FLAGSHIP HEALTHCARE TRUST ACQUIRES PROPERTY HOME TO AREA’S LARGEST GASTROENTEROLOGY GROUP

CHARLOTTE, N.C. — Flagship Healthcare Properties (Flagship), an outpatient healthcare real estate firm, is pleased to announce the acquisition of a Class A, 100% leased medical office building (MOB) in New Albany, Indiana.

The single-tenant, 20,544-square-foot property is occupied by the Gastroenterology Health Partners’ New Albany location, Gastroenterology of Southern Indiana. The clinic is a part of the region’s top gastroenterology group that offers a wide array of comprehensive specialty care. The property is well-positioned near the area’s major hospital system, Baptist Health, with easy access to the Interstate 265 and Interstate 64 interchange.

New Albany is an affluent suburb of Louisville, Kentucky that sits on the opposite side of the Ohio River from the downtown area. The Louisville metropolitan area is a central location for economic development with major employers representing several industries. Due to its proximity to the major city and ongoing growth, New Albany was named one of Floyd County’s Best Places to Live.

“Louisville is the surrounding area’s nexus for many sectors including healthcare. The property was attractive to us due to the prosperity of the suburb and its overall high quality of life,” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “We are excited to be partnering with the physicians at Gastroenterology of Southern Indiana in this acquisition as well as providing them with asset and property management services to support their mission of providing the highest quality care to its patients.”

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