First Quarter Success for Anchor Health Properties

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Apr 25, 2017, 14:53 ET

WILMINGTON, Del., April 25, 2017 /PRNewswire/ -- The first quarter of 2017 was a broad success for Anchor Health Properties. Along with Chestnut Equity Partners, they announced a first closing of the CHP Acquisitions Fund, a discretionary equity fund that directly acquires medical office buildings and co-invests with institutional equity partners. The firm also acquired three new healthcare properties totaling over $55m of gross value and nearly 200,000 SF and secured commitments of several hundred thousand SF of new development projects that will begin construction in the next 12 months. Additionally, the firm's management and leasing platform has gained significant additional square footage for oversight.

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Under the helm of Chief Investment Officer James A. Schmid III, the three first quarter closings were acquired through a joint venture with The Carlyle Group, a global alternative asset manager. Since its inception in April 2016, the joint venture has completed seven transactions with a gross total acquisition size of more than $160 million. The AHP acquisitions platform also currently has another $200 million of pending new investments under contract or with letter of intent.

"We are pleased with the profile and quality of the properties acquired," notes Ben Ochs, Anchor Health Properties' CEO. "Recent changes to the healthcare delivery setting, now make outpatient medical centers vital to the success of health systems' overall strategy. Our property management team works with tenants to not only ensure that these properties are well-maintained and functioning properly, but also to think creatively about branding, patient flow and opportunities to increase efficiencies."

Anchor's recent acquisition progress complements the firm's traditional focus on the development and management of healthcare real estate. Anchor currently manages more than two million square feet of healthcare real estate across the United States.

ACQUISITION DETAILS:

300/330 Billingsley Drive: Charlotte, NC | 90,000 SF Medical Office Buildings

955 Lane Avenue: Chula Vista, CA | 20,000 SF Medical Office Building

Oxford Valley Medical Plaza: 240 Middletown Blvd., Langhorne, PA | 66,000 SF Medical Office Building

Anchor Health Properties is a national, full-service healthcare real estate development, management and acquisitions company focused exclusively on medical facilities. We develop and manage projects 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.

Contact: [email protected]

SOURCE Anchor Health Properties