COLUMBIA, S.C.—Healthcare real estate player Flagship Healthcare Properties, based in Charlotte, N.C., is expanding its holdings in its southern neighbor with the acquisition of a Class A medical office building and ambulatory surgery center in Columbia, South Carolina’s capital.

The 31,697-square-foot MOB, which was first constructed in 2007, is already pre-leased to healthcare providers such as Columbia Nephrology, a kidney specialty practice that has served the region since coming online in 1980.  Additional tenants will include Fresenius Medical Care and Fresenius Vascular Care, which offer dialysis services for patients experiencing renal failure as well as outpatient vascular access.

The MOB sits on the campus of the Park Central Medical Office Park and is also near to the Prisma Health Richland Hospital campus, which is the most advanced healthcare facility in South Carolina’s Midlands region.

Gerald Quattlebaum, executive vice president of acquisitions with Flagship, said that the purchase of the Class A medical facility is the second such purchase for the company in the Columbia area in the past 12 months.

“The property’s location in a medical park with close proximity to Prisma Health Richland Hospital makes this a highly desirable healthcare destination,” Quattlebaum said.  “Anchored by one of the state’s largest nephrology practices, along with one of the nation’s largest providers of dialysis services, this property serves patients both near and far in need of this specialized level of care.”

Flagship, as the new owner, will provide both property management and asset management services for the Class A medical facility.

Flagship bought the MOB in Columbia via its investment subdivision, which is called Flagship Healthcare Trust.

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HUNTERSVILLE, N.C.—Healthcare real estate development firm Flagship Healthcare Properties has added to its portfolio in the Charlotte region with its recent purchase of Huntersville Medical Plaza, a two-story, 26,166-square-foot outpatient medical office building (MOB) located in the suburb of Huntersville.

The MOB, a Class A facility, was first constructed in 2009 in an area known as Lake Norman.  Its location at 17220 Northcross Drive allows for easy access to Interstate 77, and it is located near the large Birkdale Village apartment complex.

In addition to the building itself, Flagship will inherit the Huntersville Medical Plaza’s major tenant, Novant Health Huntersville Pediatrics & Internal Medicine, which already occupies the entire first floor of the MOB, utilizing 13,000 square feet of healthcare space therein.  Novant Health’s offered services at the MOB include geriatric care as well as neonatal facilities.

In a statement regarding the buy, Flagship’s executive vice president of acquisitions, Gerald Quattlebaum, said that his company will work with Novant, as well as other prospective tenants, on making use of “the advantages of this well-located MOB in this dynamic part of the Charlotte market.”

“We are excited to expand our Charlotte area presence into the rapidly growing Lake Norman submarket and look forward to continuing our partnership with Novant Health,” Quattlebaum said.

In addition to being the new owners, Quattlebaum’s firm will perform asset management and property management.

Flagship bought the Huntersville Medical Plaza through its real estate investment arm, which is called Flagship Healthcare Trust, Inc.  The deal was brokered by CBRE’s Institutional Properties Group, and was financed by the Atlantic Union Bank’s Charlotte branch.

Flagship, which is based in Charlotte, has bought several medical properties recently in North Carolina’s largest city.  Earlier this summer they also acquired a MOB in the Charlotte suburb of Hickory as well as the nearby Tate Medical Commons IV medical complex.

The firm currently manages over 4 million square feet of healthcare real estate space at 165 properties.

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HICKORY, N.C.—Medical real estate firm Flagship Healthcare Properties has further expanded its portfolio in the greater Charlotte area with the purchase of the 55,912-square-foot Tate Medical Commons IV medical office building, located in the town of Hickory, about 50 miles from downtown Charlotte.

The MOB, constructed in 2004, has as its main tenant Catawba Valley Medical Center (CVMC), the largest nonprofit community hospital in the Charlotte area. The CVMC’s healthcare facilities include a full suite of diagnostic imaging services, hyperbaric chamber, as well as a lab for the study of sleep disorders. Furthemore, the facility also hosts the Catawba Women’s Center, which offers the full spectrum of OB-GYN services. The center has operated in western North Carolina in some fashion since 1972.

In a recent statement about the purchase, Gerald Quattlebaum, executive vice president of acquisitions at Flagship, said that Tate IV MOB is the fifth such addition to his firm’s portfolio in seven months.

“Hickory sits in a strategic position serving the healthcare needs of this region, and there is a lot to like about this healthcare community, both from a provider, patient population and demographic standpoint,” Quattlebaum said.

Flagship purchased the Hickory site via its investment division, which is called Flagship Healthcare Trust, Inc. As the new owner, Flagship will be providing asset management and property management.

The deal was financed by First Horizon Bank.

“This facility is a critical healthcare destination for patients seeking hospital outpatient services as well as a synergistic blend of physician specialties,” Quattlebaum said.

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RALEIGH, N.C.—Charlotte-based healthcare real estate firm Flagship Healthcare Properties has expanded its footprint in North Carolina’s capital of Raleigh thanks to its purchase of the 20,962-square-foot ambulatory facility known as the Blue Ridge Surgery Center.

