Charlotte, NC – August 3, 2022 – Anchor Group, a leading, international business development and investment firm, has facilitated the first investment by a Gulf Cooperation Council (GCC) firm into Flagship Healthcare Trust, a Southeastern and Mid-Atlantic focused medical office private real estate investment trust (REIT) with over 2.3 million square feet of office space and 87 properties. The GCC is a political and economic union of Arab states bordering the Persian Gulf. Its members include the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain.
The investment, made by the private banking arm of one of the top GCC banks, represents the first multimillion investment from the region in the REIT and is earmarked to support continued growth in the portfolio. Flagship established a Shariah-compliant fund structure to accommodate GCC investment into the REIT. International investors can now invest in Flagship’s REIT directly, via a tax-efficient blocker structure, or through its Shariah-compliant fund.
Demand for medical office buildings is expected to rise as healthcare spending in the United States escalates and as the U.S. population continues to age. In the fourth quarter of 2021 alone, Flagship acquired 10 properties in growing areas such as Chattanooga, TN, Louisville, KY, and Columbia, SC. In first quarter 2022, Flagship then completed the acquisition of two wholly owned properties in North Carolina totaling 63k square feet, in addition to an ambulatory surgery center (ASC) in Tennessee totaling 14k square feet.
“While Flagship’s market for investment is laser-focused on the Southeast and Mid-Atlantic, the investment facilitated by Anchor Group demonstrates that our appeal to investors is global. The desire for current income, capital appreciation, and non-correlated alternative investment opportunities is not limited to the United States. Our leadership team has an unparalleled knowledge and deep connections within the Southeastern and Mid-Atlantic healthcare systems”, said President and CEO of Flagship J. Brannen Edge III. “We are thrilled to welcome our new investors and are excited for the wonderful opportunities this will provide for our REIT in 2022 and beyond.”