Flagship Healthcare Properties Completes Acquisition in Raleigh, N.C. Metro Area

Flagship Healthcare Trust, Inc. acquires medical office building in Knightdale, NC

CHARLOTTE, NC – May 15, 2019 – Flagship Healthcare Trust, Inc., Flagship Healthcare Properties’ private REIT, has announced its acquisition of a 14,456-square-foot medical office building (“MOB”) located in Knightdale, N.C., a suburb of Raleigh. Along with the acquisition, Flagship will provide property and asset management services, as well as accounting and lease administration.

The majority of the building is occupied by UNC Family Practice, a UNC Health Care affiliate. Other tenants include Pivot Physical Therapy and Vardy Chiropractic.

“We are very pleased to acquire this UNC Health Care anchored building and to continue our strong relationship with them,” said Gerald Quattlebaum, Senior Vice President of Acquisitions at Flagship. “They have recently completed an expansion at this location to meet their growing needs in the Raleigh market, and we look forward to working closely with them going forward.”

In conjunction with the recent expansions, the common areas of the building have recently been renovated along with upgraded finishes to UNC Family Practice’s and Pivot Physical Therapy’s offices.

Capital Bank, a member of the First Horizon family of companies, provided financing for the transaction.