McLaren Health Care Credit Rating & NNN Cap Rate Analysis

McLaren Health Care Business Overview

McLaren Health Care is a nonprofit health system based in Grand Blanc, Michigan. It describes itself as a $6.9 billion integrated system with 12 hospitals in Michigan, ambulatory surgery and imaging centers, an employed physician network, health plans, and home health, infusion and hospice services, with service coverage extending into Indiana and Ohio.

McLaren Health Care Credit Profile

In our ratings database, McLaren Health Care Corporation is rated AA- (Stable) by Fitch (Moody’s: no verified rating); we have not identified a current S&P rating. The rating applies to a lease only when the rated McLaren entity signs or guarantees it, so confirm whether the tenant is the system, a hospital subsidiary, a physician group or a joint venture.

Ratings come from our tenant ratings database, which records the agency source and date for each rating. A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.

Source: Fitch Ratings AA-, Stable, as of February 27, 2026. Ratings checked October 8, 2026.

McLaren Health Care NNN Cap Rates

Live asking cap rates for McLaren Health Care and comparable tenants:

Active listings InvestmentGrade.com tracks with an asking cap rate (stated in the listing, or computed from its stated income and price when no rate is stated), listings last observed October 12, 2026. Asking cap rates are not closed-sale cap rates. The middle half is the range from the 25th to the 75th percentile of listings. The 10-year Treasury yield is 5.24% as of October 1, 2026 (FRED series DGS10). Ratings are the agency ratings in our ratings database for the entity shown, which may be a parent company; the rating type (for example issuer, senior unsecured debt, long-term debt or revenue bond ratings) varies by company and is shown on each tenant page. A rating applies to a lease only if the rated entity signs or guarantees it, so confirm the tenant and any guarantor in the lease. n/a means no verified rating is on file. Not shown because fewer than 3 active listings with a published cap rate were observed: McLaren Health Care, Oak Street Health.

Our listing data often has too few properties leased to McLaren to show a reliable median. The table shows healthcare tenants with enough listings. Compare an offering with recent sales leased to rated health systems with similar terms.

What to Check in a McLaren Health Care Lease

• Obligor: whether the lease is signed by the rated system, a hospital subsidiary, an affiliated physician group or a joint venture, and whether the rated parent guarantees it.
• Term and rent: remaining term, renewal options and the rent schedule; rent increases vary by lease.
• Site role: whether the building is on or near a hospital campus and how central it is to the system’s local network; systems can close, consolidate or relocate individual sites.
• Lease type: net, modified gross or full service; who pays for the roof, structure and building systems.
• Re-use: how much of the medical build-out another provider could use.

Pros and Cons

Sources: McLaren Health Care “About McLaren Health Care” page (mclaren.org), accessed October 2026; IRS Exempt Organizations Business Master File (McLaren Health Care Corporation, section 501(c)(3)); ratings from InvestmentGrade.com’s ratings database.