Property is home to two premier medical clinics
CHARLOTTE, N.C., Dec. 21, 2022 — Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, has acquired a fully-leased, Class A medical office building (MOB) in Memphis, Tennessee.
The 26,913-square-foot property is located at 1727 Kirby Parkway and was originally built in 1984 but fully renovated in 2017. The MOB is 100% leased to Adams Patterson Gynecology & Obstetrics and The Prevention Group, a physical health and wellness clinic. The property is a part of the region’s medical corridor and is proximate to the 700-bed Baptist Memorial Hospital and 479-bed Saint Francis Hospital. The medical office provides easy access to Highway 72, near Interstates 240 and I-40.
Memphis’ leading industry is healthcare with nine major hospital systems in the area. Several colleges, universities and technical training institutes help to provide a talented workforce in the metropolitan area.
“Located adjacent to the highly desirable area of Germantown was a huge factor in our decision to pursue this property,” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “We will provide the real estate services our tenants want and need to excel in order to deliver high quality care for their patients.”
Flagship acquired the MOB through its private real estate investment trust, Flagship Healthcare Trust (Flagship REIT). Flagship will also provide property management and asset management services for the MOB.
Paul Zeman with Bull Realty represented the seller.
About Flagship Healthcare Properties
Flagship Healthcare Properties, LLC (Flagship) is a fully-integrated outpatient healthcare real estate firm serving clients throughout the Southeastern and Southern Mid-Atlantic United States. 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 5.3 million square feet of healthcare real estate in over 240 properties serving more than 580 tenants. Flagship serves as the manager of its private REIT, Flagship Healthcare Trust, Inc. For further information, visit www.FlagshipHP.com.
About Flagship Healthcare Trust
Flagship Healthcare Trust, Inc. (Flagship REIT), is a private real estate investment trust that owns clinical healthcare assets in the United States. Flagship REIT holds interest in more than 93 healthcare properties valued at over $906 million. Flagship REIT’s current portfolio includes 2.48 million square feet of medical office space and 300 tenants. For further information, visit www.FlagshipREIT.com.
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