FLAGSHIP HEALTHCARE TRUST ACQUIRES SURGERY CENTER IN WILMINGTON, NC

Wilmington SurgCare is ideally located near New Hanover Regional Medical Center

CHARLOTTE, N.C. (September 29, 2021)Flagship Healthcare Trust, a Charlotte-based outpatient healthcare real estate investment trust (REIT), has acquired a Class A ambulatory surgery center (ASC) in Wilmington, North Carolina.

Located at 1801 South 17th Street, the facility is fully leased by Wilmington SurgCare, a joint-venture partnership between Surgery Partners and local physician partners. The 24,757-square-foot ASC operates under a Certificate of Need (CON) and is well-positioned in close proximity to New Hanover Regional Medical Center (NHRMC), the largest hospital in Wilmington.

A leading operator of surgical facilities and supporting services, Nashville, Tennessee-based Surgery Partners has more than 180 locations nationwide. Wilmington SurgCare is a multi-specialty surgery center containing seven operating rooms with a focus on 16 specialties and procedures and over 100 providers.

“We’re eager and excited to take part in the growth of Wilmington’s dynamic healthcare sector and greater New Hanover County,” said Gerald Quattlebaum, Flagship’s executive vice president of acquisitions. “We look forward to partnering with Wilmington SurgCare as it seeks ways to better serve the growing community.”

Thomas Maloy, M.D., and President of WSC Properties, Inc., said, “It was an easy decision to work with Flagship. Their team is experienced, genuine, and very professional. Flagship really knows surgery center real estate, and the whole process was smooth and efficient.”

“We are excited about acquiring this high-quality surgery center in a growing market anchored by trusted providers and a national ASC operator, in partnership, as our long-term tenant,” said Blake Bratcher, Flagship’s executive vice president of ambulatory surgery centers.  “Ambulatory surgery centers are at the forefront of transformation in health care delivery, and we are continuing to capitalize on new opportunities in alignment with physicians and surgery center operators to help them maximize their real estate so they can carry out their mission more effectively.”

Fifth Third Bank, led by Michael Perillo, provided financing to acquire the Wilmington ASC.