KinderCare Education signs amended master lease covering 545 center sites with KCP RE
KLC•Amended lease resets terms for childcare center portfolio
KinderCare Education, a wholly owned unit, reset terms on its master lease covering 545 childcare centers via an amended fifth amendment.
- Thirteen centers shifted to landlord affiliate KCP RE II under a new master lease running through Dec. 31, 2029.
- Remaining centers split into five schedules with staggered expiries from Dec. 31, 2033 to Dec. 31, 2042.
- Rent escalations reset to the lesser of 12.5% or the applicable index increase on scheduled adjustment dates starting Aug. 1, 2030.
- Two schedules include a single five-year extension option exercisable only for all sites in that schedule.
