Flagship Healthcare Trust Makes Acquisition in Alabama

TUSCALOOSA, AL – October 31, 2018 –  Flagship Healthcare Properties (“Flagship”), manager of the private REIT Flagship Healthcare Trust, Inc. (“Flagship REIT”), announced today that the REIT has acquired a Class A ambulatory surgery center (“ASC”) & medical office building (“MOB”) in Tuscaloosa, Alabama.

Located at 1400-1406 McFarland Boulevard North, the roughly 20,000 square foot ASC features 5 operating rooms and 7 procedure rooms, and was acquired along with the attached 18,941 square foot MOB. Developed and owned by a group of physicians, the Tuscaloosa Surgical Center was the area’s first free-standing, outpatient surgical center. The property is anchored by the ASC in partnership with Surgical Care Affiliates (“SCA”), one of the nation’s largest operators of outpatient surgical centers in the country.

“Our physician partners are extremely pleased to announce the acquisition of The Tuscaloosa Surgical Center campus by Flagship Healthcare Properties. We are excited about the expertise, resources, and energy that the Flagship group brings, and we are confident that this new partnership will secure the legacy of excellence that has been established on our campus over the past 30 years.” commented Dr. James Poist, lead representative of the selling partners.

“With our continued growth we are always seeking new opportunities in new markets and so we are truly excited to complete this acquisition. Tuscaloosa, like many university markets, is experiencing unprecedented growth, not just from student and faculty populations, but from retirees as well.  Coupled with the Mercedes Benz plant, the area is a thriving economy. The Tuscaloosa Surgery Center and attached medical office building are ideally located to serve this growing patient population. We look forward to working closely with the physician leadership in the years ahead as we seek to further strengthen its position in the marketplace.” said Gerald Quattlebaum, Senior Vice President of Acquisitions with Flagship Healthcare Properties.

Flagship will provide asset management and property management services for the building.