FOR IMMEDIATE RELEASE
December 06, 2021
(Franklin, 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 two Class A medical office buildings in high growth submarkets of Nashville, Tennessee. Totaling approximately 90,000 square feet, the assets were acquired through a joint venture with Harrison Street, a leading investment management firms exclusively focused on alternative real assets. One of Anchor’s largest target markets, the investment in these two MOBs effectively grows the Company’s portfolio in the Nashville MSA to six assets totaling nearly 250,000 square feet, and 18 assets totaling 734,000 square feet across the state of Tennessee. Additionally, Anchor manages and leases seven assets totaling 253,000 square feet on behalf of Maury Regional Medical Center in the southern portion of the Nashville MSA.
5073 Main Street | Spring Hill, Tennessee
Constructed in 2005, this two-story, 38,000 square foot, Class A MOB is occupied by a desirable tenant ecosystem and anchored by major national and regional healthcare providers, including Williamson Medical Center (Moody’s Aaa), a county owned and operated health system with one 542 bed hospital and several outpatient locations. Williamson Medical Center is joined by Snodgrass-King Dental, a major regional dental practice owned by North American Dental Group, who has served various locations in the area for more than thirty years. Complementary services at this location include dentistry, oncology, pain management, and podiatry.
Benefiting from recent capital improvements and new leasing efforts, the strategic internal medicine and primary care hub is positioned to provide the growing community with convenient, accessible healthcare services.
125 Cool Springs Boulevard | Franklin, Tennessee
Constructed in 2006, the two-story, 51,000 square foot, Class A MOB offers a variety of synergistic clinical services, including orthopedics, endodontics, dentistry, pain management, gastroenterology, and dermatology. The asset is also anchored by major national and regional healthcare providers, including Snodgrass-King Dental, a major regional dental practice owned by North American Dental Group, and Regenerative Solutions and Orthopedics, a local, private orthopedic practice led by two board certified physicians practicing sports medicine, preventative care, and rehabilitation.
The property is conveniently located in the desirable Cool Springs submarket, with close proximity to several regional hospitals, including Williamson Medical Center, Vanderbilt University Hospital, and Tristar Centennial Medical Center. The specialty care facility also benefits from recent capital improvements and new leasing efforts.
“As we continue our banner year of strategic investments totaling nearly $900m, we remain committed to our purpose statement and guiding investment thesis,” shared James Schmid, Chief Investment Officer and Managing Partner with Anchor. “Focused on building long-term relationships with prominent local and regional providers with exceptional properties in dynamic and growing medical markets, our team seeks to align with clinical medical professionals and practices to support their patients’ access to care in a clean, safe, and healthy environment. We are looking forward to growing our partnership with Williamson Medical Center, Snodgrass-King Dental, and Regenerative Solutions and Orthopedics – some of the area’s most respected healthcare providers.”
Leading the acquisition process was Albert Lord, Investment Manager with Anchor. Mr. Lord noted, “Strategically building on our existing presence in the Nashville area, we are thrilled to add these assets to our portfolio and help support the medical provider tenancy serve the surrounding area with best-in-class healthcare services. As patients increasingly seek high-quality services that are convenient to where they live, the Spring Hill and Aspen Grove Medical Plazas fulfill this need.”
CBRE’s U.S. Healthcare & Life Sciences Capital Markets team of Lee Asher, Chris Bodnar, Jordan Selbiger and Ryan Lindsley provided sales advisory services on behalf of the Seller. Capital One provided debt financing. As the new owner of the facility, Anchor Health Properties will provide go forward asset, and property management services at these locations.
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.
About Harrison Street
Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets. Since inception in 2005, the firm has created a series of differentiated investment solutions focused on demographic-driven, needs-based assets. The firm has invested across senior housing, student housing, healthcare delivery, life sciences and storage real estate as well as social and utility infrastructure. Headquartered in Chicago with offices in San Francisco, London and Toronto, the firm has more than 200-employees and approximately $39 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe, Middle East, Asia and Latin America. Harrison Street has been awarded Best Places to Work by Pensions & Investments for the last seven consecutive years and was named 2020 Global Alternatives Investor of the Year by PERE. For more information, please visit www.harrisonst.com.
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Contact: Rachael Hall, Anchor Health Properties
rhall@anchorhealthproperties.com; 434-293-8004
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