Flagship Healthcare Properties Announces Acquisition in Hickory, North Carolina

January 3, 2020

Flagship Healthcare Properties (Flagship) announces the addition of a 45,390-square-foot, Class A medical office building and ambulatory surgery center (ASC) to its private real estate investment trust portfolio. Located at 214 18th Street SE in Hickory, N.C., and fronting Tate Boulevard SE, the building is fully leased by OrthoCarolina and Frye Surgery Center.

OrthoCarolina, one of the nation’s largest and most reputable orthopedic practices, leases 72%, or 32,522 square feet. Services and capabilities offered at OrthoCarolina include physical therapy, urgent care, mobile on-site MRI, foot and ankle pain, hand surgery, joint replacement, spine care, and physiatry and sports medicine.
The property is also home to Frye Surgery Center which leases 28%, or 12,868 square feet. The Frye Surgery Center operates as a department of Frye Regional Medical Center, part of Duke LifePoint Healthcare. Frye Regional Medical Center has served the health and medical needs of the residents of the Catawba Valley region since 1911, with a commitment to delivering high quality and compassionate care with a focus on patient satisfaction and clinical outcomes. The ASC offers an array of surgical services in four surgical suites, such as cardiothoracic, neurosurgery, vascular, oncology, oculoplasty, dental, orthopedic, ear nose and throat, plastic and reconstructive, urological, general, gynecology and podiatry.
Flagship acquired the facility in its private real estate investment trust, Flagship Healthcare Trust, Inc. (Flagship REIT). The property was acquired from a partnership consisting of Hunt Shuford, David Looper and the Broyhill family. A portion of the sellers’ equity was contributed via an UPREIT transaction on a tax-deferred basis to Flagship REIT.
“We are honored to be the real estate partner chosen by the sellers and warmly welcome these new investors to the Flagship REIT family,” added Charles Campbell, CEO and co-managing partner.

Flagship will work collaboratively with Mr. Shuford to provide property and asset management services.
Financing for this transaction was provided by First National Bank.

For more information about Flagship Healthcare Properties, visit www.flagshiphp.com


See the latest posts on our homepage


Topic Area: Press Release

Recent Posts
Recent Posts
Focus: HVAC

Seattle Children’s Hospital's mold issues spur class-action suit

Suit alleged hospital engaged in a coverup of problems


Focus: Infection Control

CDC: Flu case total nears 10 million

The flu has already killed 4,800 this season


Woman robbed, kidnapped from Louisiana hospital parking lot

Christus Shreveport-Bossier Health System said it will evaluate the safety of all of its campuses


Focus: Infection Control

Presence of pan-resistant C. auris growing in New York

A total of 427 of 911 nationwide confirmed cases are found in New York


Threats that could threaten disrupt security

Facilities managers must have resilience and security strategies to deal with disruptive new technologies


Post Comment


News & Updates • Webcast Alerts • Building Technologies

All fields are required.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.