FOR IMMEDIATE RELEASE
Healthcare real estate firm acquires medical office buildings in Hickory, North Carolina
Charlotte, N.C. (June 15, 2020) — Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, expands its North Carolina footprint with the acquisition of three outpatient medical office buildings (MOB) in Hickory, N.C. totaling 88,000 square feet.
The MOBs have an overall occupancy of 96% and include major tenants such as the Veteran’s Administration Hickory Outpatient Clinic (25,920 square feet) which focuses on the primary care, general mental health, audiology and optometry services for United States veterans in the region; and A Woman’s View (20,470 square foot) that provides obstetrics and gynecology, primary care, imaging and laboratory services. Included in the portfolio are practices associated with Frye Regional Medical Center, owned by Duke LifePoint Healthcare, (19,923 square feet) providing behavioral health, internal medicine, primary care and pulmonary services.
“We are very pleased to be able to grow our presence in Hickory and continue to add scale in our home market of the Charlotte region,” said Gerald Quattlebaum, executive vice president of acquisitions at Flagship. “Hickory has a strong healthcare market that serves a sizable population in the northwest area of North Carolina. These medical office properties are ideally situated in close proximity to important hospital services and surrounding patient populations.”
Flagship acquired the MOBs through its private real estate investment trust, Flagship Healthcare Trust, Inc. (Flagship REIT). As the new owner of the buildings, Flagship will provide property management and asset management services.
Financing was provided by First Horizon Bank.
For more information about Flagship Healthcare Properties, visit www.FlagshipHP.com.
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 4.2 million square feet of healthcare real estate across more than 155 properties serving in excess of 465 tenants. The firm has developed or acquired over 75 properties valued at more than $600 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
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 60 healthcare properties valued at over $450 million. Flagship REIT’s current portfolio includes nearly 1.6 million square feet of medical office space and more than 190 tenants.
Julie Parrotta, Public Relations Manager
SPARK Strategic Ideas
Jparrotta@sparksi.com and 704.625.2194
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