Tuscaloosa, AL – October 31, 2018 – Flagship Healthcare Properties (“Flagship”), manager of the private REIT Flagship Healthcare Trust, Inc. (“Flagship REIT”), announced today that the REIT has acquired a Class A ambulatory surgery center (“ASC”) & medical office building (“MOB”) in Tuscaloosa, Alabama.
Located at 1400-1406 McFarland Boulevard North, the roughly 20,000 square foot ASC features 5 operating rooms and 7 procedure rooms, and was acquired along with the attached 18,941 square foot MOB. Developed and owned by a group of physicians, the Tuscaloosa Surgical Center was the area’s first free-standing, outpatient surgical center. The property is anchored by the ASC in partnership with Surgical Care Affiliates (“SCA”), one of the nation’s largest operators of outpatient surgical centers in the country.
“Our physician partners are extremely pleased to announce the acquisition of The Tuscaloosa Surgical Center campus by Flagship Healthcare Properties. We are excited about the expertise, resources, and energy that the Flagship group brings, and we are confident that this new partnership will secure the legacy of excellence that has been established on our campus over the past 30 years.” commented Dr. James Poist, lead representative of the selling partners.
“With our continued growth we are always seeking new opportunities in new markets and so we are truly excited to complete this acquisition. Tuscaloosa, like many university markets, is experiencing unprecedented growth, not just from student and faculty populations, but from retirees as well. Coupled with the Mercedes Benz plant, the area is a thriving economy. The Tuscaloosa Surgery Center and attached medical office building are ideally located to serve this growing patient population. We look forward to working closely with the physician leadership in the years ahead as we seek to further strengthen its position in the marketplace.” said Gerald Quattlebaum, Senior Vice President of Acquisitions with Flagship Healthcare Properties.
Flagship will provide asset management and property management services for the building.
About Flagship Healthcare Properties, LLC
Flagship Healthcare Properties, LLC is a fully integrated commercial real estate firm committed to healthcare.
Flagship provides its clients a full range of real estate services including investment and capital solutions; consulting; development; property sales, leasing, and marketing; and facilities, property, and asset management. Flagship operates an integrated platform, having developed over 1.7 million square feet, and currently manages more than 3.5 million square feet of healthcare real estate encompassing more than 130 properties. Flagship serves as the manager of its private REIT, Flagship Healthcare Trust, Inc. For further information, visit www.FlagshipHP.com.
Contacts:
| Gerald Quattlebaum Sr Vice President, Acquisitions D. 704-749-7267 gerald@FlagshipHP.com
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Joli Blanks Director of Marketing d. 704-749-7255 joli@FlagshipHP.com
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