North Charlotte Medical Center

Denver, NC

Acquired June 2022

At a Glance

The asset was purpose-built for, and is 100% leased to, Novant (Moody’s Aa3), one of the largest nonprofit health systems in the Southeastern US.

Investment Rationale

  • Denver, North Carolina is a rapidly growing affluent suburb located in the Charlotte MSA, adjacent to Lake Norman and roughly twenty-five miles north of downtown Charlotte.

  • Population within 5 miles of the Property has grown at an annual rate of 2.4% from 2010 to 2021 and is projected to grow 2.3% from 2021 to 2026.

  • The asset’s area boasts strong incomes, high home values and well ranked schools. The area’s public high school is ranked A by Median home values within 5-miles are $351K, which is 38% higher than values for the Charlotte MSA and 33% higher than the US.

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