Le Terrazze Rehabilitation Clinic_Property for Sale

SP30, 11-3, 21035 Cunardo VA, Italy, Cunardo, 21035, IT

Le Terrazze Rehabilitation Clinic

Asset Description

Le Terrazze is a ~14,200 sqm inpatient clinic specializing in rehabilitation care and treatment, located in the province of Varese. The facility is comprised of four floors with 185 inpatient beds, an outpatient rehabilitation centre, and a specialized outpatient clinic for medical consultations and examinations. Le Terrazze was founded in 1990 as a care and treatment facility. Over the years, it has become a reference point for specialized rehabilitation, attracting patients from all over Italy and is now a national reference point for patients of all ages who seek to recover. Thanks to a significant expansion between 2008 and 2012, the facility has expanded its medical and healthcare services to include a comprehensive outpatient service, a rehabilitation outpatient clinic, an entire area dedicated to imaging diagnostics, and a laboratory for analysis.

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Attributes

Number of units

185

Building area net

152,848 sf

Occupancy

100%

Year built

1990

WAULT

17 years

Media

Investment Highlights

Very Favorable Lease Terms: Recently renegotiated lease with a more affordable rent for the tenant, and a WALB of ~17 years with no tenant termination rights.
Operator Performance: Le Terrazze has recognized a ~3% revenue CAGR in the last five years, and is expected to continue this steady growth as the demand for the services of the clinic is inelastic.
Dominant Market Presence: Through offering one of the most comprehensive set of services for treatment and rehabilitation, Le Terrazze faces minimal competition as indirect competitors focus either on outpatient services or the elderly.
Robust Healthcare Market Fundamentals: Investor interest towards the healthcare market is increasing in Italy, with clinics and medical buildings accounting for over 60% of 2023 investment volumes.