WAUWATOSA, Wis.—IRA Capital (IRA) has announced the acquisition of a multi-specialty ambulatory surgery center (ASC) comprising 11,200 square feet in Wauwatosa. The Property is 100% occupied by Wauwatosa Surgery Center, a partner of Surgical Care Affiliates (SCA). The Property has functioned as Wauwatosa Surgery Center’s exclusive location for over 30 years and provides various comprehensive outpatient services including anesthesiology, general surgery, and orthopedic surgery among many others. IRA acquired the property through a sale-leaseback that was structured with Surgical Care Affiliates and the physician owners of the Property.

The surgery center has four highly specialized operating rooms, multiple pre-op and post-op recovery areas, and patient suites that allow for overnight stay. The facility is strategically positioned a couple miles from Milwaukee Regional Medical Center, home to Milwaukee’s largest hospitals including Freodtert Health’s largest 516-bed hospital and only Level I Adult Trauma Center in the region. The Medical Center is also nationally recognized for having the Children’s Hospital of Wisconsin’s Level 1 Pediatric Trauma Center. The Medical Center also houses the Medical College of Wisconsin, the largest research center in the Milwaukee metropolitan area and the second-largest in Wisconsin.

Wauwatosa Surgery Center is operated by Surgical Care Affiliates, one of the largest providers of outpatient surgery in the United States and an operator of 230 ambulatory surgery centers in 35 states. Surgical Care Affiliates performs over 1 million procedures a year in partnership with approximately 3,500 physicians and 10,000 teammates.

IRA’s medical office strategy has included the acquisition of both single and multi-specialty ambulatory surgery centers across the country. IRA recently acquired four other surgery centers in the last 30 days. According to IRA partner and co-founder Samir Patel, “this transaction was of interest to IRA for various reasons, including the facility’s close proximity to Milwaukee Regional Medical Center and the long-standing track record and strong performance of the surgery center.”

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CHARLOTTE, N.C.—Healthcare real estate firm Flagship has acquired the Charlotte Surgery Center-Museum Campus in North Carolina’s largest city. The real estate investment trust (REIT) that is operated under the Flagship umbrella purchased the 19,767-square-foot ambulatory surgery center (ASC) at 2825 Randolph Road, located but a few minutes’ drive from the downtown Charlotte corridor as well as the Myers Park and Cotswold neighborhoods.

The Charlotte Surgery Center—Museum Campus was first constructed in 1984 and has been expanded several times over the years, most recently in 2019. The surgery center is managed by the regional firm Surgical Care Affiliates, which works in conjunction with medical providers across the country to optimize the operation of various surgical facilities. SCA operates over 200 surgical facilities across its portfolio of properties.

“We are grateful for the opportunity to once again team with Surgical Care Affiliates and their outstanding surgeon partners,” Gerald Quattlebaum, senior vice president of acquisitions at Flagship, said in a recent statement about the acquisition. “The recently completed renovation and expansion will allow these physicians to meet the growing demand for outpatient surgery in the heart of Charlotte.”

The Charlotte Surgery Center practice opened nearly four decades ago, and its facilities have since expanded to include focused care in such fields as general surgery, gynecology, ophthalmology, orthopedic, plastic, podiatry and urology practices. The surgery center employs over 50 surgeons and physicians.

Flagship made the purchase of the Charlotte Surgery Center—Museum Campus via its subsidiary REIT, Flagship Healthcare Trust, Inc. Flagship’s representative for the sale was

Tiffany Slayden. Flagship’s services for the Charlotte healthcare facility will entail asset and property management services.

Flagship, based in Charlotte, has many properties throughout the Southeast and Mid-Atlantic regions. The company’s portfolio includes managing over 4.3 million square feet of healthcare space at nearly 200 properties. Its REIT has a controlling interest in more than 50 properties valued at over $400 million and encompassing 1.4 million square feet of medical use space at various locations.

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