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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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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