Fitness & Wellness

The increased priority on holistic wellness has become a driving force within the fitness and wellness industry.




Annualized Adjusted Revenue*



In recent years, consumers have begun to spend more time and money on their wellbeing. From relaxing spas to intense spin classes, the diverse offerings of boutique and larger fitness centers have caught the interest of many in our culture, driving an expansion of both fitness and more broadly, the wellness industry.

By allowing fitness club members to focus on their individual passions and goals in a community setting, operators gain loyalty and retention—essential elements in the ongoing success of a facility. Commercial fitness centers have stayed at the forefront of the industry by offering personalization within congregate settings. The recent emergence of boutique studios (smaller facilities that offer one specific workout or class) has ushered in an industry-wide change toward the individual.

Our tenants make it their goal to motivate, educate, and ultimately to help consumers look and feel better than ever before.

*Annualized Adjusted Revenue (a non-GAAP financial measure) is Total Revenue for the quarter ended September 30, 2019, excluding public charter school total revenue, other income and pass through revenues, further adjusted for in-service projects and percentage rent and participating interest. This number is then multiplied by four to get an annual amount. See reconciliation of Annualized Adjusted Revenue to Total Revenue on Slide 17 in the Charter School Transaction Presentation in the Investor Center.