Flagship Healthcare Properties announced that it has acquired a Class A, medical office building (MOB) in Chapel Hill, North Carolina through its private real estate investment fund, Flagship Healthcare Trust.
The 20,878-square-foot MOB was originally built in 2003, and the building is anchored by Chapel Hill Pediatrics, Chapel Hill Pediatric Psychology and Chapel Hill Pediatric Dentistry. The property is located near the combined 1,048-bed Duke University Hospital and Duke Regional Hospital and 900-bed UNC Medical Center.
Flagship Healthcare Properties is an outpatient healthcare real estate firm serving clients in the southern 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 will provide property management and asset management services for the MOB. Financing was provided by Fifth Third Bank. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this represents the 173rd MOB transaction of 2023, as well as Flagship’s fifth MOB acquisition of the year. Just earlier this month, Flagship acquired a 38,786-square-foot MOB in Fredericksburg, Virginia. The company has also acquired properties in South Carolina, Tennessee and Florida.
