Piedmont Healthcare Credit Rating & NNN Cap Rate Analysis

Piedmont Healthcare Business Overview

Piedmont Healthcare is a nonprofit health system based in Atlanta. It says it operates 28 hospitals, 122 immediate care locations and about 2,000 physical locations, cares for more than 4.5 million patients, and serves communities that make up 85% of Georgia’s population.

Piedmont has added hospitals across Georgia through mergers. Columbus Regional Health joined Piedmont on March 1, 2018, according to Piedmont’s history.

Piedmont Healthcare Credit Profile

Piedmont Healthcare, Inc. is rated AA- in our database, which classifies it as investment grade. The rating applies to a lease only when the rated Piedmont 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 source for each rating. A rating at or above BBB‑/Baa3 is investment grade; see the investment grade guide.

Source: S&P Global Ratings AA-, as of March 15, 2024. Ratings checked October 8, 2026.

Piedmont Healthcare NNN Cap Rates

Live asking cap rates for Piedmont Healthcare 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: Piedmont Healthcare, Oak Street Health.

Our listing data often has too few properties leased to Piedmont 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 Piedmont Healthcare 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: Piedmont Healthcare “About Piedmont” page and history (piedmont.org), accessed October 2026; ratings from InvestmentGrade.com’s ratings database.