Charlotte, NC
CHARLOTTE, NC—Local companies Flagship Healthcare Properties and Faison Enterprises partnered on the acquisition of a 121,741-square-foot portfolio featuring six Class A medical office buildings in the Charlotte metro area.
The buyers purchased the portfolio from CFM Medical Properties. The sale price was not disclosed.
Three of the buildings are in Concord, NC, with the remaining three in Kannapolis, China Grove and Locust.
The portfolio, which is 91% occupied, is anchored by Cabarrus Family Medicine, part of Atrium Health. The network of family practices and its sub-specialty offices, including sports medicine, orthopedics and rehabilitation, leases more than 75% of the total square footage.
Atrium Health is a large, not-for-profit healthcare organization in the Southeast.
Flagship will provide property and asset management services, as well as accounting and lease administration for the buildings.
Cliff Berryman, vice president of investment sales for Flagship, represented the buyer. First National Bank provided financing for the transaction.
Flagship manages over 3.6 million square feet of healthcare real estate across over 140 properties and more than 440 tenants.
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