MONTGOMERY & PRATTVILLE, Ala.—The healthcare real estate company Flagship Healthcare Properties has added to its portfolio in the Yellowhammer State, with the recent acquisition of one medical building in Prattville and another in the capital city of Montgomery.

Between the two medical office buildings (MOB), the combined space will offer 10 operating suites, three procedure rooms, four X-ray rooms, eight exam rooms as well as a pathology lab.

Flagship announced that it will continue to host the buildings’ former owners, Oral & Maxillofacial Surgery Associates (OMSA), under long-term leases at both sites.

“We couldn’t be happier to partner with this dynamic group of physicians and expand our presence in Alabama,” Gerald Quattlebaum, executive vice president of acquisitions for Flagship, said in a recent statement about the purchases.  “These physicians represent best-in-class and are the dominant, market leaders in the capital city.”

Flagship’s subsidiary, Flagship Healthcare Trust, Inc., served as the purchasing entity for the MOBs.  The deal itself was brokered by Josh Randolph of Colliers International of Birmingham, and was financed by United Bank.

OMSA has been a player in the healthcare market of Alabama for three decades.  The company estimates that they provide 70 percent of all healthcare in the greater Montgomery area.

Flagship, headquartered in Charlotte, owns and manages many healthcare properties throughout the Southeast encompassing over 4 million square feet of healthcare space at 165 properties.

“We look forward to supporting Oral & Maxillofacial Surgery Associates as they continue to grow to meet the needs of the patients in the greater Montgomery area,” Quattlebaum said.

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HICKORY, N.C.—Healthcare real estate player Flagship Healthcare Properties has extended its holdings in the Tarheel State with yet another acquisition, this time three medical office buildings (MOB) totaling nearly 90,000 square feet of medical use space.  The property is located in Hickory, which is about 60 miles north of downtown Charlotte, where Flagship’s operations are based.

Flagship purchased the trio of MOBs through its subsidiary, Flagship Healthcare Trust, which is the company’s private real estate investment arm.  Flagship will provide property management and asset management services as the buildings’ brand-new owner.

The trio of MOBs currently has an overall occupancy of 96 percent, Flagship announced, with such long-standing tenants including the Veteran’s Administration Hickory Outpatient Clinic, which caters to the primary and specialized care for veterans in the area.  Other tenants at the MOBs include A Woman’s View, whose specialties include obstetrics and gynecology, as well as laboratory services.  Among the other healthcare tenants are the offices of Frye Regional Medical Center, which is owned by Duke LifePoint Healthcare.  Frye’s offices at the MOB in Hickory provide patient care in subspecialties such as behavioral health, internal medicine and pulmonary services.

In a statement regarding the acquisition, Gerald Quattlebaum, executive vice president of acquisitions at Flagship, said that his firm is thrilled to be increasing its share of the healthcare sector in the firm’s “home market” of the greater Charlotte region.

“Hickory has a strong healthcare market that serves a sizable population in the northwest area of North Carolina,” Quattlebaum said.  “These medical office properties are ideally situated in close proximity to important hospital services and surrounding patient populations.”

Financing for the deal was made possible by First Horizon Bank.

Flagship’s private real estate investment trust, Flagship Healthcare Trust, Inc., maintains ownership of 1.6 million square feet of healthcare assets at over 60 properties, with a collective value of some $450 million, the firm announced.  Other properties the firm has recently acquired in North Carolina include an ambulatory surgery center, also in Hickory, as well as a surgery center in Charlotte.

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HICKORY, N.C.-Healthcare real estate development firm Flagship Healthcare Properties has acquired a Class A medical office building and ambulatory surgery center (ASC) at 214 18th Street SE in Hickory, the firm announced recently. The 45,390-square-foot property has been fully leased to healthcare operators OrthoCarolina and Frye Surgery Center.

OrthoCarolina has leased 32,522 square feet of the Hickory property, representing 72 percent of the total healthcare space. The remaining 28 percent-12,868 square feet-will be utilized by the Frye Surgery Center.

“We are pleased to acquire this first-class facility that houses two prominent healthcare providers,” Gerald Quattlebaum, senior vice president of acquisitions for Flagship, said in a statement regarding the buy. “We have a long-standing relationship with OrthoCarolina and have a tremendous amount of respect and admiration for what they do. We look forward to working with both tenants and expanding those relationships in the Hickory market.”

At the Hickory property, OrthoCarolina will offer patients physical therapy, an urgent care facility, as well as an MRI clinic. The healthcare firm’s offices will also be set up to deal with hand surgery, joint replacement, spine care, physiatry, and sports medicine. The offices will also be staffed with medical professionals just like Dr. Sanjay Desai hand surgeon to ensure that patients are treated exceptionally well.

