medical office portfolio | 2 buildings 100% occupied by ... · class “a” medical office...

M E D I C A L O F F I C E P O RT F O L I O | 2 B U I L D I N G S

1 0 0 % O C C U P I E D B Y A L A M A N C E R E G I O N A L | A S U B S I D I A RY O F C O N E H E A LT H

A D J A C E N T T O C O N E H E A LT H A L A M A N C E R E G I O N A L M E D I C A L C A M P U S

B U R L I N G T O N | N O R T H C A R O L I N A

EXCLUSIVELY LISTED BY

Investment Overview 03 Executive Summary

04 Investment Highlights

Tenant Overview 08 Alamance Regional Medical Center

09 Cone Health (Parent Company)

10 Westside OB-GYN

Financial Overview 05 Rent Roll

06 Cash Flow Analysis / Operating Expenses

07 Lease Abstracts

Beau McIntosh, CCIM

Investment Sales

Vice President, Furman Capital Advisors

[email protected]

336 312 1835

Locat ion Overview

11 State Map

12 Regional Map

13 Area Map

14 Alamance Regional Proximity Bob Lewis, CCIM SIOR

Broker, NAI Piedmont Triad

[email protected]

336 214 1799

TABLE OF CONTENTS

Photography 16 Kirkpatrick Medical Center

17 Westside OB-GYN

Peter Couchell, CCIM

Shareholder/Broker

Managing Director, Furman Capital Advisors

[email protected]

864 678 5923

Howard Hawks, CCIM

Broker, NAI Piedmont Triad

[email protected]

336 516 2458

Market Overview 18 Market Analysis

Demographic Overview 19 Medical Expenditures - 3 Mile Radius

CONFIDENTIAL OFFERING MEMORADUM

Rob SchmidtBroker

Vice President, Furman Capital Advisors

[email protected]

864 678 5995

3 . 1041 & 1091 Kirkpatr ick Road | Bur l ington, NC

EXECUTIVE SUMMARY

Furman Capital Advisors and NAI Piedmont Triad are pleased to offer the opportunity

to purchase 1041 and 1091 Kirkpatrick Rd., Burlington, NC, a Class “A” medical

office portfolio consisting of two (2) buildings built in 1995 and strategically

located in the high growth, vibrant Greensboro, High Point, Winston-Salem MSA

(1,677,511 population). Totaling ±33,100 RSF, the buildings are 100% occupied

and located next to Cone Health Alamance Regional Medical Center Campus in

Burlington, NC. Alamance Regional Health Center, Inc, a subsidiary of Cone

Health Master Leases 100% of the building for all tenants at 1041 Kirkpatrick

Rd (23,500 SF) with ±7.5 years of lease term remaining, and Westside OB-

GYN also a subsidiary of Cone Health occupies 100% of 1091 Kirkpatrick Rd

(9,600 SF) with ±5 years of lease term remaining. Both leases have scheduled

2.25% and 2.50% annual rent increases respectively offering investors an ideal

combination of stable cash flow and staggered lease expirations.

RENT ROLL AT A GLANCE

Address RSF Tenant Lease GuarantorRemaining Lease Term

1041 Kirkpatrick Rd. ±23,500Cone Health d/b/a Alamance Regional Medical Center

Alamance Regional Medical Center, Inc.

±7.8 Years

1091 Kirkpatrick Rd. ±9,600Cone Health d/b/a Westside OB-GYN Center, P.A.

Moses Cone AffiliatedPhysicans, Inc.

