Anchor Health Grows Charlotte Presence With $50M Buy
- Nov 06, 2020
Anchor Health Properties has acquired three medical office buildings totaling 100,000 square feet in Charlotte, N.C., for roughly $50 million. Teaming up with existing institutional equity partners, the company purchased the fully leased, Class A assets in off-market deals. Synovus Bank provided financing for two of the acquisitions. Novant Health anchors all three facilities, which are located at 325 Hawthorne Lane, 13557 Steelecroft Parkway and 4741 Randolph Road.
The three-story, 36,000-square-foot building at Hawthorne Lane is on the campus of Novant Health Presbyterian Medical Center. The 2016-built facility features primary and specialty services such as urology, bariatrics and OBGYN. The asset was acquired in an all-cash transaction from Hale Partnership Capital Management, according to Yardi Matrix data.
Delivered in 2008, the Steelecroft Parkway facility last traded in 2019 for $12.7 million, Yardi Matrix shows. The two-story, 34,000-square-foot building houses a diverse mix of tenants providing imaging, gastroenterology, pediatric, women’s health and dentistry services, among others.
The third structure is a 27,000-square-foot, recently constructed building in Cotswold, about 5 miles south of Uptown Charlotte. The property provides orthopedics, sports medicine and dentistry services. Novant Health opened a 13,000-square-foot clinic on-site in February.
During the past month, Anchor Health completed several medical office acquisitions across the U.S. October deals included a two-building, 78,690-square-foot portfolio in Germantown, Tenn., and another two-building, 42,857-square-foot property in Temecula, Calif.