The medical facility was initially built in 1994 on two acres of property located at 2308 Wesvill Court on the Blue Ridge Medical Corridor in West Raleigh, which gives it proximity to the nearby 559-bed UNC Rex Hospital. Walkable amenities for staff and patients include The Marketplace of Lake Boone and Lake Boone Shopping Center.

The Blue Ridge Surgery Center’s multidisciplinary medical services include anesthesiology, breast surgery, colorectal surgery, ENT, otolaryngology, gynecology, orthopedic surgery, pain management, plastic surgery, podiatry, spinal surgery and urology.

As the new owner, Flagship will also be providing asset management services for the West Raleigh facility.

“We are proud to be partners with some of the finest surgeons in the market along with Surgical Care Affiliates (SCA), who is one of the nation’s leading operators of ambulatory surgery centers in the country,” Gerald Quattlebaum, senior vice president of acquisitions for Flagship, said in a statement about the company’s purchase. “This also represents a rare opportunity in which we were able to acquire this state-of-the-art surgical facility which sits adjacent to a medical office building we already own and manage.”

Flagship’s private real estate investment trust, Flagship Healthcare Trust, Inc. (Flagship REIT) acted as the purchaser of the Blue Ridge Medical Corridor, with Jed Byrne of Capital Associates representing the seller.

Flagship REIT’s portfolio also entails $400 million worth of other healthcare properties around the country, encompassing 1.4 million square feet of medical office space and nearly 200 tenants.

Flagship Healthcare Properties offers real estate investment, development, capital solutions, asset management and leasing services throughout the Southeast and Mid-Atlantic regions. The firm currently manages over 4 million square feet of healthcare space, and has also developed or bought 80 properties with a collective value of nearly $700 million.

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LEXINGTON, Ky.—Healthcare real estate development firm Flagship Healthcare Properties has purchased a 44,290-square-foot Class A medical office building (MOB), located at 1775 Alysheba Way in the university town of Lexington, Kentucky. As part of the transaction, Flagship has announced that the MOB will be jointly leased by the Lexington offices of Baptist Healthcare and Family Practice Associates.

Family Practice Associates of Lexington is occupying 18,000 square feet of the MOB, or approximately 47 percent of the available healthcare space in the building. Baptist Healthcare of Lexington is leasing out the remaining 26,290 square feet of space, which it will utilize as outpatient care space for the nearby Baptist Health Lexington hospital.

The MOB facility was initially constructed in 2004 and is located in Lexington’s Hamburg neighborhood, sited just a mile from Interstate 75.

Flagship, based in Charlotte, N.C., acquired the MOB in Lexington via its subsidiary real estate investment trust, called Flagship Healthcare Trust. First Horizon Bank provided financial backing for the sale, with Mark Rubin of Rubin Properties acting on the seller’s behalf.

“We really like the Lexington market and are happy to be able to expand our presence here,” said Gerald Quattlebaum, senior vice president of acquisitions for Flagship, regarding his firm’s purchase of the property at 1775 Alysheba Way. “We are fortunate to have been selected by Family Practice Associates for this transaction, and we look forward to working closely with them and Baptist Healthcare of Lexington as they continue to grow and meet their patients’ needs.”

Flagship manages over 4 million square feet of healthcare real estate at over 155 properties, and the company has also bought some 80 properties with a collective value of $675 million. Through its Flagship Healthcare Trust subsidiary, the company maintains an active interest in $400 million of healthcare real estate properties around the country.

Lexington, home to the University of Kentucky, is located 25 miles east of the state capital of Frankfort and 80 miles east of Louisville, where the annual Kentucky Derby takes place at the racetrack of Churchill Downs.

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CHARLOTTE, N.C.—Flagship Healthcare Properties, based in North Carolina’s largest city, has successfully leased out its medical office building at 1900 Scott Avenue, thereby returning the medical office building (MOB) facility to 100 percent occupancy.

The entire first floor of the MOB will be rented out by national healthcare provider Veritas Collaborative, a firm that specializes in the treatment of eating disorders. Just one floor up from Veritas, Atrium Health has signed a lease for the building’s entire second floor, where it will open a new practice in pediatrics. The two-story, 17,272-square-foot class “A” MOB at 1900 Scott Avenue is situated less than a mile from Atrium Health’s Carolinas Medical Center.

“Veritas Collaborative is thrilled to have a permanent space to serve persons with eating disorders and to have a central location that is easily accessible,” Dr. Preeti Matkins, executive director of Veritas Collaborative Charlotte, said in a recent statement. “Being close to medical hospitals and to food service were major factors in choosing this site.”

The 1900 Scott Avenue MOB space offers on-site building signage, access to all of the major interstate highways in the Charlotte region as well as a surface parking ratio of five per 1,000.

“I am very pleased to have secured these two leases in the dynamic Midtown submarket,” said Reed Griffith, partner and executive vice president of leasing and brokerage for Flagship. “We now have a strong tenant mix to continue the legacy of healthcare services at 1900 Scott Avenue.”

