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Anchor Health Properties Grows Denver MSA Presence with 19,247 Square Foot Multi-Tenant MOB

Anchor recently closed on the acquisition of a two story, 19,247 square foot Class A medical office building located in the Castle Rock submarket of Denver, Colorado. The recently constructed multi-tenant MOB was acquired as a direct investment by Chestnut Healthcare Fund II, an equity fund Anchor co-manages with Chestnut Funds. The transaction featured an off market execution.

Centrally positioned within The Meadows master planned community, the facility is located at 4350 Limelight Avenue and is strategically situated adjacent to the 53 bed Castle Rock Adventist Hospital campus which is operated by Centura Health (S&P AA-), the largest health system in the Denver metro area and a subsidiary of Advent Health and Catholic Health Initiatives.

Constructed in 2017, the 100% occupied asset is anchored by a best in class orthopedic practice owned by Centura Health, Centura Orthopedics, as well as a Centura sponsored physical therapy tenant. Centura Orthopedics is joined by complementary regional specialist tenants, including Clarity Dermatology, Neurology of the Rockies, and Podiatry Growth Partners. Specialty care services offered by additional synergistic tenancy includes treating nervous system disorders, general and cosmetic dermatology, Mohs surgery, and sports medicine, stem cell injections, among others.

“We are very pleased to acquire this prime property in a great market and for the opportunity to enter into a long-term relationship with such dynamic and growing specialty medical providers,” shared James Schmid, Chief Investment Officer and Managing Partner with Anchor. “As we close out 2021, our team continues to identify excellent opportunities to meet the growing demand for high quality specialty care facilities and this investment fits squarely within our thesis to acquire and re-position medical office buildings to preserve asset value, while enhancing the delivery of patient care. The Denver market is one of Anchor’s largest US footprints, and this transaction continues our strong push to expand our platform across the Western US over the past couple of years.”

Sourcing the initial investment and leading the underwriting process, Anchor’s Vice President of Investments, Ilya Hvostikov, also noted, “As we expand our existing “boots on the ground” presence in the Denver metro area, we are committed to serving as a true value-add and solutions-oriented partner for health systems and private practices. We continue to pursue outstanding properties in growing suburban markets nationwide, and this opportunity had the right combination of market fundamentals, attractive location and strong medical tenants we seek. We are looking forward to supporting this best in class medical tenancy as they provide specialty care services to the community.”

Abby Bartolotta, Vice President, Healthcare Solutions with JLL, represented the Buyer in an off-market fashion and will provide on-going leasing assistance. Synovus Bank provided debt financing services. As the new owner of the facility, Anchor Health Properties will provide go forward asset, and property management services at this location.

Contact

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 or submit the form below 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

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