FOR IMMEDIATE RELEASE
November 25, 2024
Anchor Health Properties Acquires a 21,502 Square Foot, Class A Medical Outpatient Building through an Off-Market Transaction
(Atlanta, GA) Furthering the company’s nearly one million square foot owned and managed portfolio in the Atlanta MSA, Anchor Health Properties (Anchor), a national, full-service healthcare real estate development, management, and investment company focused exclusively on medical outpatient buildings and specialty healthcare facilities, recently closed on a two-story, 21,502 square foot Class A medical outpatient building in the high-growth City of Athens, Georgia. The asset was acquired through an off-market transaction via a joint venture with an institutional equity partner.
Strategically located at 695 Chase Street, the facility sits adjacent to Piedmont Athens Regional Medical Center, a 360-bed facility with a Level 2 Trauma Center. Built in 1965 and fully renovated in 2024, the outpatient building is 100% occupied by Piedmont Athens Regional Medical Center, a subsidiary of Piedmont Healthcare (Moody’s A1), one of the largest health systems in Georgia. The second of a two-phase outpatient development adjacent to the hospital campus, Piedmont recently expanded within the building to offer a full suite of orthopedic services at this location.
Anchor also serves as owner and landlord to the adjacent sister building, located at 1010 Prince Avenue, that is also fully occupied by Piedmont. The properties benefit from sharked parking as well as cross-referrals from the adjacent inpatient hospital campus.
“The Atlanta MSA, and by extension Athens, remains central to Anchor’s national investments strategy and ranks as the firm’s second largest market, with approximately one million square feet under management,” shared Elliott Sellers, Senior Vice President, Investments & Partner. “This off-market acquisition involved a prime outpatient facility that supports Piedmont Health’s growing presence in the region, on the heels of its recently completed expansion of the Athens Regional hospital. This is a location where Anchor has deep experience investing as one of the largest non-health system owners of medical outpatient buildings.”
The acquisition was led by Andrew Antognoli, Investments Manager with Anchor who added, “This state-of-the-art facility furthers our investment strategy of partnering with premier health systems and top healthcare providers as we continue to identify attractive acquisition opportunities to grow our owned and managed portfolio in the Atlanta MSA. Our strong relationship with Piedmont, coupled with their role as the official healthcare provider for the University of Georgia Athletics, and the dynamic growth and potential of the Athens community were major considerations in our decision to continue investing in the area.”
As the new owner of the facility, Anchor Health Properties will provide go forward asset and property management services to the joint venture for this investment.
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 $2B of completed development projects, 9M square feet under management, and $3.2B 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
Director of Marketing & Communication
Anchor Health Properties
P: 410-310-9824 | E: rhall@anchorhealthproperties.com
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