FLAGSHIP HEALTHCARE TRUST ACQUIRES PROPERTY IN WEST COLUMBIA, SC

CHARLOTTE, NC. (January 06, 2022)Flagship Healthcare Trust, a Charlotte-based outpatient healthcare real estate investment trust (REIT), has acquired Class A, 100% leased medical office building (MOB) located in West Columbia, SC.

Ideally located on Sunset Boulevard and less than a mile from the 485-bed Lexington Medical Center, Palmetto Infusion is also a block away from the award-winning River Street redevelopment project, within five miles of downtown Columbia, and the main campus of the University of South Carolina.  Palmetto Infusion has become the trusted service provider for ambulatory and home-based acute and chronic-care diseases, treating over 8,000 patients in 2020, within 25 clinics in North and South Carolina, Georgia, and Alabama.

“The flourishing economy, excellent quality of life, and soaring healthcare sector in the Southeast region provides an excellent opportunity for us to expand our existing relationships, especially with a strong partner like Palmetto Infusion.” said Flagship’s Executive Vice President of Acquisitions Gerald Quattlebaum. “It’s been fun to watch the growth of Palmetto Infusion throughout the Southeast and we are happy to partner with them and support them in any capacity we can.”

The team at Fifth Third Bank, led by Michael Perillo, provided financing for the acquisition of this off-market transaction. Flagship Healthcare Properties will continue to provide property management services at this location.