The negotiators who worked on the lease deal entailed Sue Back with Davis Moore representing Veritas Collaborative and Marshall Williamson of Lincoln Harris working on behalf of Atrium Health. Flagship’s own Reed Griffith represented the landlord on both lease deals.

Flagship manages nearly 4 million square feet of healthcare real estate across at over 150 properties and has also developed or acquired properties valued at over $600 million.

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GRANITE FALLS, N.C.—Charlotte-based Flagship Healthcare Properties announced the completion and delivery this month of a 20,995-square-foot ambulatory surgery center (ASC) at RiverCrest Medical Park, located at 180 Riverbend Drive in Granite Falls.  Flagship Healthcare Properties, based in Charlotte, began work on the ASC in July 2018 for client Prime Surgical Suites, an affiliate of Caldwell UNC Healthcare.

Prime Surgical Suites focuses its efforts on orthopedic procedures that include working to assist their patients in the mobility of joints, spine-related problems, foot and ankle procedures, as well as assisting patients who have suffered various sports-related surgeries.

A ribbon-cutting ceremony Sept. 4 to open the new facility was attended by Prime Surgical Center physicians and staff, Caldwell UNC Healthcare executives, as well as Flagship CEO Charles Campbell and Property Manager Kristen Reese.

Thorn Baccich, vice president of development at Flagship Healthcare Properties, thanked contractor Keach Construction and architect Clark Paterson Lee at the ribbon-cutting ceremony for their efforts on the project.  

“It has been a pleasure working with representatives from Prime Surgical Suites and Caldwell UNC Healthcare to bring this project to life” as well, Baccich said.  “We are proud to have played an important role in delivering a state-of-the-art healthcare facility that will benefit residents of Caldwell County [and] we look forward to the next opportunity to help our health system and provider clients improve care within the populations they serve.”

Following the ribbon-cutting ceremony, honored guests were invited to tour the interior of the ASC, which included a demonstration of the state-of-the-art NAVIO Surgical System for robotic-assisted total knee replacement. 

The ASC has opened its doors with three operating rooms and one procedure room at the ready and has enough space to eventually accommodate four operating rooms total. 

“We are excited to be the first orthopedic ambulatory surgery center in the region, and to be able to provide needed services to our community to live healthy lifestyles,” Teresa Burwell, director of Prime Surgical Suites, said as part of the festivities. “Flagship has been an excellent development partner through every step of the process.”

Construction on the new ASC, located adjacent to the existing RiverCrest medical office building, began in July 2018.  Atlantic Union Bank providing financial backing for the work, which took 14 months.

The building will be owned by Flagship Healthcare Trust, Inc., the company that acts as Flagship’s private real estate investment trust.  Flagship will also provide property and asset management services for the facility after delivery. 

Flagship Healthcare Properties manages over 3.9 million square feet of healthcare real estate across 150 properties servicing nearly 500 tenants.  Flagship’s portfolio of properties it has acquired and/or developed is valued at over $600 million, and its Healthcare Trust holds a $350 million interest in over 40 healthcare properties around the nation. 

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CHARLOTTE, N.C. — Flagship Healthcare Properties (Flagship) announced that construction has reached completion on a new 11,000-square-foot medical office building (MOB) for Caldwell UNC Health Care (Caldwell).

Beginning construction on the new MOB in April 2018; the Caldwell team held a ribbon-cutting ceremony to celebrate the opening of the facility on Feb. 27, 2019 with Caldwell executives, staff and physicians in attendance as well as Flagship’s Vice President of Development, Thorn Baccich, Senior Vice President of Development, Dev Gregg, and Senior Vice President of Asset Management, Rex Noble.

The new MOB was constructed on a 3.8-acre site previously owned by Caldwell and sold to Flagship in early 2018.

The site included two existing buildings, one formerly serving non-clinical administrative purposes and a second that was the long-time home of Southfork Family Care before their transition into the new MOB.

Additionally, the new MOB will include an urgent care while Caldwell will continue to use the two older building for non-clinical purposes.

As part of the transaction, Flagship purchased the land and existing buildings, creating leases between Flagship and Caldwell. The site is approximately five miles from Caldwell Memorial Hospital in Lenoir, N.C.

“We admire Caldwell’s dedication to providing the highest standard of care to the communities they serve, and we are pleased to be the developer selected to deliver this facility, which will elevate the levels of care available for the residents of Cajah’s Mountain and throughout Caldwell County,” said Thorn Baccich. “We are excited to continue working with Caldwell at this location as Property Manager, and look forward to future partnership opportunities with Caldwell.”

Throughout the design and construction processes, Flagship worked closely with the clinic’s practice manager and the Town of Cajah’s Mountain to build the new medical office building, mere feet away from an existing family care office, while ensuring access to the facility and Caldwell’s high standard of care for their patients were not compromised by construction activities.

Through communication and teamwork between Flagship, Caldwell and the design & construction team, Flagship delivered the new MOB within budget and on time, based on the original pre-construction schedule.

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