The Flagship Healthcare Real Estate Fund acquired this state-of-the-art, ± 7,341 square foot facility in December 2015. Central Piedmont Surgery Center, the building’s sole tenant, is a wholly owned operation of Randolph Hospital. The center has two operating rooms (ORs) and is equipped to handle procedures for general surgery, orthopedics, otolaryngology, urology, podiatry, ophthalmology and gynecology.

Designed and built four years prior to acquisition, the HVAC system was creating excessive humidity and was running inefficiently, thereby generating excessive energy bills and causing surgery cancellations and lost patient revenue.

During due diligence, Flagship observed the system and met with Randolph to better understand their issues. Randolph waived its right to acquire the property, placing its trust and confidence in Flagship to help them address its issues. Upon closing, Flagship’s property management team worked expeditiously with a team of engineers to identify, price and recommend a set of alternatives that would meet Randolph Hospital’s strict OR specifications and create a reliable and efficient operating environment.