±5.0 Years

TOTAL ±33,100

PHOTO

Asking Price $9,600,000

Cap Rate - Year 1 6.20%

NOI - Year 1 $595,339

Cap Rate - Year 5 6.81%

NOI - Year 5 $653,559

Cap Rate - Year 10 (Projected) 7.66%

NOI - Year 10 (Projected) $735,580

Annual Rent Bumps 2.25% / 2.50%

Lease Term (Weighted Average) ±7.00 years

THE OFFERING

(As of 1/1/2020)

INVESTMENT OVERVIEWExecut ive Summary


INVESTMENT OVERVIEW1041 & 1091 Kirkpatr ick Rd. - Bur l ington, NC

• 100% occupied by Alamance Regional, a subsidiary of Cone Health (S&P: AA-)

• Weighted average lease term of ±7.00 years as of 1/1/2020

• New HVAC system and completely resurfaced parking lot at 1041 Kirkpatrick

• Attractive rent increases of 2.25% & 2.50% annually

• Rent roll provides stable in-place cash flow and annual rent growth to hedge inflation

• Located in the Greensboro, High Point, Winston-Salem MSA with a population of 1,677,511

• Directly adjacent to the Cone Health Alamance Regional Medical Center Campus

• Prime visibility at the intersection of Kirkpatrick Rd and Grand Oaks Blvd

• Direct access to I-85 / I-40 (0.5 miles) and easy access to the greater market via I-840

• Central location along the commerce-rich I-85 corridor between Atlanta, GA and Raleigh Durham, NC

• The Triad continually ranks among the highest levels of foreign capital investment per capita in the US

• Proximity to 7 major public and private universities including Duke, NC State, University of North Carolina,

and Wake Forest.

• Located within 30 minutes from two international airports: Raleigh-Durham International and Piedmont Triad

International

I N V E S T M E N T H I G H L I G H T S


FINANCIAL OVERVIEWRent Rol l

Tenant Name Square Footage Annual Base Rent / SF Scheduled Rent Reimbursement Structure Remaining Option(s)

Address Prorata Share Annual Base Rent Increases CAM Caps

Lease Dates Monthly Base Rent

Alamance Regional 23,500 $16.79 2.25% Annually NNN (1) 10 Year

1041 Kirkpartrick Rd., Burlington, NC 2 71.00% $394,588 N/A

11/1/2017 ‐ 10/31/2027 $32,882.33

Westside OB‐GYN 9,600 $25.87 2.5% Annually MG (2) 10 Year

1091 Kirkpatrick Rd., Burlington, NC 29.00% $254,567 N/A

1/1/2015 ‐ 12/31/2024 $21,213.90

33,099

RENT ROLL


FINANCIAL OVERVIEWC a s h F l o w A n a l y s i s / O p e r a t i n g E x p e n s e s

SIZE (SF) 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10

Alamance Regional 23,500 $394,588 $403,466 $412,544 $421,826 $431,318 $441,022 $450,945 $461,091 $471,466 $482,074

Westside OB‐GYN 9,599 $254,567 $260,931 $267,454 $274,141 $280,994 $288,019 $295,220 $302,600 $310,165 $317,919

OpEx Reimbursements $45,635 $45,705 $46,619 $47,552 $48,503 $49,473 $50,462 $51,472 $52,501 $53,551

Scheduled Gross Income $694,790 $710,102 $726,618 $743,519 $760,814 $778,514 $796,627 $815,163 $834,132 $853,544

Current Vacancy 0.00%

Effective Gross Income $694,790 $710,102 $726,618 $743,519 $760,814 $778,514 $796,627 $815,163 $834,132 $853,544

$/SF YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10

Taxes $1.89 $62,665 $63,918 $65,197 $66,501 $67,831 $69,187 $70,571 $71,982 $73,422 $74,890

Insurance $0.13 $4,272 $4,357 $4,445 $4,533 $4,624 $4,717 $4,811 $4,907 $5,005 $5,105

Landscaping Westside OB‐GYN $0.14 $4,764 $4,859 $4,956 $5,056 $5,157 $5,260 $5,365 $5,472 $5,582 $5,693

Management Fee 3.00% $19,475 $19,932 $20,400 $20,879 $21,369 $21,871 $22,385 $22,911 $23,449 $24,000

