Fresenius Kidney Care
Leases are usually guaranteed by investment-grade Fresenius Medical Care (S&P BBB-), the world's largest dialysis provider, which has been closing underused clinics to protect margins. Dialysis clinics rarely move once operating, but check for corporate vs. subsidiary guaranty.
- US units
- 2,600
- 2025 (approx.)
- 3Y net growth
- −1.9%
- vs. 2022 (approx.)
- Credit rating
- BBB-
- Investment grade
- Typical term
- 10-15 yr
- NN (roof & structure landlord)
- Model
- Corporate
- Subsidiary of Fresenius Medical Care
Unit count
Fresenius Kidney Care in the news
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Fresenius Kidney Care net lease FAQ
What is Fresenius Kidney Care's credit rating?
Fresenius Kidney Care is rated BBB-, which is investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Fresenius Kidney Care locations are there in the US?
Fresenius Kidney Care reported about 2,600 US locations as of 2025 (approx.). That is −1.9% versus 2,650 in 2022 (approx.).
What does a typical Fresenius Kidney Care net lease look like?
Lease type: NN (roof & structure landlord). Initial term: 10-15 yr. Rent increases: ~10% every 5 yr or ~2% annually. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Fresenius Kidney Care corporate or franchised?
Operating model: Corporate. Fresenius Kidney Care is part of Fresenius Medical Care AG. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.