SUMMARY

In late 2013, Flagship Healthcare Real Estate Fund acquired Swain Medical Park, an 11,160 square foot medical office building. The property is located adjacent to Swain Medical Center in Bryson City, North Carolina and is 100% leased by Swain Community Hospital.

CHALLENGES

• As capital allocation became increasingly important, the hospital was forced to prioritize various strategic initiatives, including repurposing space once occupied by a pharmacy for additional outpatient services.

SOLUTIONS

• Grasping the client’s longer term needs and goals, Brackett Flagship Properties proposed to restructure the lease and fund the renovations to repurpose the unused space to accommodate a new specialty practice.
• The hospital’s capital was preserved for a host of planned patient-centric initiatives introduced when Duke LifePoint acquired the hospital shortly after Brackett Flagship Properties’ purchase of the property.