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News Release: Flagship Healthcare Properties Completes Development of Medical Office Building in Cajah’s Mountain, N.C.

NEWS RELEASE

FOR IMMEDIATE RELEASE

Flagship Healthcare Properties Delivers Medical Office Building to Caldwell UNC Health Care

CHARLOTTE, N.C. (March 11, 2019) — Flagship Healthcare Properties (Flagship) is pleased to announce the completed construction of an 11,000-square-foot medical office building (MOB) for Caldwell UNC Health Care (Caldwell), located on Connelly Springs Road in Cajah’s Mountain, N.C. Construction of the project began in April 2018 and was delivered “turnkey” ready for occupancy in December 2018.

On February 27, the Caldwell team held a ribbon-cutting ceremony to celebrate the inauguration of the facility. Caldwell executives, staff and physicians were in attendance, as well as Flagship’s Vice President of Development Thorn Baccich, Senior Vice President of Development Dev Gregg, and Senior Vice President of Asset Management Rex Noble.

The new MOB was constructed on a 3.8-acre site previously owned by Caldwell and sold to Flagship in early 2018. The site included two existing buildings, one previously used for non-clinical administrative purposes and a second that was the long-time home of Southfork Family Care before their move into the new MOB. In addition to the Family Care practice, the new MOB will also include an Urgent Care. Caldwell will continue to utilize the two older buildings, but for non-clinical purposes. As part of the transaction, Flagship purchased the land and existing buildings, creating leases between Flagship and Caldwell. The site is approximately five miles from Caldwell Memorial Hospital in Lenoir, N.C.

“We admire Caldwell’s dedication to providing the highest standard of care to the communities they serve, and we are pleased to be the developer selected to deliver this facility, which will elevate the levels of care available for the residents of Cajah’s Mountain and throughout Caldwell County,” said Thorn Baccich. “We are excited to continue working with Caldwell at this location as Property Manager, and look forward to future partnership opportunities with Caldwell.

Throughout the design and construction processes, Flagship worked closely with the clinic’s practice manager and the Town of Cajah’s Mountain to build the new medical office building, mere feet away from an existing family care office, while ensuring access to the facility and Caldwell’s high standard of care for their patients were not compromised by construction activities. Through excellent communication and teamwork between Flagship, Caldwell and the design & construction team, Flagship delivered the new MOB within budget and on time, based on the original pre-construction schedule.

For more information, visit www.FlagshipHP.com.

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About Flagship Healthcare Properties
Flagship Healthcare Properties, LLC (“Flagship”) is a fully integrated commercial healthcare real estate firm serving clients throughout the Mid-Atlantic and Southeast regions. Headquartered in Charlotte, North Carolina, Flagship offers a full range of real estate services including investment and capital solutions, development, property sales, leasing and marketing, as well as facilities, property and asset management. Flagship manages over 3.6 million square feet of healthcare real estate across over 140 properties serving more than 440 tenants. The firm has developed over 1.7 million square feet of space and has acquired over 60 properties totaling more than 2 million square feet. Flagship serves as the manager of its private REIT, Flagship Healthcare Trust, Inc. For further information, visit www.FlagshipHP.com.

About Flagship Healthcare Trust
In 2018, Flagship Healthcare Properties, LLC launched Flagship Healthcare Trust, Inc. (“Flagship REIT”), a private real estate investment trust that owns clinical healthcare assets in the United States. A fully integrated, owner-operator firm, Flagship REIT’s current portfolio includes interests in more than 45 properties serving over 240 tenants, 1.4 million square feet of medical office space and more than $345 million in gross market value. For further information, visit www.FlagshipHP.com.

Media Contact:

Julie Parrotta, Public Relations Manager
704.625.2194 or jparrotta@sparksi.com

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