FOR IMMEDIATE RELEASE
December 15, 2020
(Media, PA) Anchor Health Properties (Anchor), a national full service healthcare real estate development, management, and investment company focused exclusively on healthcare facilities, has recently closed on a 38,858 Class A medical office building in Happy Valley, Oregon, a submarket of Portland. Acquired through a joint venture with an existing institutional equity partner, this asset marks Anchor’s first investment in the greater Portland MSA, and the only institutional medical office asset to trade in the Portland MSA in 2020.
Strategically located at 9200 SE 91st Avenue, the facility features close proximity to Adventist Medical Center and Providence Portland Medical Center. The 100% occupied building is anchored by East Portland Surgical Center, a four-operating room Ambulatory Surgery Center that is operated as a joint venture between USPI, a physician syndication, and Legacy Health, one of the top health systems in the market. This surgery center is a top performing location for the health system and offers a diverse mix of services, including cosmetic surgery, ENT, GI, gynecology, neurosurgery, ophthalmology, orthopedic, general pain, and urology.
“Our recent acquisition of the Mt. Scott Professional Center represents the kind of deal we are looking for – an off market, 100% leased asset with high-quality, long-term regional tenancy that is located in a -high barrier to entry market,” shared James Schmid, Chief Investment Officer and Managing Partner with Anchor. Schmid added that, “despite the ongoing pandemic, the Anchor investments team was able to spend meaningful time understanding a new market for the firm including time on the ground in a safe and responsible fashion- a key element in our ability to close 27 transactions this year, many of which were not marketed to a broad audience if at all”.
Elliott Sellers of Anchor, who led underwriting efforts on the transaction, added, “with a majority of the in-place tenancy original to the building, we are excited about acquiring this outstanding property and building relationships with trusted, market-leading practices in the area. The Happy Valley submarket sits squarely in east Portland and is strategic to established and growing healthcare providers due to proximity to the Clackamas County population base and state-of-the-art medical centers that continue to grow in market share.”
Additional tenancy at this facility includes The Oregon Clinic, a patient-centered data-driven medical and surgical practice serving patients throughout the greater Portland MSA with 84 locations, and Clearview MRI, a medical imaging practice with four regional locations.
Sean Brennecke and Mark Fraser with Kidder Matthews provided sale advisory services and Capital One provided debt financing services. Anchor Health Properties will also provide asset and property management at this location.
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 more than six million square feet of medical office space, inclusive of numerous projects under construction. Anchor maintains multiple offices nationwide and features more than 75 professionals in its ranks. Over the past five years, Anchor principals have acquired and/or developed more than $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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