Flagship Healthcare Properties Grows Portfolio with Acquisition in Georgia
BLUE RIDGE, GEORGIA – JUNE 20, 2018 – Flagship Healthcare Properties has made a new acquisition in the state of Georgia, acquiring for its private REIT portfolio the RiverStone Medical Campus (“RiverStone”) in Blue Ridge, 90 miles north of Atlanta. The Class A, ±75,000 square foot medical office building is located at 101 RiverStone Vista. RiverStone’s diverse tenants and services make the building a true multi-specialty regional medical complex.
Fully leased, the multi-tenant property is anchored by Fannin Regional Hospital’s physicians group. Fannin Regional Hospital is owned by Quorum Health (NYSE: QHC). Additional tenants include Northside Hospital’s Georgia Cancer Specialists, Amedisys, and Blue Ridge Dermatology.
“We are very pleased to have acquired RiverStone and be invested in beautiful Blue Ridge, Georgia “, said Russell Brown, Senior Vice President of Investments with Flagship Healthcare Properties. “RiverStone’s strong hospital-owned physician practice tenancy, wide variety of services, and superb location make this an excellent addition to our private REIT. Flagship is excited to partner with the providers at RiverStone with the shared goal of providing quality healthcare to the region.”
Ray Tidman, M.D., the developer of the property adds, “We were well pleased with the solutions Flagship Healthcare Properties presented to us, and are grateful to be placing our medical office building with new owners who are both committed to delivering quality healthcare and are well equipped to guide RiverStone Medical Campus into a bright and promising future.” Dr. Tidman will continue to practice medicine at the property and will remain actively involved in the building.
Flagship Healthcare Properties will provide property and asset management services for the building.