Medical Portfolio Muitiple Long Is Ny, NY

This six-property medical office portfolio is located in Long Island, New York. The portfolio offers investors the opportunity to acquire medical assets anchored by RadNet, a publicly traded company founded in 1984. The properties are geographically diversified throughout Nassau and Suffolk Counties. The portfolio consists of four single-tenant medical properties triple-net leased to Mid Rockland Imaging Partners, and two multitenant properties majority leased to Mid Rockland Imaging Partners, with the balance occupied by other medical professionals. Mid Rockland Imaging Partners is a subsidiary of RadNet, a national radiology provider with 332 imaging centers across the United States. RadNet is the largest national provider of medical imaging and radiology services in the country and has more than $1.1 billion in annual revenue. Nassau and Suffolk Counties occupy the eastern portion of Long Island in New York and have a combined population of 2.8 million people. Healthcare is the largest employment sector in both counties, with major employers including Northwell Health, Catholic Health Services, and Winthrop University Hospital. The combined square footage of the properties is over 65,000, with five of six locations 100% occupied. All leases for all tenants have at least 3% annual increases. All Mid Rockland Imaging Partners leases have more than seven years remaining. Long Island demographics show a wealthy and aging population, increasing the demand for medical imaging services.