Flagship Healthcare Properties Announces its Private REIT, Flagship Healthcare Trust
CHARLOTTE, NORTH CAROLINA – May 9, 2018 – Flagship Healthcare Properties, LLC (“FHP”) is pleased to announce the launch of Flagship Healthcare Trust (“Flagship REIT”), a private Real Estate Investment Trust that owns clinical healthcare assets in the United States. Flagship REIT comes to market with interests in more than 30 healthcare properties and a market value over $250 million. Flagship REIT plans to aggressively grow its portfolio through adding core-plus, value-add, and development projects in support of, and in partnership with, healthcare providers, allowing them to focus their capital and resources to deliver the highest quality patient care. Flagship Healthcare Properties, LLC serves as Manager of Flagship REIT.
Led by industry veteran Charles Campbell, CEO and Co-Managing Partner, FHP is a fully integrated healthcare real estate firm headquartered in Charlotte, NC. FHP is committed to understanding its clients’ goals and establishing long-term, mutually beneficial relationships by providing healthcare properties and services that meet the unique needs of health systems and physicians.
Campbell remarked, “The formation of Flagship REIT provides a greater alignment of interests and objectives with our investment partners, our tenants, and our employees.” He added, “I am proud of the mandate that was given to us by our existing investors who elected to contribute their legacy investment interests into the Flagship REIT. It is testimony to the hard work and dedication of the team here at FHP, and we will carry that mandate forward as we grow Flagship REIT.” The REIT’s formation was primarily the result of the conversion of FHP’s prior closed-end funds. More than 90% of these legacy fund investors elected to convert their ownership into the REIT.