Funding to support the continued growth of the REIT portfolio
CHARLOTTE, NC, August 5, 2022 /PRNewswire/ — Anchor Group, a leading international business development and investment firm, has facilitated the first investment by a Gulf Cooperation Council (GCC) firm in Flagship Healthcare Trust, a private real estate investment focused on medical offices in the Southeast and Mid-Atlantic 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 United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain.
The investment, made by the private banking arm of one of the GCC’s top banks, represents the region’s first multi-million dollar investment in a REIT and is designed to support the continued growth of the portfolio. Flagship created a Shariah-compliant fund structure to accommodate GCC investments in REITs. International investors can now invest in Flagship’s REIT directly, through a tax-efficient block structure or through its Shariah-compliant fund.
Demand for medical office buildings is expected to increase with healthcare costs United States is also escalating as the US population continues to age. In the fourth quarter of 2021 alone, Flagship acquired 10 properties in growing areas such as Chattanooga, Tennessee, Louisville, Kentuckyand Columbia, South Carolina. In the first quarter of 2022, Flagship completed the acquisition of two wholly owned properties in North Carolina total 63k square feet, in addition to an ambulatory surgery center (ASC) in Tennessee total 14k square feet.
“While Flagship’s investment market is laser-focused on the Southeast and Mid-Atlantic, the investment facilitated by Anchor Group demonstrates that our investor appeal is global. Desire for current income, capital appreciation and uncorrelated alternative investment opportunities is not limited to United States. Our leadership team has unparalleled knowledge and deep connections within the Southeast and Mid-Atlantic healthcare systems,” said Flagship President and CEO J. The Fiery End III. “We are excited to welcome our new investors and are excited about the wonderful opportunities this will bring to our REIT in 2022 and beyond.”
Anchor International Investments is a leading independent fund distributor based in Switzerlandidentification of non-core asset managers on behalf of institutional investors and a long-standing partner of asset managers seeking to establish and grow an investor base in Switzerland and beyond. Founded in 2007, Anchor Group is a partner for growth, internationalization and innovation. Anchor’s core activities cover capital raising, cross-border corporate development, as well as corporate venture and direct investment.
About Flagship Healthcare Properties
Flagship Healthcare Properties, LLC (Flagship) is a fully integrated ambulatory healthcare real estate firm serving clients in the Southeastern and Southern Mid-Atlantic United States. Headquarters in Charlotte, North Carolina, Flagship offers a full range of real estate services, including investment and capital solutions, development, property sales, leasing and marketing, as well as facilities, property and asset management. Flagship manages over 5.1 million square feet of healthcare real estate in over 220 properties serving more than 530 tenants. Flagship serves as manager of its private REIT, Flagship Healthcare Trust, Inc. For additional information, visit www.FlagshipHP.com.
About Flagship Healthcare Trust
Flagship Healthcare Trust, Inc. (Flagship REIT) is a private real estate investment trust that owns clinical healthcare assets in United States. Flagship REIT owns interest in more than 87 healthcare properties valued at over $7.43 million. Flagship REIT’s current portfolio includes more than 2.3 million square feet of medical office space and more than 254 tenants. For additional information, visit www.FlagshipREIT.com.
SOURCE Flagship Healthcare Properties, LLC