Anchor Health Properties Acquires Two Medical Office Buildings In Greater San Diego Market

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Aug 22, 2017, 13:00 ET

SAN DIEGO, Aug. 22, 2017 /PRNewswire/ -- Anchor Health Properties (Anchor) is pleased to announce the acquisition of two significant medical office properties in the greater San Diego market. In partnership with an institutional equity partner and in combination with previous acquisitions, Anchor is now the largest non-health system owner of medical office buildings in the San Diego metro area.

In early August, Anchor acquired 625 West Citracado Parkway, located off I-15 between the Escondido and Rancho Bernardo submarkets of San Diego. The 49,000 square foot, fully occupied clinical outpatient project is anchored by Rady Children's Hospital, the largest provider of pediatric services in San Diego and one of the largest pediatric health systems in the United States. Rady Children's provides outpatient services at the building including urgent care, primary care, and a broad range of specialty services. In addition, the building is anchored by the AMCR Institute, a large regional provider of endocrinology services to the broader San Diego market.

In late August, Anchor acquired Chancellor Park Medical Campus located off I-5 and I-805 in the UTC submarket of San Diego. The 206,000 square foot, two-building investment resides adjacent to the UCSD Jacobs Medical Center Hospital and Scripps Memorial Hospital La Jolla campuses. The buildings are anchored by UCSD Healthcare, who currently lease approximately 50% of the buildings. The project is 95% occupied by a wide range of primary and specialty care service providers. The buildings form the largest outpatient medical campus in UTC and one of the larger outpatient medical campuses in Southern California.

Anchor's Chief Investment Officer, James Schmid stated, "The recent acquisitions represent some of the best medical real estate in Southern California. The opportunities came to Anchor in an off-market fashion and were made possible through Anchor's focus on relationship driven sourcing of new investment opportunities. We expect these acquisitions to be a launching pad for broader investments across the region."

Anchor Health Properties opened a West Coast office in July and will continue to expand operations across the Western US through additional acquisitions and development efforts.

About Anchor Health Properties

Anchor Health Properties is a national, full-service healthcare real estate development, management and acquisitions company focused exclusively on medical facilities. Anchor takes a strategic approach to navigating the extremely competitive healthcare marketplace, considering multiple angles, such as retail drivers, customer experience, branding and efficiency of the project. We develop and manage projects across the United States that respond to the new landscape of employed physicians, team-based care, the need to optimize assets and reduce duplication, and the integration of care and technology. Healthcare today calls not only for new and more efficient ways of delivering outpatient services, but also a different kind of healthcare development and management company. For more information, please visit: www.anchorhealthproperties.com.