U.S. FEDERAL GOVERNMENT CREDIT
Portfolio of three VA Outpatient Clinics (also available individually); first-generation, long-term leases with the U.S. Federal Government, guaranteed by the full faith and credit of the United States of America, featuring exceptional credit quality and unrivaled income security

NEW CONSTRUCTION
New construction facilities, built-to-suit and redeveloped-to-suit for the U.S. Department of Veterans Affairs, with completions in 2025 and 2022, expanding and relocating existing VA services in each market; modern, state-of-the-art VA Outpatient Clinics delivering coordinated patient care services via the VA’s Patient Aligned Care Team (PACT) model

SIGNIFICANT TENANT INVESTMENT
Tenant-funded improvements ranging from $211 to $378 per foot at each location (total portfolio tenant TI funding of $12.58 million), demonstrating the significant investment in these facilities by VA and creating an attractive asset basis that is below current and future replacement costs

ESSENTIAL VA HEALTHCARE SERVICES
The VA Outpatient Clinics in Sebring, Benton Harbor, and Owensboro provide essential healthcare to a combined 13,000+ local and regional Veterans annually, with services including Primary Care, Pharmacy, Laboratory and Pathology, Dermatology, Addiction and Substance Use Care, Mental Health Care, Nutrition and Dietary Care, PTSD Care, Social Work, Toxic Exposure Screening, Telehealth, and more; healthcare provided through VA Outpatient facilities remained uninterrupted during the Covid pandemic and during all government shutdowns, and are highly-utilized facilities without impact from remote work