Centria ABA Healthcare (5-Pack) Portfolio

Various locations

Description

JLL is pleased to exclusively offer the Centria Healthcare Portfolio (the "Portfolio" or "Properties") comprising five locations in Michigan (2), Georgia (2), and North Carolina. Totaling nearly 80,000 SF, the Portfolio consists of five recently opened locations that are subject to absolute NNN leases with 2.50% annual rent escalations and over 13 years of WALT. Centria Healthcare (“Centria" or "Tenant") is a leading ABA therapy & services provider with more than 120 locations throughout the nation. The business is backed by THL Partners, a global private-equity company with over 50 years of experience in the consumer services and healthcare segments.

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Attributes

Building area gross

7,366 m²

Occupancy

100%

Land area gross

4.09 ha

WAULT

13.4 years

Centria ABA Healthcare (5-Pack) Portfolio (5 Properties)

Media

Investment Highlights

LEADING ABA THERAPY PROVIDER WITH ATTRACTIVE CREDIT PROFILE

Centria is owned by THL (“Sponsor”), a prominent global private equity firm founded in 1974 that focuses on middle market growth companies across various sectors including healthcare, consumer, business solutions, technology and financial technology. The Sponsor has strengthened Centria’s positioning in the market and established its strategic plan to grow Centria’s footprint throughout the country, with de novo site expansion expected to result in 40+ new sites nationwide in the next two years. The business has consistently outperformed revenue and EBITDA projections, a testament to the operational efficiency within the platform. These properties are profit centers that are essential to Centria’s operational plan. Centria’s de novo sites ramp up extremely quick with each site cash flow breakeven in months 4-8, reaching full stabilization within 2 years.

IDEAL LONG-TERM ABSOLUTE NNN LEASES WITH ANNUAL RENT GROWTH & 10-YEAR OPTIONS

Long-term committed Tenant recently executed 14-year Absolute NNN leases (nolandlord responsibilities) at the sites with highly desirable 2.50% annual rent increases to ensure growing equity yield for investors with a passive lease structure. Additionally, the 1x 10-year extension options provide investors significant protection and upside on their residual value if electing to monetize during the option periods.

EXPOSURE TO RECESSION-RESISTENT HEALTHCARE SECTOR & HIGH GROWTH, UNDERSERVED AUTISM TREATMENT MARKET

This offering provides exposure to thedefensive, recession-resistant children’s healthcare industry with tenancy providing ABA-therapy services for apopulation that is currently underserved. Per the CDC, about 1 in36 children in theUS hasbeen identified with autism.

Despite thesignificant and growing population of children diagnosed with autism, there is anoverall lack of autism services in both rural and urban areas throughout the US,with 84% ofUS counties lacking autism diagnostic services, which presents significant opportunity forCentria to capitalize on underserved areas indesperate need of care.

In 2024, theautism disorder treatment market size wasvalued at $8.1B and estimated at $9.5B in2026. Themarket is projected to achieve immense growth to $13.1B by 2030, exhibiting a CAGR of 8.5% from 2023 to 2030. While minimal drugs therapies have proven effective, ABA therapy hasproven effective in improving the social and communication skills of autistic patients.