PAIN TREATMENT CENTERS OF AMERICA

Recession-resistant asset class: The non-discretionary nature of medical care and its resilience during economic uncertainty has made healthcare real estate a strategic focus for both institutional and private investors nationwide.
Long-term absolute NNN lease: There are over ten years remaining on a 13-year lease, which began in 2022, demonstrating the tenant’s long-term commitment to the location. The lease also features a completely passive net lease structure that is rare to find in healthcare real estate investments.
Inflation-protected cash flow: The lease features 2.5% annual rent increases, offering investors built-in income growth and a great hedge against inflation.
New construction build-to-suit: Delivered in 2022, the property was specifically designed for PTCOA’s operations. Combining both the ASC and clinic allows PTCOA to deliver care in one integrated location.
Licensed ambulatory surgery center (ASC) with high tenant retention: ASCs are highly desired due to limited supply and costly buildouts. Extensive buildouts can make relocations highly impractical, and many times cost prohibitive.
CMS-certified facility: Certification by the Centers for Medicare & Medicaid Services allows the center to treat a broad patient population, including Medicare and Medicaid recipients, enhancing revenue potential. Achieving CMS certification requires compliance with strict federal standards, making it an accreditation that many surgery centers do not pursue.
Close proximity to major hospital: The facility is 1.6 miles from Christus St. Michael Hospital, a 311-bed facility, providing a strong potential referral base and added strategic value for the tenant’s clinical operations.
Tax-free/top destination state: Texas is one of nine states with no personal income tax, offering potential tax advantages for investors. According to U.S. Census data, Texas led the nation in net domestic migration in 2024.
Established regional market leader: PTCOA operates 16 locations across three states, making it the largest fully integrated pain management provider in the region and a highly experienced tenant.
Affluent surrounding demographics: Texarkana is a high-income area with average household incomes exceeding $96,000 within a one-mile radius, supporting strong payer mix and long-term demand for healthcare services.
Experienced onsite physician: Dr. Mohammed Khanzada, the practicing physician at this location, was personally trained by PTCOA co-founder Dr. Meraj Siddiqui. With over 180 Google reviews and a 4.6/5 rating, Dr. Khanzada brings strong patient trust and clinical continuity to the site, supporting long-term operational stability.
Personal guaranty from co-founder: The lease is backed by a personal guaranty from PTCOA co-founder Meraj Siddiqui, M.D., providing added credit support and security for ownership. Ask broker for more information on guaranty financial support.
Expanding pain management market: The U.S. pain management market is projected to grow from $27.9B in 2024 to $38.5B by 2033 (CAGR 3.7%), supporting long-term demand for PTCOA’s services and investor confidence in the asset class.

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Patrick Graham