Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, is pleased to announce the acquisition of a Class A medical office building (MOB) portfolio in Montgomery, Alabama and Prattville, Alabama.
The properties were acquired from Oral & Maxillofacial Surgery Associates (OMSA) who will continue to occupy both properties under long-term leases. OMSA was formed over 30 years ago and has grown to one of the largest specialty groups in the state with an estimated 70% market share in the greater Montgomery area. Between the two MOBs, there is a combined 10 operating suites, three procedure rooms, four X-ray rooms, eight exam rooms and a pathology lab.
“We couldn't be happier to partner with this dynamic group of physicians and expand our presence in Alabama,” says Gerald Quattlebaum, executive vice president of acquisitions. “These physicians represent best-in-class and are the dominant, market leaders in the capital city. We look forward to supporting Oral & Maxillofacial Surgery Associates as they continue to grow to meet the needs of the patients in the greater Montgomery area.”
Flagship acquired the MOBs through its private real estate investment trust, Flagship Healthcare Trust, Inc. (Flagship REIT). As the new owner of the buildings, Flagship will provide property management and asset management services.
The transaction was brokered by Josh Randolph of Colliers International out of Birmingham, Alabama. Financing for the acquisition was provided by United Bank.
For more information about Flagship Healthcare Properties, visit www.FlagshipHP.com. For more information about Flagship Healthcare Trust, visit www.FlagshipREIT.com.
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 4.3 million square feet of healthcare real estate across more than 165 properties serving in excess of 465 tenants. The firm has developed or acquired over 80 properties valued at more than $675 million. Flagship serves as the manager of its private REIT, Flagship Healthcare Trust, Inc.
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 59 healthcare properties valued at over $460 million. Flagship REIT’s current portfolio includes more than 1.6 million square feet of medical office space and approximately 190 tenants. For more information, visit www.FlagshipREIT.com.