Reserve Allowance $0.25 $8,275 $8,275 $8,275 $8,275 $8,275 $8,275 $8,275 $8,275 $8,275 $8,275

Total Operating Expenses $3.00 $99,450 $101,342 $103,272 $105,243 $107,256 $109,310 $111,407 $113,547 $115,733 $117,964

Net Operating Income $595,339 $608,761 $623,345 $638,275 $653,559 $669,204 $685,220 $701,616 $718,399 $735,580

Cap Rate 6.20%

Purchase Price $9,600,000

Equity Contribution $2,880,000

Loan Amount $6,720,000

PROPOSED DEBT OVERVIEW*LTV 70% Amortization (Years) 25

Interest Rate 4.25% Loan Term (Years) 10

*Property will be delivered free and clear of debt

10 YEAR CASH FLOW ANALYSISYEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10

Annual Debt Service (436,858)$ (436,858)$ (436,858)$ (436,858)$ (436,858)$ (436,858)$ (436,858)$ (436,858)$ (436,858)$ (436,858)$

Annual Cash Flow 158,482$ 171,903$ 186,488$ 201,418$ 216,701$ 232,347$ 248,363$ 264,758$ 281,542$ 298,723$

Annual Cash on Cash Return 5.50% 5.97% 6.48% 6.99% 7.52% 8.07% 8.62% 9.19% 9.78% 10.37%

Annual Equity Build‐up 154,239$ 160,923$ 167,897$ 175,174$ 182,765$ 190,686$ 198,950$ 207,572$ 216,568$ 225,953$

EOY Principal Balance (6,565,761)$ (6,404,838)$ (6,236,940)$ (6,061,766)$ (5,879,001)$ (5,688,315)$ (5,489,365)$ (5,281,793)$ (5,065,225)$ (4,839,272)$

Annual Equity Return on Equity Build‐up 5.36% 5.59% 5.83% 6.08% 6.35% 6.62% 6.91% 7.21% 7.52% 7.85%

Total Annual Return 10.86% 11.56% 12.31% 13.08% 13.87% 14.69% 15.53% 16.40% 17.30% 18.22%

OPERATING INCOME

OPERATING EXPENSES


FINANCIAL OVERVIEWL e a s e A b s t r a c t s

www.furmancapital.com 348 N. Elm St.

Greensboro, North Carolina 27401

Triple C Investments LLC – Kirkpatrick Medical LEASE ABSTRACT

Tenant Alamance Regional Health Center, Inc. (Master Lease) Guarantor Corporate – Alamance Regional Health Center, Inc. Premises 1041 Kirkpatrick Rd., Burlington, NC 27215

SquareFootage 23,500 RSF (Amended 3/1/2019) Term 10 years (11/01/2017 to 10/31/2027)

Rent(Annually) Year 1 $ 356,800.00 Year 2 $ 377,915.96 Year 3 $ 393,110.35 Year 4 $ 401,955.33 Year 5 $ 410,999.33 Year 6 $ 420,246.81 Year 7 $ 429,702.37 Year 8 $ 439,370.67 Year 9 $ 449;256.51 Year 10 $ 459,364.78

SecurityDeposit Forty Thousand Dollars ($40,000) Options One (1) x 10 years

HVACRepair Landlord responsibility for total replacement only CAM Tenant Responsibility Taxes Tenant Reimburses Landlord

Insurance Tenant Reimburses Landlord TerminationRight No

www.furmancapital.com 348 N. Elm St.

