Anchor Health Properties Expands Charlotte Footprint with Off-Market Acquisition of a 150,000 Square Foot Medical Outpatient Building

Building on the company’s continued growth in the Southeast and expanding Charlotte footprint, Anchor Health Properties (Anchor), a national, full-service healthcare real estate development, management, and investment company focused exclusively on medical outpatient buildings and specialty healthcare facilities, recently closed on a five-story, 151,993 square foot medical outpatient building in the SouthPark submarket. Referred to as the Azalea building, the off-market transaction was completed through a programmatic joint venture with an institutional equity partner. 

Located at 6324 Fairview Road, the property sits approximately four miles from the Novant Health Presbyterian Medical Center, a 617-bed hospital, positioning the asset in a highly strategic location serving a well-established patient base across urban Charlotte. Originally developed in 1990 as a commercial office building, the facility has naturally transitioned to medical outpatient use over time and is currently anchored by Novant Health, one of the region’s largest integrated healthcare systems with more than 2,000 physicians across 850 outpatient locations and 19 medical centers. Novant first leased space at the property nearly two decades ago and has steadily expanded its presence, now occupying nearly 75% of the building. Services provided at this location include imaging, family medicine, women’s health, senior health, memory care, pediatrics, urogynecology, and rheumatology.

“The Azalea building has long been recognized as one of the premier medical outpatient buildings in Charlotte, and it is one we have carefully tracked for several years — building a relationship with the ownership group throughout that time,” shared Elliott Sellers, Senior Vice President and Partner, Investments with Anchor Health Properties. “Over the last two decades, this facility has become a hub for Novant’s outpatient operations in the SouthPark market, as reflected by their more than 110,000 square feet of clinical services at the building. When the opportunity presented itself, we were able to apply creative deal structuring to align our business plan with Novant Health's operational goals, creating a true partnership around the building's future. We are eager to be good stewards of the Azalea building going forward.”

The off-market investment was led by Rob Rumer, Vice President, Investments with Anchor Health Properties, who added, “This facility represents a strategic addition to our Charlotte portfolio and highlights the unique opportunity to secure a well-established, high-performing asset with a long-term anchor tenant in Novant Health. With nearly two decades of Novant’s presence and continued growth in the building, we see significant value in both the property’s location and its role in supporting on-going outpatient care - reinforcing why this asset was an ideal fit for our programmatic investment strategy.”

Caldwell Rose and Mike Wiles with NAI Southern Real Estate represented the buyer in the transaction. Regions Bank provided debt financing for the acquisition. As the new owner of the facility, Anchor Health Properties will provide go forward asset and property management services to the joint venture for this investment.