Virginia-based healthcare real estate firm Anchor Health Properties has closed on a 20,000-square-foot, Class A medical office building (MOB) in the Portland, OR submarket of Clackamas, OR. The asset, constructed in 2009, was acquired through the firm’s Chestnut Healthcare Fund II. Terms of the deal were not disclosed.

The 100% occupied facility is anchored by Clackamas Radiation Oncology Center, an original tenant of the building. It is situated in close proximity to both Providence Milwaukie Hospital and Providence Willamette Falls Medical Center.

“Acquiring this prime MOB in an off-market fashion is a testament to our investment team’s perseverance, ability to leverage industry relationships, and our intimate understanding of creative financial solutions. We continue to focus on the Pacific Northwest, and specifically the Portland MSA as one of our target investment markets,” said Anchor CIO James Schmid.

Newmark’s Garth Hogan and Colliers’ Mark Schuessler represented the seller, Providence Health in the transaction and debt financing was provided by Synovus Bank.