Anchor Health Properties has recently invested in an 18,500 square foot Class A medical office building located in the Lawrenceville submarket of Atlanta, Georgia. Anchor directly acquired the asset with the firm’s co-managed healthcare fund, Chestnut Healthcare Fund I.
766 Walther Road NW is strategically located adjacent to the Northside Health-sponsored Gwinnett Hospital campus, one of the largest health system and hospitals in the area, featuring a trauma center designation and 462 hospital beds. Close proximity to the Northside Health campus and additional critical healthcare services creates a synergistic network for the best-in-class tenancy of the facility.
The asset is 100% occupied by long-term, multi-specialty and multi-location tenants, including Northeast Atlanta Ear, Nose & Throat and Eastside Heart and Vascular, an HCA Healthcare affiliated practice. The complementary tenancy provides a comprehensive line of ENT and cardiac care services, respectively. The facility was built to suit for the existing tenancy which hand selected the location to target the surrounding residential communities.
Anchor’s Chief Executive Officer Ben Ochs stated, “The Atlanta market continues to be a targeted growth area for our investment platform. This acquisition aligns with our strategy to build a portfolio focusing on core investments in the region. The well-located facility, which is currently 100% occupied, presents the opportunity to invest in a stable, Class A medical office building and work closely with a diverse mix of high-quality providers to enhance the delivery of healthcare service through real estate solutions.”
“This acquisition is a perfect fit for the Chestnut Healthcare Fund I,” noted James Schmid, Chief Investment Officer with Anchor. “This type of facility represents the future of healthcare – a stable Class A asset fully leased to leading healthcare providers. The quality of the tenancy and the long lease term should provide a strong, reliable stream of cash flow for our investors for years to come. We are very pleased with this acquisition and look forward to acquiring similar assets as we expand our portfolio in the Atlanta area and throughout the East Coast.”
Transwestern led the sale efforts for the asset. Synovus Bank provided secured debt financing for the acquisition. Anchor Health Properties will provide go-forward property management services at this location.