Coldwell Banker Commercial is pleased to offer qualified investors the opportunity to acquire the

fee-simple interest in a newly constructed, single-tenant medical

office facility located in Modesto (the “Property”).

The Property consists of 0.61 acres improved with a one-story, 4,214-square-foot medical office

building that was built-to-suit in 2023 to the Tenant’s exact spec-ifications. Investors may also

acquire an adjacent, vacant 0.57-acre parcel featuring designed shared parking access and expansion

flexibility. The Property is strategically positioned near the signalized intersection of Dale Road

(approximately 14,000 vehicles per day) and Kiernan Avenue (approximately 27,000 vehicles per day)

and is immediately adjacent to the region’s dominant hospital campus, Kaiser Permanente’s Modesto

Medical Center. The surrounding five-mile trade area includes approximately 129,000 residents with

an average household income exceeding $97,000 annually.

The Tenant recently completed a comprehensive build-to-suit incorporating its brand-new prototype,

representing the top tier of the kidney care industry with respect to patient experience, clinical

functionality, and energy-efficient design standards. A neighboring dialysis facility—developed as

a build-to-suit approximate-ly six years ago and owned by a third party—previously housed both

inpatient and home-health operations. Due to physical constraints within that building, the Tenant

was unable to expand its inpatient hemodialysis services. To accommodate growth, the Seller

acquired the adjacent parcel and relocated the home-health component into the newly constructed

facility, allowing inpatient operations to expand within the original building. The two

complementary facilities now house distinct functions, with supervising medical professionals able

to walk between locations.

The Property is secured by an initial fifteen-year (15-year) lease term featuring three (3)

five-year renewal options. The lease is the Tenant’s standard form used across the majority of its

national portfolio and is structured as a highly passive, landlord-favorable net lease with minimal

expense exposure due to the new con-struction. Rental increases of ten percent (10%) occur every

five (5) years throughout the term and option periods.

The lease is unconditionally guaranteed by DaVita, Inc., one of the world’s leading kidney care

providers, operating more than 2,724 outpatient clinics across 46 states and providing acute

inpatient dialysis services in approximately 850 hospitals nationwide. DaVita, Inc. is publicly

traded and ranked No. 323 on the Fortune

500. As of December 31, 2022, the company reported revenues exceeding $11.61 billion and net income

of approximately $547 million. DaVita, Inc. is credit-rated Ba3 by Moody’s Investor Services and BB

by Standard & Poor’s Rating Service. Berkshire Hathaway, led by Warren Buffett, is a long-time

shareholder and owns

approximately 38% of the company’s outstanding shares, representing one of its largest equity

positions.