Funding to Support Ongoing Growth in REIT Portfolio
CHARLOTTE, N.C., Aug. 5, 2022 /PRNewswire/ — Anchor Group, a leading, international business development and investment firm, has facilitated the first investment by a Gulf Cooperation Council (GCC) firm into Flagship Healthcare Trust, a Southeastern and Mid-Atlantic focused medical office private real estate investment trust (REIT) with over 2.3 million square feet of office space and 87 properties. The GCC is a political and economic union of Arab states bordering the Persian Gulf. Its members include the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain.
The investment, made by the private banking arm of one of the top GCC banks, represents the first multimillion investment from the region in the REIT and is earmarked to support continued growth in the portfolio. Flagship established a Shariah-compliant fund structure to accommodate GCC investment into the REIT. International investors can now invest in Flagship’s REIT directly, via a tax-efficient blocker structure, or through its Shariah-compliant fund.
Demand for medical office buildings is expected to rise as healthcare spending in the United States escalates and as the U.S. population continues to age. In the fourth quarter of 2021 alone, Flagship acquired 10 properties in growing areas such as Chattanooga, TN, Louisville, KY, and Columbia, SC. In first quarter 2022, Flagship then completed the acquisition of two wholly owned properties in North Carolina totaling 63k square feet, in addition to an ambulatory surgery center (ASC) in Tennessee totaling 14k square feet.
“While Flagship’s market for investment is laser-focused on the Southeast and Mid-Atlantic, the investment facilitated by Anchor Group demonstrates that our appeal to investors is global. The desire for current income, capital appreciation, and non-correlated alternative investment opportunities is not limited to the United States. Our leadership team has an unparalleled knowledge and deep connections within the Southeastern and Mid-Atlantic healthcare systems”, said President and CEO of Flagship J. Brannen Edge III. “We are thrilled to welcome our new investors and are excited for the wonderful opportunities this will provide for our REIT in 2022 and beyond.”
Anchor International Investments is a leading independent fund distributor based in Switzerland, identifying non-core asset managers on behalf of institutional investors and a longstanding partner to asset managers seeking to establish and grow an investor base within Switzerland and beyond. Founded in 2007, the Anchor Group has been a partner for growth, internationalization, and innovation. Anchor’s main activities cover capital raising, cross-border corporate development, as well as corporate venturing and direct investments.
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 5.1 million square feet of healthcare real estate in over 220 properties serving more than 530 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 87 healthcare properties valued at over $7.43 million. Flagship REIT’s current portfolio includes more than 2.3 million square feet of medical office space and more than 254 tenants. For further information, visit www.FlagshipREIT.com.
SOURCE Flagship Healthcare Properties, LLC