Anchor Well being Properties, in a three way partnership with Chestnut Healthcare Fund II, has acquired a 96,357-square-foot constructing in Johns Creek, Ga., that had been partially repurposed for medical workplace use. The vendor was a personal entity fashioned by six of the property’s tenants. Capital One supplied debt financing for the off-market acquisition.
In response to CommercialEdge knowledge, the asset beforehand modified fingers in 2019 when it was purchased for $11 million. The acquisition additionally concerned a $15 million mortgage from Synovus Financial institution.
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Accomplished in 1998, the Class A, four-story property is a former industrial workplace constructing that will likely be absolutely transformed to medical workplace house. Anchor Well being will oversee the conversion course of and execute a capital enchancment plan that options the renovation of the foyer and different widespread areas.
The tenant roster consists of Coronary heart & Vascular Care, United Digestive, Pandya Medical Middle, Luna Plastic Surgical procedure and Milan Eye Middle. These practices will likely be joined by extra medical suppliers equivalent to Digital Imaging, Nile Ladies’s Well being Care and Cleaver Medical Group.
The property is situated at 11315 Johns Creek Parkway, 30 miles from Atlanta and only one mile from Emory Johns Creek Hospital. Different medical services within the space embrace Johns Creek Dermatology, American Well being Imaging Johns Creek and Atlanta Imaginative and prescient Institute, amongst others.
Senior Vice Presidents Michael Lipton and Josh Gregory of Colliers, in addition to Transwestern Senior Managing Director Steve Corridor, Managing Director John Lopez and Senior Affiliate Bo Stuart, had been a part of the transaction course of.
Anchor Well being’s portfolio growth
CommercialEdge knowledge reveals Anchor Well being owns 224 medical workplace buildings throughout U.S., totaling roughly 13.7 million sq. ft. Within the first a part of the 12 months, the agency expanded its California footprint with the acquisition of two medical workplace buildings, totaling greater than 110,000 sq. ft, in Los Angeles and the Bay Space.
Two different transactions not too long ago closed in Florida, in a three way partnership with Harrison Avenue. The partnership acquired a 95,777-square-foot property in Plantation and, earlier this month, a 31,886-square-foot medical workplace constructing in Delray Seashore.
