AEW Capital Management, Flagship Healthcare Trust Acquire $80M Portfolio of ASCs

AEW Capital Management L.P., and Flagship Healthcare Trust, a Charlotte, NC-based healthcare real estate investment trust, have formed a joint venture and acquired eight ambulatory surgery centers across seven states in a series of successive transactions valued at more than $80 million.

Flagship Healthcare Properties will provide property management and asset management services for the portfolio. The acquisitions were financed by Fifth Third Bank.

The portfolio includes 145,561 square feet of ASC and related medical office space in AZ, FL, IL, MI, MO and TN and features long-term leases to high quality providers and partnerships with national surgery center operators and health systems.

“With AEW’s experience in the healthcare real estate sector, we believe our strategic partnership will significantly increase our reach and capacity to deliver ASC real estate solutions to physician groups, operators and health systems,” said Flagship Healthcare Properties CEO J. Brannen Edge III.