Flagship Healthcare Properties Signs Property Agreement with Montecito

 Covers 11 Medical Office Buildings and Ambulatory Surgery Centers for Leader in Healthcare Real Estate

CHARLOTTE, N.C., July 28, 2025 /PRNewswire/ -- Flagship Healthcare Properties (Flagship) will provide comprehensive property management services and engineering for Montecito Medical Real Estate in Virginia, one of the largest privately held acquirers of medical real estate in the country.

Flagship will oversee property management, tenant relationships, vendor contracts, construction management, engineering, and related activities for 11 of the firm's assets in Greater Richmond and Virginia Beach.

"We are grateful for the opportunity to serve a valuable client in Montecito Medical on the management of these properties in Virginia," said Joseph Shull, Flagship Partner and Executive Vice President of Property Management. "With this assignment, we are able to add to our portfolio of medical buildings under management in Virginia. Also, in conjunction with this assignment, we have hired some really talented personnel in property management and engineering to support our growing operations in Virginia."

Flagship will manage 11 Class A assets totaling more than 500,000 square feet, with a wide range of tenant uses, including Ambulatory Surgery Centers (ASCs), imaging centers, primary care providers, women's health operators, and other specialties. 

"We look forward to growing our relationship with the Flagship team in one of our core markets," said Billy May, Montecito Executive Vice President of Asset Management.

Flagship added two full-time employees dedicated to the Montecito assignment. 

About Flagship Healthcare Properties
Flagship Healthcare Properties, LLC (Flagship) is a fully-integrated outpatient healthcare real estate firm serving clients throughout the United States. Headquartered in Charlotte, North Carolina, Flagship offers a full range of real estate services, including acquisitions, development, leasing and brokerage, as well as facilities, property and asset management. Flagship manages approximately 8.4 million square feet of healthcare real estate in more than 385 properties serving more than 765 tenants. Flagship serves as the manager of its private REIT, Flagship Healthcare Trust, Inc. For further information, visit www.FlagshipHP.com.

About Montecito Medical Real Estate
Montecito Medical Real Estate is one of the nation's largest private owners and operators of healthcare real estate, specializing in the acquisition of outpatient healthcare properties across the United States. Montecito headquarters are in Nashville, Tennessee. Montecito owns 350+ assets in 38 states, totaling over 10 million square feet, with a total transaction volume of over $5.5 billion in medical office real estate.

 Media Contact: [email protected]; 704-287-8642

SOURCE Flagship Healthcare Properties