Greensboro, North Carolina 27401

Triple C Investments LLC – Westside OB/GYN Center LEASE ABSTRACT

Tenant Westend OB-GYN Center P.A. Guarantor Corporate – Moses Cone Affiliated Physicians, Inc. Premises 1901 Kirkpatrick Rd., Burlington, NC

SquareFootage 9,600 RSF Term 10 years (12/14/2014 to 12/3/2024)

Rent(Annually) Year 1 $ 225,000.00 Year 2 $ 230,625.00 Year 3 $ 236,390.63 Year 4 $ 242,300.39 Year 5 $ 248,357.90 Year 6 $ 254,566.85 Year 7 $ 260,931.02 Year 8 $ 267,454.29 Year 9 $ 274,140.65 Year 10 $ 280,994.17

SecurityDeposit N/A Options Two (2) x 10 years

HVACRepair Landlord responsibility for total replacement only CAM Landlord provides landscaping Taxes Landlord Responsibility

Insurance Landlord Responsibility TerminationRight No

Tripe C Investments LLC - Kirkpatrick Medical Tripe C Investments LLC - Westside OB/GYN Center

(11/1/19 - 10/31/20)

(1/1/2020 - 12/31/2020)

(1/1/15-12/31/2024)


Alamance Regional Medical Center, a part of the Cone Health network, is a not-for-profit community

healthcare organization. We are committed to improving the health of the citizens of Alamance

County and its surrounding communities through the provision of a continuum of high quality clinical,

educational, preventive-wellness, and support services in a safe and friendly environment.

We strive to provide excellent healthcare in a cost-effective manner that represents value to our

patients, physicians, payors, and the community. We aspire to provide a work environment and the

necessary resources that promote respect among staff and to encourage all staff members to achieve

their full potential.

ALAMANCE REGIONAL MEDICAL CENTER

TENANT OVERVIEW (Bui lding - 1041 Kirkpatr ick Rd.)

Alamance Regional Medical Center (Lease Guarantee - Subsid iary of Cone Heal th)


Cone Health is an integrated not-for-profit network of health care providers serving people in

Guilford, Forsyth, Rockingham, Alamance, Randolph, Caswell and surrounding counties. Our

tagline – “The Network for Exceptional Care” – highlights our commitment to excellence, which is

shared by our more than 12,000 employees, 1,300 physicians and 1,200 volunteers.

Business North Carolina magazine puts Cone Health at the top of its North Carolina’s Best

Hospitals list. The ranking identifies organizations that, in its words, “… are most successful at

their fundamental goal: providing quality care for patients.”

CONE HEALTH

TENANT OVERVIEW Cone Heal th (Parent company of A lamance Regional Medical Center )

1 0 . 1041 & 1091 Kirkpatr ick Road | Bur l ington, NC

Westside Ob-Gyn, a member of Cone Health Medical Group, offers an array of extended obstetrical and gynecological services including adult and adolescent gynecology, routine and high-risk obstetrics, minimally invasive surgical procedures, infertility counseling and treatment.

Our Women’s Center, located near Elon, N.C., provides primary care, obstetric, gynecological and mid-level care in one office – for women, by women. This unique healthcare model offers comprehensive care by an all-female staff, including doctors, and is backed by the expertise and experience of Westside Ob-Gyn.

With three locations across Alamance County, Westside Ob-Gyn and its affiliates care for a large percentage of our county’s women. We’ve been in the area since 1979 and have built long-term friendships with many of our patients. Our patients and our community are the heart of what we love about our jobs.

WESTSIDE OB-GYN

TENANT OVERVIEW (Bui lding - 1091 Kirkpatr ick Rd.)

Wests ide OB-GYN


LOCATION OVERVIEWState Map

SITE


LOCATION OVERVIEWRegional Map

SITE

Greensboro

18 MilesFrom Site

Charlotte

Winston-Salem

45 MilesFrom Site

109 MilesFrom Site

Raleigh

60 MilesFrom Site


LOCATION OVERVIEWArea Map

TO RALEIGH

TO GREENSBORO

SITE


LOCATION OVERVIEWAlamance Regional Prox imity

1091 KIRKPATRICK RD.WESTSIDE OB-GYN

1041 KIRKPATRICK RD.KIRKPATRICK MEDICAL CENTERALAMANCE REGIONAL HEALTH


PHOTOGRAPHYKirkpatr ick Medical Center

Covered Parking Area


PHOTOGRAPHYWests ide OB-GYN


ALAMANCE COUNTY OVERVIEW

The Property is situated within Alamance County located in north central North Carolina. The county seat is Graham, the second largest city, and the county accounts for 435 square miles. The county has deep historical roots within the textile manufacturing and agriculture industries, and is also home to many historic Civil War sites.

