Flagship Healthcare Properties Expands Private REIT Portfolio with Charlotte Acquisition

Healthcare real estate firm acquires surgery center

CHARLOTTE, N.C. (April 2, 2020) — Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, expands its Charlotte, North Carolina portfolio with the acquisition of the Charlotte Surgery Center – Museum Campus. The 19,767 square foot ambulatory surgery center (ASC) is located at 2825 Randolph Road, less than 10 minutes from Uptown Charlotte and the Myers Park and Cotswold neighborhoods.

The ASC was originally built in 1984, and was most recently expanded and renovated in 2019. The Charlotte Surgery Center practice was formed 35 years ago and has grown to include general surgery, gynecology, ophthalmology, orthopedic, plastic, podiatry, and urology practices, with over 50 surgeons and physicians. Surgical Care Affiliates (SCA) is the manager of Charlotte Surgery Center. A leader in the outpatient surgery industry, SCA strategically partners with health plans, medical groups and health systems across the country to develop and optimize surgical facilities. SCA operates more than 210 surgical facilities in partnership with approximately 7,500 physicians.

“We are grateful for the opportunity to once again team with Surgical Care Affiliates and their outstanding surgeon partners,” said Gerald Quattlebaum, senior vice president of acquisitions at Flagship. “The recently completed renovation and expansion will allow these physicians to meet the growing demand for outpatient surgery in the heart of Charlotte”.

Flagship acquired the property through its private real estate investment trust, Flagship Healthcare Trust, Inc. Flagship will provide asset and property management services

Tiffany Slayden represented Flagship in this transaction. Financing was provided by First National Bank.