BIRMINGHAM, Ala. – The Sanders Trust, a Birmingham-based healthcare real estate and development firm, has completed the $21 million acquisition of a Class A medical center in Hagerstown, Maryland. The deal marks the expansion of The Sanders Trust footprint into its 22nd state.
The Parkway Professional Center is a 71,000-square-foot ambulatory care center located on Western Maryland Parkway. The property was constructed in 2005 and expanded with modern upgrades in 2011. The property is fully leased to several of the premier medical providers in the region.
“The Sanders Trust footprint now extends into almost half the country,” stated Rance Sanders, president and CEO of The Sanders Trust. “Entering into a new market naturally comes with much consideration. We are pleased to be associated with such outstanding tenants and are gratified to add this strong asset to our portfolio.”
A major tenant in the center is Parkway Neuroscience & Spine Institute. PNSI provides a Center of Excellence for the diagnosis, management, and treatment of disorders of the brain, spine, and peripheral nervous systems for the tri-state region. The facility includes a cutting-edge outpatient surgery center, diagnostic imaging, and on-site physical therapy.
Other major tenants include the Center for Joint Surgery and Sports Medicine, and Parkway Surgery Center, a subset of Surgical Care Affiliates, that offers comprehensive spine treatments and non-invasive surgical procedures. Imaging services offered on-site include a Fonar Upright Multi-Position MRI and a 3.0 Tesla MRI.
About the Sanders Trust
The Sanders Trust develops and acquires medical office buildings, inpatient rehabilitation hospitals and specialty hospitals nationwide. Headquartered in Birmingham, Alabama, The Sanders Trust has been a recognized leader in the investment community for healthcare clients since its inception in 1989 and has developed or acquired medical properties in 22 states valued at more than $1 billion.
For more information on The Sanders Trust, visit www.SandersTrust.com.
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