02 Market Overview

Alamance County Major Employers

Organization Employees

Alamance-Burlington School System 3,500

LabCorp of America 3,000

Cone Health Alamance Regional 2,000

Elon University 1,500

City of Burlington 1,100

Wal-Mart Stores Inc. 1,000

Alamance County 950

GKN Driveline North America 800

Alamance Community College 650

Honda Power Equipment 600 15

138,281

151,241

159,688

2005 2010 2016

+9.4% Growth

+5.2% Growth

1,335

2,115

2,385

3,477

10,532

10,815

14,812

51,703

Swepsonville

Green Level

Haw River

Gibsonville

Elton

Mebane

Graham

Burlington

2 Major

Interstates

2 State Ports

1 Freight & Passenger Railroad

2 International

Railroads (<1 hour)

1 Local

Airport

Source: Alamance Chamber

Population Growth

Population by City

I. LOCATION OVERVIEW CONTINUED

Elon

MARKET OVERVIEWMarket Analys is

Population Median HH Income

Population65+

HealthcareSpending

HealthInsurance

30,522 56,144 21.5% $72,452,165 $47,647,040

Elon

290,222

244,605

51,703

14,812

Greensboro

Winston-Salem

Burlington

Graham

Elon

Gibsonville

Haw River

3,477

10,532

2,384


MARKET OVERVIEWMarket Analys is

Several major public and private universities are within easy driving distance including Duke University, NC A&T, NC State University, North Carolina Central University, the University of North Carolina at Chapel Hill, UNC-Greensboro, and Wake Forest University.

Located within 30 minutes from two international airports:

- Raleigh Durham International (RDU): 400 flights/day, 47 daily nonstop destinations

- Piedmont Triad International (PTI): 80 flights/day

CITY OF GRAHAM OVERVIEW

The City of Graham is located near the center of the State of North Carolina, along the I-40/85 corridor, midway between the Triad and Triangle regions. This location has contributed to steady growth for several decades, changing the land around the city from rural to suburban and urban.

Graham is the county seat of Alamance County and has approximately 14,500 residents. It shares borders with the City of Burlington and the Town of Haw River.

02 Market Overview

16

I. LOCATION OVERVIEW CONTINUED

Demographics Distance from Property 1 miles 3 miles 5 miles

Population 2018 4,571 31,208 72,165 2023 Projected 4,815 32,561 75,245 Growth 2018-2023 5.34% 4.34% 4.27% Households 2018 1,877 12,338 28,802 2023 Projected 1,981 12,886 30,065 Growth 2018-2023 5.54% 4.44% 4.39% Average Household Income 2018 $50,026 $50,053 $50,921

Source: CoStar

Elon University

Children’s Museum of Alamance

Burlington Downtown

ALAMANCE COUNTY OVERVIEW CONTINUED

Only 25 minutes from both the Triad and Triangle regions, Burlington offers affordable, quality living with direct access to many of the nation’s finest universities, nationally ranked healthcare facilities, and internationally known employers, ranging from high-tech fields to transportation and logistics. Take a stroll downtown and you will also find the headquarters of the nation’s largest laboratory services company, Laboratory Corporation of America (Labcorp). Burlington is home to the famous Sunbrella brand fabrics manufactured by Burlington-based Glen Raven, Inc.

