Flagship Healthcare Trust, a Charlotte-based ambulatory healthcare real estate investment trust, has acquired English Road Medical Center in Rocky Mount, a Class A medical office building that is 96% leased.
The 35,394 square foot building is located at 804 English Road near Nash UNC Health Care, the first University of North Carolina affiliated hospital for health care that has achieved national recognition.
âRocky Mount is thriving in many ways, helping to drive economic growth in Nash County,â said Gerald Quattlebaum, executive vice president of acquisitions for Flagship. âThis acquisition also represents a rare opportunity to acquire a property that was developed by a few of our executives some 20 years ago for the primary tenant.
âWe are now welcoming the selling physicians to our flagship family as investors in conjunction with the acquisition – a true testament to the long-standing relationships of which we are proud. “
Proximity to Nash UNC and other healthcare providers makes English Road Medical Center an ideal location for doctors and patients. The acquisition is Flagship Healthcare Trust’s first in the Rocky Mount area.
English Road Medical Center is home to the Rocky Mount Family Medical Center, which was acquired by Generations Family Practice / West Cary Medical Management in March 2021. Since its inception in 1983, Rocky Mount Family Medical Center today has 14 health care providers. primary care. The practice offers a variety of services such as family care, laboratory services, and women’s and men’s health.
The founder of the Rocky Mount Family Medical Center, Dr. Richard G. Michal, is the only physician concierge in the region to provide state-of-the-art one-on-one care within the MDVIP network.
âThis is truly a win-win outcome for my patients and my staff working at a first-class facility here at ERMC,â said Michal. âAs the previous owner of the property, I know the expertise that the people at Flagship bring to the table and I am delighted with this new relationship. “
âWe have grown to serve the thriving Rocky Mount area by providing top-notch care to our new and existing patients,â said Dr. Mark Abel, co-owner of Rocky Mount Family Medical Center since 1994. âFlagship is committed to providing a superb one facility that will help us continue to fulfill this mission.
The Fifth Third Bank team, led by Michael Perillo, funded the acquisition.