Flagship Healthcare Real Estate Fund acquires Triangle Medical Center in Cary, NC
Cary, North Carolina – Flagship Healthcare Real Estate Fund is pleased to announce its acquisition of Triangle Medical Center, a three-story, 29,000 square-foot medical office building in the vibrant Cary, North Carolina market. This is the tenth investment for the Fund.
Charlotte-based Brackett Flagship Properties will provide asset and property management as well as leasing services for the building and its tenants.
Triangle Medical Center was originally developed by the anchor tenant, North Carolina Center for Reproductive Medicine. The building’s other tenants include Care Pediatrics, Friendship Medical Center, Triangle Kidney Associates, Western Wake Eye Center and Flexogenix. The property is less than a mile from WakeMed Cary Hospital and close to Cary’s premier open air shopping center, Waverly Place. The town of Cary is located west of Raleigh, which was named the 2nd fastest growing city in the U.S. in 2014 by Forbes magazine based on population and economic growth.
“Triangle Medical Center is an exciting opportunity to expand within the growing Raleigh-Durham market,” said Russell Brown, Vice President of Investments at Brackett Flagship Properties. “We look forward to working with and supporting our strong group of providers in Triangle Medical Center, while seeking to maximize the asset’s value for our Flagship Healthcare Real Estate Fund investors.”
Brackett Flagship Properties, LLC and its legacy companies, Diane Brackett Company and Flagship Capital Partners, have over forty years of combined experience in healthcare real estate. Brackett Flagship Properties provides its health system and physician partners with a full range of real estate services including acquisitions, development, management and leasing. The company currently manages more than 60 properties totaling more than 1.7 million square feet in five states across the southeastern US. For more information visit our website at www.flagshiphp.com.
The Flagship Healthcare Real Estate Fund invests in high quality, income-producing healthcare real estate in the Southeastern United States.