CITY OF BURLINGTON OVERVIEW

Distance From Property1 Mile 3 Miles 5 Miles

Population

2018 3,950 32,427 76,763

2023 Projected 4,300 34,509 80,908

Growth 2018-2023 1.71% 1.25% 1.06%

2018 Median Age 40.5 40.8 38.5

2018 Total Daytime Population 8,595 42,347 84,938

Households

2018 1,867 13,510 30,754

2023 Projected 2,033 14,397 32,456

Average Household Income

2018 $78,090 $79,787 $67,177

2023 Projected $86,982 $88,186 $75,364


��!,7BLwal��!,��w ,�"�B��,7"w#!$w%��L,�&�'�$w('��)w*B�'L,�B$w+-+�. /��B��!w01wa��,#,�&2w3w4,L�w�B!,�� 5B�,��!�2w368�6�935'�&,��!�2w:-�89�6+3;<=>?@ACDEFwGH==A@I JKMN JKJO/'��LB�,'� 3�$.++ 3+$9�.P'��)'L!� �3$��Q �3$Q66RB4,L,�� -$69+ Q$��!,B�wP'��)'L!wS�7'4� T.6$�99 T6�$3-��BL��w��w��wR�4BL�� Q-8� Q-8�U>CHVAWE>XwYIwZ?</'��LB�,'�w[.w\�B�� ]_ ]_/'��LB�,'�w6.bw\�B�� cde ccf��!,B�wg&� 9�8- 9�8�GC<XhEX?wU>W<XWEAVwwwwwwwwwwwZi<@A?<wZ=>HXWwwwwwwwwwwjXh<k GC<XW m>WAVn<AVWDwoA@< �- T.$.6.8.9 T-+$9.+$�6.p<hEFAVwoA@< �Q T�$��.89. T+9$Q�.$�+./)1�,7,B�wq��r,7�� 6 T+9�8Q9 T3$�9Q$3�.s��BLwq��r,7�� - T36�8�� T9$6�Q$33�a1�7B��wq��r,7�� Q T6�8�� T-Q3$.9-5B0wt��$wu:#B1� �6 T.-89� T-9-$9��P'��,�BLw#''4wB�!wP'��,�BLwq��r,7�� 6 T�698+- T+$�3Q$.�+*'�rBL��7��w'�w(��,�&wP'4�w*B�� 6 T338-- T93�$63�v�)��w��!,7BLw��r,7��w�� T��98�3 T�$9�6$��+('��7�,��,'�ws��&� �� T�3�89� T�$-��$.�9/��7�,��,'�ws��&� �� T3..8�Q T9$639$��9('��7�,��,'�w�,�B4,�� - T6Q8�. TQ�-$6��!,7B��w/��7�,��,'�ws��&w/��4,�4 �� T�+�8�Q T�$6�+$�3.a1�&LB��wB�!w*'��B7�w5�� - T��8+� T�$�-9$3+�P�B�,�&wg,!� ��. T3�8�- T3��$9.+��!,7BLwa��,�4��w�'�w��BLw�� + T68�9 T-Q$6-9v�)��w��!,7BLwq��L,��a��,�4��w�+� �Q T.�8.� T--9$.�Qn<AVWDwjX�H@AXF< �- T3$66�8�� T9-$69-$�9�%L��w*�'��%L��wq),�L! �6 T�$+�68�3 T�.$Q9�$��9R��w�'�wq��r,7�wP�BL�)w/LB� �- T-�.8�� T�$3��$�9+P�v �. T-638�+ T�$�39$+-��!,7B��w/B14�� T6�.89+ TQ$��$9�.5'�&wt��4w*B��wS��B�7� ��9 T��8Q9 T�$9+�$��v�)��wP�BL�)wS��B�7�w�3� �Q T+3�86� T3$�+�$3+�;AWAw >W<�wt)�wq��!,�&w/'��,BLwS�!�lw�q/S�w,�w)'��)'L!:0B��!$wB�!w��w�)�wB4'��w��w�'�wBw��'!�7�w'�w��r,7�w��LB�,r�w�'wBw�B�,'�BLwBr��B&�w'�w��8ws��B,Lw4B1w�'�w��4w�'w�'�BL�w!��w�'w�'��!,�&8�M�w�WD<@wp<hEFAVwGHCCVE<�w,�7L�!��wq��r,7��w01w��!,7BLw/�'��,'�BL�w'�)��w�)B�w/)1�,7,B��$wv��B�,��wP'��,�BLw*B��$w%L''!ws'�B�,'�$wB�!wg40�LB�7�$ws,BL1�,�$wa4��&��71w#''4$wvl1&��w'�w#��7��wq��r,7��8w�J�w�WD<@wp<hEFAV��HEC=<XWw,�7L�!��wt'�,7BL�$ws��,�&�$wq��'��,r�wB�!w*'�rBL��7��w��!,7BLwa��,�4��$w#��BLw'�w��!,7BLwa��,�4��w�'�w��BLw��$wB�!w#��BLw'�wq��'��,r�wB�!w*'�rBL��7��w��!,7BLwa��,�4��8�O�w�WD<@wn<AVWDwjX�H@AXF<w,�7L�!��w��!,7B��wq��L�4��wB�!wv�)��wP�BL�)wS��B�7�w�l7L�!,�&w%L��w*�'��%L��wq),�L!8G>H@F<�wa��,w�'��7B��w�'�w+��QwB�!w+�+3�w*'��4��wq��!,�&w!B�BwB��w!��,r�!w��'4w�)�w+��.wB�!w+��6w*'��4��wal��!,��wq��r�1�$w%��B�w'�w5B0'�wq�B�,��,7�8��w�9$w+��+��wa��, /B&�w+w'�w3

