FLAGSHIP HEALTHCARE TRUST ACQUIRES MEDICAL OFFICE BUILDING IN FAYETTEVILLE, GA

CHARLOTTE, NC. (December 16, 2021)Flagship Healthcare Trust, a Charlotte-based outpatient healthcare real estate investment trust (REIT), has acquired Prestige Park, a Class A, 94% leased medical office building (MOB) in Fayetteville, GA.

The 40,000 square foot MOB is located at 874 West Lanier Ave and is an outpatient healthcare destination with multiple specialists in plastic surgery, pain management, vein care, oral and maxillofacial surgery and other disciplines including multiple outpatient surgery centers.

Prestige Park is located in the rapidly expanding healthcare hub of Fayette County and near the 282-bed Piedmont Fayette Hospital. It is one of three properties the REIT has acquired in Georgia and its first in Fayette County.

“The tremendous growth of Atlanta’s southside and particularly, Fayette County, within the last 7-8 years was a big draw for us,” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “We were also enamored with the synergistic mix of tenants along with multiple surgery centers that call Prestige Park home.”

The team at First Horizon Bank, led by Paul Shipley, provided financing for the acquisition.