Meridian Sells Dialysis Clinic in Fairfield, Calif. for $5.15 Million, 5.5% Cap Rate

SAN RAMON, CALIF. – December 02, 2015 – (RealEstateRama) — Meridian, a full service real estate developer and owner of medical real estate, is pleased to announce that it has closed escrow on the sale of its 8,700-square-foot dialysis clinic in Fairfield, Calif. The purchase price was $5.15 million, representing a cap rate of 5.5%.

According to Meridian COO John Pollock, “Kidney failure, also known as end stage renal disease (ESRD), is a fatal condition unless a kidney transplant is available or a patient undergoes dialysis, in which a machine filters toxins and fluids from the blood outside the body. In-center dialysis patients are treated four hours a day, three times a week. There is a tremendous need to bring these types of services to where patients live.”

“Meridian will be closing out the year with more than 1.3 million square feet in development and acquisition. The properties are located in both northern and southern California,” Pollock says. “Meridian will continue to seek well-located suburban medical and general office value-add opportunities throughout California.”

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