FOR IMMEDIATE RELEASE
December 19, 2022
(Portland, OR) Continuing to target the Pacific Northwest as a key investment market, Anchor Health Properties (Anchor), a national, full service healthcare real estate development, management, and investment company focused exclusively on medical facilities, recently closed on a 19,916 square foot Class A medical office building in the Clackamas submarket of Portland, Oregon. Strategically located at 9280 SE Sunnybrook Boulevard, the off market transaction was acquired through Anchor’s discretionary equity fund, Chestnut Healthcare Fund II, co-managed with Chestnut Funds. The MOB was originally constructed in 2009.
Featuring close proximity to Providence Milwaukie Hospital, a 77 bed hospital serving primarily northern Clackamas County, and Providence Willamette Falls Medical Center, a 143 bed not for profit acute care hospital, the 100% occupied facility is anchored by Clackamas Radiation Oncology Center, a joint venture between Providence Health (Fitch A+), one of the top health systems in the Portland MSA, and The Oregon Clinic division of Radiation Oncology. Located on the first floor of the facility, the Clackamas Radiation Oncology Center is an original tenant of the building and features a linear particle accelerator used for precision treatment of cancerous tumors, including brain, gastrointestinal system, and lung, among others.
“Acquiring this prime MOB in an off market fashion during this downturn in the markets is a testament to our investment team’s perseverance, ability to leverage industry relationships, and our intimate understanding of creative financial solutions,” shared James Schmid, Chief Investment Officer and Managing Partner with Anchor. “We continue to focus on the Pacific Northwest, and specifically the Portland MSA as one of our target investment markets. As we look to the end of the year and future investments, our knowledge of the area and our ability to execute on solid off market transactions will provide the opportunity to expand our existing footprint and grow our local operations.”
Complementary original, long term tenancy includes Providence Health and Services, a not for profit Catholic healthcare system operating multiple hospital across seven states, Cancer Institute & Breast Surgery Clinic providing comprehensive cancer treatment, and Mt. Scott ENT & Sleep Medicine, a comprehensive otolaryngology practice offering medical or surgical relief for facial, ear, nose and throat issues.
Leading the acquisition process was Elliott Sellers, Vice President of Investment, and Robert Rumer, Investment Associate. Sellers, who sourced the off market investment, added, “We are proud to support Providence’s operations in the market by acquiring a strategic medical office building critical to their outpatient network. This investment required working directly with Providence’s leadership team to develop a transaction structure that worked for both sides. We look forward to building a long term partnership with Providence in the coming months and years.”
Garth Hogan, Executive Managing Director with Newmark and Mark Schuessler, Executive Vice President with Colliers represented Providence Health as the seller on this transaction. Synovus Bank provided debt financing for the project. As the new owner of this facility, Anchor Health Properties will provide go forward property and asset management services at this location.
About Anchor Health Properties
Anchor Health Properties is a national, full-service healthcare real estate development, management, and investment firm serving investors and health systems. Leveraging our collective experience and resources, our nimble, and thoughtful team of professionals develop and deliver tailored, client-specific solutions to respond to today’s healthcare challenges – thinking outside the “medical office box.” With more than $1.5B of completed development projects, 9M square feet under management, and nearly $3B invested in stabilized healthcare facilities, Anchor continues to create a better healthcare experience for patients and a competitive edge for our clients. Anchor maintains multiple offices nationwide and features more than 100 professionals in its ranks. Healthcare today calls not only for new and more efficient ways of delivering healthcare services, but also a different kind of healthcare real estate company. For more information, please visit: www.anchorhealthproperties.com.
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Contact: Rachael Hall, Anchor Health Properties
rhall@anchorhealthproperties.com; 434-293-8004
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