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Anchor Health Properties Acquires Strategic Investment in Affluent Submarket of Howard County, Maryland

Anchor Health Properties has recently invested in an institutional quality medical office building and ambulatory surgery center located in Ellicott City, Maryland. Anchor directly acquired the asset with the firm’s co-managed healthcare fund, Chestnut Healthcare Fund I.

Strategically located at 2850 North Ridge Road in a submarket of Howard County - one of the wealthiest counties in the country - the nearly 40,000 square foot MOB and ambulatory surgery center contains a comprehensive surgery center on the ground level. The facility features direct adjacency to a large 48-acre senior housing community and a 182-bed skilled nursing / rehabilitation facility.

The asset also enjoys long-term tenancy – on average, the current tenants have been present in the building for more than 16 years – and is the one of the only dedicated institutional quality medical office buildings in the submarket.

Anchored by the Ellicott City Ambulatory Surgery Center, a joint venture between LifeBridge Health and Orthopedic Associates of Central Maryland, additional synergistic services and tenancy of the building include chiropractic, orthopaedics, primary care, pediatrics, Seton Medical Group of Saint Agnes Hospital, and Howard County Child Advocacy services.

Anchor’s Chief Executive Officer Ben Ochs stated, “We are pleased to add the Ellicott City Ambulatory Surgery Center to our investment and property management portfolio. The building benefits from leading health system tenancy whom we are excited to partner with over the long-term as we continue to expand our healthcare portfolio and provide strategic capital in the Mid-Atlantic.”

“Over the past several years, we have deployed meaningful capital expenditures to create additional value in existing assets,” noted Mervyn Alphonso, Senior Vice President with Anchor. “Fully leased to a roster composed primarily of credit grade tenants and boasting superior visibility in an affluent metro area, this asset represents an ideal acquisition opportunity in the current market. We look forward to growing our presence in the greater Baltimore/Washington DC corridor along with expanding our relationship with LifeBridge Health and Orthopedic Associates of Central Maryland and continuing to build upon our track record of success in the Mid-Atlantic US.” 

NAI KLNB led the sale efforts for the asset. CIT Financing provided secured debt financing for the acquisition. Anchor Health Properties will provide go-forward property management services at this location led by Michelle Etheridge who is based in the market. Anchor will also manage leasing services in-house.

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Thank you for your interest in Anchor Health Properties. If you have any questions or would like to speak with a member of our team, please contact one of our offices to discuss your healthcare real estate needs.

We look forward to hearing from you.


Mailing Address:

425 Seventh Street NE
Charlottesville, VA 22902

contact@anchorhealthproperties.com

Charlottesville, VA

425 Seventh Street NE
Charlottesville, VA 22902
434.293.8004 (O) 434.293.6256 (F)

Philadelphia, PA

216 South Orange Street
Media, PA 19063
302.655.1010 (O) 434.293.6256 (F)

Knoxville, TN

800 South Gay St, Ste 700
Knoxville, TN 37929
865.850.1277 (O) 434.293.6256 (F)

Nashville, TN

330 Mallory Station Road, Ste D-11
Franklin, TN 37067
931.490.4625 (O) 434.293.6256 (F)

Washington, DC

1607 22nd Street, NW, 3rd Floor
Washington, DC 20008
202.309.8247 (O) 434.293.6256 (F)

San Diego, CA

4510 Executive Drive, Suite P10
San Diego, CA 92121
858.880.4699 (O) 434.293.6256 (F)