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4963 W Union Rd, Millington, TN 236 N Highland Ave, Prestonsburg, KY 5 Railroad St, Rumford, ME Lovers Ln & Loomis Pkwy , Ravenna, OH
U.S. Department of Veteran Affairs Portfolio
Asset ClassOffice
Deal Size$38.34 M
Cap Rate: 7.38%Weighted Average Lease Term: 12.6 YearsNet Operating Income: $2.83 MillionAccess Data Room
overview of deal

Overview

Opportunity to acquire a four-property, 79,811 SF portfolio fully leased to the U.S. Department of Veterans Affairs across Tennessee, Kentucky, Maine, and Ohio. The portfolio features newly built and under construction VA outpatient clinics, each supporting essential healthcare delivery for veterans in their respective regions. After the PACT Act passed in 2022, an additional 3.5 million post 9/11 veterans are eligible for VA healthcare, which has since resulted in 1.2 million new enrollees nationwide. These facilities have been designed and are being implemented as a response to the rapid growing need for essential veterans’ services nationwide. Historically, the VA has an exceptionally strong track record as a federal tenant, with one of the highest lease renewal rates in the market. Because its facilities are specialized and mission critical, the VA typically remains in place for decades, as relocation would be costly, disruptive, and counter to its mandate of providing consistent local access to care. All leases are guaranteed by the United States of America (Aaa credit rating), offering secure, long-term tenancy.

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Investment Highlights

  • Millington, TN – The 37,500 SF Millington VA Outpatient Clinic is set to become the largest in the state of Tennessee and is expected to be completed in Q1 2026.
  • Prestonsburg, KY – Construction for the 16,800 SF Prestonsburg VA Clinic is expected to be completed in Q1 2026.
  • Rumford, ME – The 9,756 SF Rumford VA Outpatient Clinic opened in 2023.
  • Ravenna, OH – The 15,755 SF Ravenna VA Outpatient Clinic is expected to be completed in Q3 2026.
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4963 W Union RdMillington, TN 38053

Sales Team

Bert SandersBOR TN

License #: 286198

Si PitstickBOR KY/OH

License #: 40608/BRKP.2007000971

Andrew DuffyBOR ME

License #: 927113

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Listing provided by Revere CRE