VA Complex








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Property Description: 

Capital Commercial Partners is pleased to bring to market a Generational Investment Opportunity on the Dwight D. Eisenhower Veterans Administration Campus located in Leavenworth, KS (Kansas City MSA). Its had an extensive $29M+ in historical renovations and sits on approximately 50 acres of land. The property houses the 66,000 square foot “Class A” Consolidated Patients Account Center (CPAC) administrative space. CPAC has 400 employees and was developed by the VA’s Chief Business Office to improve revenue collections within the Veterans Health Administration (VHA).

This is part of the VHA’s effort to seek reimbursement and retain collections from third party health insurers. The program has established proven results in enhanced cash collections, process integration, and standardization. The VA just renewed the existing lease early for 5 years from April 2021 through March 31, 2026. Another 5 year renewal is available for April 1, 2026 through March 31, 2031. The entire property is subject to a leasehold interest via 75 year Enhanced Use Lease (EUL) with the Secretary of Veterans Affairs expiring in 2080.

The fee simple interest reverts to the Landlord in the event the lease is not renewed or upon lease expiration. The property also has three affordable housing apartment complexes totaling 161 units (28 buildings) with preference for veterans. The location is ideal for veterans as the VA hospital is a short walk away. There are 8 remaining historic vacant buildings available for restoration and 18 acres ready for development. Eisenhower Ridge is on the National Historic Register and has won awards for its historic restorations.

Investment Highlights:

Veterans Affairs - (S&P AAA credit rating)
66,000 SF "Class A" Leased Office - Consolidated Patient Accounts Center (CPAC)
VA just renewed 5 year lease early from April 2021 - March 2026
$29M+ in completed historic renovations
3 on-site affordable housing apartment complexes (161 units) 117,867 SF
50 acre campus
Existing in-place non-recourse financing
Part of National Historic Register with 10 regional and national awards
Substantial entrepreneurial upside

Financial Summary:

All Cash

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