FOR IMMEDIATE RELEASE
October 18, 2021
(Nashville, TN) 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 the acquisition of a two story, 29,738 square foot Class A medical office building located in the growing Antioch / Airport South submarket of Nashville, Tennessee. The asset was acquired through a joint venture with an institutional equity partner.
Strategically located in a dense commercial and retail corridor, the facility at 330 Wallace Road features proximity to TriStar Southern Hills Medical Center, a 126-bed comprehensive facility offering a variety of acute care services and is within seven miles of downtown Nashville. Constructed in 2006, comprehensive renovations were completed in 2020, including new HVAC units, landscaping and stie improvements, updated signage, and other mechanical and cosmetic enhancements.
The MOB is 84% occupied by a desirable roster of clinical medical tenancy, including Nashville Gastroenterology & Hepatology, a renowned local practice providing diagnostic gastroenterology and endoscopy services and Sanitas Medical Center, a national provider of primary care and urgent care services with more than 50 locations. A wholly-owned subsidiary of Keralty, a global health organization, Sanitas Medical Center is also partnered with Blue Cross Blue Shield (Moody’s Baa1) in Tennessee.
The anchor tenancy is joined by an additional synergistic mix of clinical services, including an imaging clinic operated by Nashville Pain and Wellness, orthopedics, rehabilitation, and dentistry.
“Advantageously situated in close proximity to TriStar Southern Hills Medical Center, we view this asset as a core, long-term holding of ours and look forward to supporting the best in class clinical medical tenancy there,” shared James Schmid, Chief Investment Officer and Managing Partner with Anchor. “As we join the neighboring community, this asset represents our sixth acquisition in Tennessee and our second significant investment in recent months as we continue to build scale across the broader Nashville MSA, which is one of Anchor’s largest markets by square feet managed. Our local office now offers ten team members with a healthy mix of experience across all of our platforms and as we continue to expand our ‘boots on the ground’ presence here, we expect to be investing more heavily in the MSA as well.”
Leading the acquisition process, Albert Lord, Investment Associate with Anchor, echoed Mr. Schmid’s sentiments, “This transaction further expands our footprint in the high growth Nashville market. The property offered an attractive opportunity to invest in a recently renovated facility in a location with desirable demographics, and to begin long-term relationships with highly respected physician groups. It was a pleasure working with all parties involved, including our partners at CBRE Nashville, and Capital One. We’re excited to see the success of this investment and its tenants over time.”
Frank Thomasson, First Vice President with CBRE provided sales advisory services on behalf of the Seller. Capital One provided secured debt financing. As the new owner of the facility, Anchor Health Properties will provide go forward asset, and property management services 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 seven million square feet of medical office space, inclusive of numerous projects under construction. Anchor maintains multiple offices nationwide and features 100 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.
Contact: Rachael Hall, Anchor Health Properties
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