Flagship Healthcare Properties Expands Raleigh Portfolio with Acquisition

Healthcare real estate firm acquires ambulatory surgery center

CHARLOTTE, N.C. (Feb. 12, 2020) — Flagship Healthcare Properties (Flagship), a healthcare real estate firm, broadens its Raleigh, N.C. footprint with the acquisition of Blue Ridge Surgery Center. The 20,962-square-foot ambulatory surgery center is located at 2308 Wesvill Court on the Blue Ridge Medical Corridor in the heart of West Raleigh.

Built in 1994 on two acres, the outpatient surgical facility is easily accessible from Raleigh and Cary, N.C. via I-440 and is within walking distance to dining and shopping at The Marketplace of Lake Boone and Lake Boone Shopping Center. The property is located in close proximity to the 559-bed UNC Rex hospital.

“We are proud to be partners with some of the finest surgeons in the market along with Surgical Care Affiliates (SCA) who is one of the nation’s leading operators of ambulatory surgery centers in the country,” said Gerald Quattlebaum, senior vice president of acquisitions. “This also represents a rare opportunity in which we were able to acquire this state-of-the-art surgical facility which sits adjacent to a medical office building we already own and manage.”

Blue Ridge Surgery Center offers multidisciplinary services including anesthesiology, breast surgery, colorectal surgery, ear, nose and throat, otolaryngology, gynecology, orthopedic surgery, pain management, plastic surgery, podiatry, spinal surgery and urology.

Flagship acquired the property through its private real estate investment trust, Flagship Healthcare Trust, Inc. (Flagship REIT). As the new owner of the building, Flagship will provide asset management services.

Jed Byrne from Capital Associates represented the seller.