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News Release: Flagship Healthcare Trust Acquires Surgery Center In Panama City, FL

Outpatient healthcare real estate firm expands Florida presence

CHARLOTTE, N.C. (January 5, 2020) – Flagship Healthcare Trust (Flagship), an outpatient healthcare real estate investment trust, has added the Panama City Surgery Center to its growing South Region portfolio. This marks the 2nd acquisition for Flagship in Florida within the last week.

Located at 1800 Jenks Avenue, the property is a Class A, 17,000-square foot, state-of-the-art ambulatory surgery center (ASC) that is considered the leading facility of its type in the region. The ASC provides advanced robotics and laser-assisted surgeries and other procedures in four operating rooms and two GI/pain procedure rooms. In addition, Panama City Surgery Center is a part of the Surgical Care Affiliates (SCA) network of ambulatory surgery centers. Panama City Surgery Center is located along the city’s medical corridor less than one mile from the Gulf Coast Regional Medical Center, a 223-bed acute care hospital that is a part of HCA Healthcare.

“This acquisition epitomizes our strategy of adding the most advanced, strongest-performing ASCs in dynamic healthcare markets in our geography,” said Gerald Quattlebaum, Flagship’s Executive Vice President of Acquisitions. “The Panama City Surgery Center is a market-leader and robust ASC comprised of a multitude of surgical specialists. In fact, we are currently in discussions with the physician leadership on how best to expand the ASC to meet the growing demand for outpatient surgical procedures. We’re excited to grow our portfolio in Florida with this strong asset.”

Christopher Stai of Healthcare Real Estate Advisors represented the seller in this transaction. Flagship Healthcare Properties, which serves as the external manager for the REIT, will provide asset management services for the property.

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 65 healthcare properties valued at over $500 million. Flagship REIT’s current portfolio includes more than 1.75 million square feet of medical office space and approximately 190 tenants. For further information, visit www.FlagshipHP.com.

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