Anchor Health Properties announced on October 19 that it acquired a medical office building in Johns Creek, Georgia. Terms of the deal were not disclosed.
Completed in 1998, the Class A, 96,357-square-foot, four-story property is a former commercial office building that will be fully converted to medical office space. The property is 30 miles from Atlanta and one mile from Emory Johns Creek Hospital.
The building was purchased in an off-market execution via a joint venture with Chestnut Healthcare Fund II, an equity fund Anchor co-manages with Chestnut Funds, and funds managed by global investment firm Carlyle. The seller was a private entity formed by six of the property’s tenants. Capital One provided debt financing for the acquisition. As the new owner of the facility, Anchor Health Properties will provide management and leasing services. The asset previously changed hands in 2019 when it was bought for $11 million.
According to the LevinPro HC database, the transaction was the 176th Medical Office Building deal of the year. This compares with 105 Medical Office Building deals recorded between January 1, 2021, and October 20, 2021.
