News Release: Flagship Healthcare Properties Completes Acquisition in Raleigh, N.C. Metro Area

NEWS RELEASE

FOR IMMEDIATE RELEASE

Flagship Healthcare Trust, Inc. acquires medical office building in Knightdale, N.C.

CHARLOTTE, N.C. (May 16, 2019) – Flagship Healthcare Trust, Inc., Flagship Healthcare Properties’ private REIT, has announced its acquisition of a 14,456-square-foot medical office building (MOB) located in Knightdale, N.C., a suburb of Raleigh. Along with the acquisition, Flagship will provide property and asset management services, as well as accounting and lease administration.

The majority of the building is occupied by UNC Family Practice, a UNC Health Care affiliate. Other tenants include Pivot Physical Therapy and Vardy Chiropractic.

“We are very pleased to acquire this UNC Health Care anchored building and to continue our strong relationship with them,” said Gerald Quattlebaum, senior vice president of acquisitions at Flagship. “They have recently completed an expansion at this location to meet their growing needs in the Raleigh market, and we look forward to working closely with them going forward.”

In conjunction with the recent expansions, the common areas of the building have recently been renovated along with upgraded finishes to UNC Family Practice’s and Pivot Physical Therapy’s offices.

Capital Bank, a member of the First Horizon family of companies, provided financing for the transaction.

For more information, visit https://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. Flagship REIT holds interest in more than 40 healthcare properties valued at over $300 million. Flagship REIT’s portfolio includes over 155 tenants and 1.15 million square feet of medical office space. For further information, visit www.FlagshipHP.com.

Media Contact: Jennings Cool, Public Relations Coordinator 704.412.3809 or jcool@sparksi.com

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