census Bureau)
• MSA GDP exceeded $62 billion in 2024, up $2 billion year-over-year (DSM USA Data Hub)
• #4 "Most Livable Metro in the U.S." for 2026 out of 149 metros evaluated (RentCafe)