DEMOGRAPHICS OVERVIEWMedical Expendi tures - 3 Mi le Radius


DISCLAIMER

This Offering Memorandum contains select information pertaining to the business and affairs of the property located at 1041 &

1091 Kirkpatrick Place, Burlington, NC (“Property”). It has been prepared by Furman Capital Advisors (“Agent”). This Offering

Memorandum may not be all-inclusive or contain all of the information a prospective purchaser may desire. The information

contained in the Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective purchaser

of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of

Owner or Agent. The material is based in part upon information supplied by the Owner and in part upon financial information

obtained from sources it deems reliable. The Owner, nor their officers, employees, or agents make any representation or

warranty, express or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no

legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should make their own projections

and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.

By acknowledging your receipt of this Offering Memorandum for the Property, you agree:

1. The Offering Memorandum and its contents are confidential;

2. You will hold it and treat it in the strictest of confidence; and

3. You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum

or its contents in any fashion or manner detrimental to the interest of the Owner.

Owner and Agent expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the

Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the

Property unless and until a written agreement for the purchase and sale of the Property has been fully executed by all parties and delivered.

If you wish not to pursue negotiations leading to the acquisition of the Property or in the future you discontinue such

negotiations, then you agree to purge all materials relating to the Property including this Offering Memorandum.

A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information

provided herein or in connection with the sale of the Property shall be limited to those expressly provided in an executed

Purchase Agreement and shall be subject to the terms thereof. In no event shall a prospective purchaser have any other claims

against Seller or Agent or any of their affiliates or any of their respective officers, Directors, shareholders, owners, employees, or

agents for any damages, liability, or cause of action relating to this solicitation process or the marketing or sale of the Property.

This Offering Memorandum shall not be deemed to represent the state of affairs of the Property or constitute an indication that there

has been no change in the state of affairs of the Property since the creation of this Offering Memorandum.

348 N Elm Street | Greensboro, NC 27401

336.373.0995 FurmanCapital.com

Bob Lewis, CCIM SIORBroker

[email protected]

Peter Couchell, CCIMShareholder/Broker

Managing Director

[email protected]

Beau McIntosh, CCIMInvestment Sales

Vice President

[email protected]

Howard Hawks, CCIMBroker

[email protected]

Investment Services Division of NAI Piedmont Triad

Rob SchmidtBroker

Vice President

[email protected]

medical office portfolio | 2 buildings 100% occupied by ... · class “a” medical office...

Documents