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News Release: Anchor Health Properties Acquires Strategic Investment in Affluent Submarket of Howard County, Maryland

FOR IMMEDIATE RELEASE

March 23, 2020

(Media, PA) Anchor Health Properties (Anchor) a national full service healthcare real estate development, management, and investment company focused exclusively on medical facilities, has recently invested in an institutional quality medical office building and ambulatory surgery center located in Ellicott City, Maryland. Anchor directly acquired the asset with the firm’s co-managed healthcare fund, Chestnut Healthcare Fund I.

Strategically located at 2850 North Ridge Road in a submarket of Howard County – one of the wealthiest counties in the country – the nearly 40,000 square foot MOB and ambulatory surgery center contains a comprehensive surgery center on the ground level. The facility features direct adjacency to a large 48-acre senior housing community and a 182-bed skilled nursing / rehabilitation facility.

The asset also enjoys long-term tenancy – on average, the current tenants have been present in the building for more than 16 years – and is the one of the only dedicated institutional quality medical office buildings in the submarket.

Anchored by the Ellicott City Ambulatory Surgery Center, a joint venture between LifeBridge Health and Orthopedic Associates of Central Maryland, additional synergistic services and tenancy of the building include chiropractic, orthopaedics, primary care, pediatrics, Seton Medical Group of Saint Agnes Hospital, and Howard County Child Advocacy services.

Anchor’s Chief Executive Officer Ben Ochs stated, “We are pleased to add the Ellicott City Ambulatory Surgery Center to our investment and property management portfolio. The building benefits from leading health system tenancy whom we are excited to partner with over the long-term as we continue to expand our healthcare portfolio and provide strategic capital in the Mid-Atlantic.”

“Over the past several years, we have deployed meaningful capital expenditures to create additional value in existing assets,” noted Mervyn Alphonso, Senior Vice President with Anchor. “Fully leased to a roster composed primarily of credit grade tenants and boasting superior visibility in an affluent metro area, this asset represents an ideal acquisition opportunity in the current market. We look forward to growing our presence in the greater Baltimore/Washington DC corridor along with expanding our relationship with LifeBridge Health and Orthopedic Associates of Central Maryland and continuing to build upon our track record of success in the Mid-Atlantic US.”

NAI KLNB led the sale efforts for the asset. CIT Financing provided secured debt financing for the acquisition. Anchor Health Properties will provide go-forward property management services at this location led by Michelle Etheridge who is based in the market. Anchor will also manage leasing services in-house.

About Anchor Health Properties

Anchor Health Properties is a national, full service healthcare real estate development, management, leasing, and investment serving investors and health systems. 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. We develop and manage 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. Anchor manages and leases roughly six million square feet of medical office space, inclusive of numerous projects under construction. Anchor maintains ten offices nationally and features more than 60 professionals in its ranks. Over the past five years, Anchor principals have acquired and/or developed over $3 billion of medical real estate across the country. 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.

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Contact: Rachael Hall, Anchor Health Properties rhall@anchorhealthproperties.com; 302-655-1010

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