NEWS RELEASE
FOR IMMEDIATE RELEASE
Healthcare real estate firm acquires medical office building in Prince George, Virginia
CHARLOTTE, N.C. (April 17, 2020) — Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, expands its Virginia footprint with the acquisition of a 15,457-square-foot, newly-constructed medical office building (MOB). The MOB is located at 1775 Lake Harley Drive in Prince George, Virginia, just south of downtown Richmond. Positioned within the Puddledock Medical Center in the fast-growing Richmond-Prince George MSA, the MOB is also near Fort Lee, the third largest training site for the U.S. Army.
The MOB is fully leased by Virginia Physicians for Women (VPFW), one of the largest independent OB-GYN practices in the Mid-Atlantic region with over 175 employees and more than 30 providers. VPFW’s core services include adolescent gynecology, birth control, bone density scans, gynecologic problem care, lab services, mammography, menopause management, obstetric care, STD care, ultrasound, urogynecology, weight management and annual exams.
“We are delighted to expand our presence in the Greater Richmond area and partner with the incredible team at Virginia Physicians for Women (VPFW),” said Gerald Quattlebaum, senior vice president of acquisitions at Flagship. “We have tremendous respect for VPFW as market leaders in women’s healthcare and appreciate the trust and confidence they have placed in us in supporting their continued growth.”
Flagship acquired the property through its private real estate investment trust, Flagship Healthcare Trust, Inc. As the new owner of the building, Flagship will provide asset management services.
The transaction was brokered by Chris Rice, executive vice president of NAI Dominion and financing was provided by the Charlotte office of TowneBank.
For more information about Flagship Healthcare Properties, visit www.flagshiphp.com.
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About Flagship Healthcare Properties
Flagship Healthcare Properties, LLC (Flagship) is a fully-integrated outpatient healthcare real estate firm serving clients throughout the Southeastern and Southern Mid-Atlantic United States. 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 4.3 million square feet of healthcare real estate across more than 165 properties serving in excess of 465 tenants. The firm has developed or acquired over 80 properties valued at more than $675 million. Flagship serves as the manager of its private REIT, Flagship Healthcare Trust, Inc. For further information, visit www.FlagshipHP.com.
About Flagship Healthcare Trust
Flagship Healthcare Trust, Inc. (Flagship REIT), is a private real estate investment trust that owns clinical healthcare assets in the United States. Flagship REIT holds interest in more than 50 healthcare properties valued at over $408 million. Flagship REIT’s current portfolio includes more than 1.4 million square feet of medical office space and approximately 185 tenants. For further information, visit www.FlagshipHP.com.
Media Contact:
Julie Parrotta, Public Relations Manager
SPARK Strategic Ideas
Jparrotta@sparksi.com and 704.625.2194
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