The Frye Surgery Center, which operates as a department of Frye Regional Medical Center, falls under the umbrella of Duke LifePoint Healthcare. At the Hickory ASC, the Frye Surgery Center will offer services at four surgical suites, with specialty care focused on cardiothoracic, neurosurgery, vascular, oncology, oculoplasty, dental, orthopedic, ear nose and throat, plastic and reconstructive, urological, general, gynecology and podiatry.

Flagship bought the Hickory facility under the aegis of its real estate investment fund, Flagship Healthcare Trust, through whom the company has also purchased other healthcare properties in North Carolina within the past year. Flagship has announced it is providing property and asset management services as part of the deal, which was financed by First National Bank.

“We are honored to be the real estate partner chosen by the sellers, and warmly welcome these new investors to the Flagship REIT family,” Charles Campbell, CEO and co-managing partner with Flagship, said of the sale.

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COLUMBIA, S.C.—Flagship Healthcare Properties of Charlotte, N.C., has announced that the company has acquired a 57,375-square-foot medical office building (MOB) in nearby Columbia, that is currently anchored by Prisma Health. Flagship said the acquisition was facilitated through the firm’s real estate investment trust, Flagship Healthcare Trust.

The MOB is located in Columbia’s northeast submarket, which is rapidly becoming one of the trendiest areas of South Carolina’s capital city. The healthcare facility is sited at 101 Business Park Boulevard, located just off of Interstate 77. Furthermore, Providence Health Northeast, a hospital with 74 beds, is situated just one mile away.

“We are very pleased to acquire this high-quality, Prisma Health-anchored medical office building here in our backyard,” commented Gerald Quattlebaum, senior vice president of acquisitions with Flagship. “This acquisition represents a tremendous value, well below replacement cost, in a market that we desire to have a bigger presence in. We look forward to working closely with Prisma Health as they continue to grow and expand within the community.”

Prisma Health is an entity that came about as the result of a merger of Palmetto Health and Greenville Health System. Its MOB facility in Columbia offers an urgent care clinic, physical rehabilitation facilities as well as on-site X-ray capabilities.

Flagship, as the new owner-operator of the Columbia MOB, will provide asset and property management services and also oversee the lease administration as part of its takeover. Roger Winn of Trinity Partners represented the seller, and First National Bank (FNB) provided financing for the sale.

Flagship Healthcare Properties says that the firm offers a full range of real estate services, and t manages nearly 4 million square feet of healthcare space at more than 150 properties around the nation. Its Flagship Healthcare Trust is a private real estate trust that owns more than 40 clinical healthcare assets valued at over $350 million.

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LITTLE ROCK, Ark.—Flagship Healthcare Trust, a real estate investment trust managed by Flagship Healthcare Properties, has acquired Little Rock Diagnostic Clinic’s (LRDC) medical office building in the Arkansas capital city. 

The LRDC clinic houses 96,692 square feet of medical office space.  It opened 60 years ago and has since expanded to become the largest multi-specialty practice in the entire central region of the Natural State. 

“We are honored to have been chosen by the physician partners of Little Rock Diagnostic Clinic for our first acquisition in the Little Rock market,” Gerald Quattlebaum, senior vice president of acquisitions at Flagship, said in a statement.  “It was a pleasure working with the leadership at LRDC, and the entire Flagship team looks forward to supporting their continued growth and success as their real estate partners.”

Flagship Healthcare Properties has taken over the property from the physician partners of LRDC.  The LRDC employs nearly three dozen specialists in fields as diverse as internal medicine, neurology, endocrinology, gastroenterology, podiatry, pulmonology, OBGYN and rheumatology. 

The LRDC is situated on the campus of Baptist Medical Center and boasts a diagnostic imaging center, ambulatory surgery center, a COLA Laboratory of Excellence accredited lab and also an infusion therapy center.

“After extensive diligence and deliberation, LRDC Real Estate LLC has decided to partner with Flagship Healthcare Properties,” said Nutan Bhaskar, M.D., who also serves as vice president of LRDC Real Estate.  “The physician partners of LRDC Real Estate LLC have the utmost confidence in the management team of Flagship Healthcare.”

LDRC’s specialists across many medical disciplines draw patients from throughout Arkansas as well as Alabama, Louisiana, Mississippi and Oklahoma.

Flagship Healthcare Properties manages 3.9 million square feet of healthcare space throughout the Southeast and Mid-Atlantic regions. 

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