Flagship Healthcare Expands VA Footprint with Newly-Built MOB
Flagship Healthcare Properties expanded its Virginia footprint with the acquisition of a 15,457-square-foot, newly-constructed medical office building in Prince George, just south of downtown Richmond. The Charlotte-based Flagship acquired the MOB for an undisclosed sum through its private REIT, Flagship Healthcare Trust.
The MOB is fully leased by Virginia Physicians for Women (VPFW), one of the largest independent OB-GYN practices in the Mid-Atlantic region with over 175 employees and more than 30 providers. As the new owner of the building, Flagship will provide asset management services.
“We have tremendous respect for VPFW as market leaders in women’s healthcare and appreciate the trust and confidence they have placed in us in supporting their continued growth,” said Gerald Quattlebaum, SVP of acquisitions at Flagship.
The transaction was brokered by Chris Rice, EVP of NAI Dominion. Financing was provided by the Charlotte office of TowneBank.
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