News Release: Anchor Health Properties Announces Acquisition of Denver Medical Office Portfolio

FOR IMMEDIATE RELEASE

July 10, 2017

Contact: Emily Kanter, Maven Communications, ekanter@mavenagency.com, 215-434-7195

(Philadelphia, PA)- Anchor Health Properties, a national full service leasing, management, development, and investments firm focused on healthcare real estate, is pleased to announce the acquisition of a portfolio of three Class A medical office assets in metro Denver, Colorado on June 15th.

The acquisition was made on behalf of Chestnut Healthcare Partners, a core healthcare real estate equity fund focused on the acquisition of medical office buildings across the United States.  Chestnut Healthcare Partners is co-managed between Anchor Health Properties and Chestnut Real Estate, a real estate investment firm based in Chattanooga, TN. The portfolio buildings are spread across the Denver submarkets of Highlands Ranch and Cherry Hills. This investment marks the fund’s first investments in Colorado as Anchor Health Properties continues its expansion into the Western United States.  The buildings were developed by Dick Siegert of Foothills Real Estate and include over 60,000 square feet of multi-tenant medical office space anchored by key national and regional medical tenancy.

“We are excited about the opportunity to acquire several best-in-class outpatient medical projects in the Denver marketplace as directly owned investments in our Chestnut Healthcare Partners Fund,” said James Schmid, Chief Investment Officer of Anchor Health Properties. “The high growth demographics of the Denver area lend themselves well to increasing medical services. The barriers to entry in the building submarkets and proximity to key medical demand drivers should further enhance the investments over time.  We hope to build on this portfolio to pursue other medical acquisition and development opportunities across Colorado.”

The portfolio includes:

Cherry Hills Medical Plaza
3535 S Lafayette Street
RSF: 21,605

Highlands Ranch Medical Plaza I
9330 S. University Boulevard
RSF: 22,365

Highlands Ranch Medical Plaza I
9331 S. Colorado Boulevard
RSF: 17,723

Capital One provided secured debt financing for the transaction.  RealSource Group facilitated the sale on behalf of the Seller. 

About Anchor Health Properties

Anchor Health Properties is a national, full-service healthcare real estate development, management and acquisitions company focused exclusively on medical facilities. Anchor takes a strategic approach to navigating the extremely competitive healthcare marketplace, considering multiple angles, such as retail drivers, customer experience, branding and efficiency of the project. The company develops and manages projects across the United States that respond to the new landscape of employed physicians, team-based care, the need to optimize assets and reduce duplication, and the integration of care and technology. Healthcare today calls not only for new and more efficient ways of delivering outpatient services, but also a different kind of healthcare development and management company.  For more information, please visit: www.anchorhealthproperties.com.

About Chestnut Real Estate

Chestnut Real Estate (“Chestnut”) is an investment and asset management company located in Chattanooga, Tennessee. Chestnut manages commercial real estate investment funds that invest primarily in medical office and retail properties across the U.S. The company is focused on making investments alongside experienced partners in the acquisition of core properties as well as in development, redevelopment and value-add commercial real estate projects. Additional information about Chestnut is available at www.chestnutre.com.

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Emily Kanter
Maven Communications
Senior Account Executive
O: 215.434.7195
M: 610.308.4705
www.mavenagency.com

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