By Eric Althoff
MONTGOMERY & PRATTVILLE, Ala.—The healthcare real estate company Flagship Healthcare Properties has added to its portfolio in the Yellowhammer State, with the recent acquisition of one medical building in Prattville and another in the capital city of Montgomery.
Between the two medical office buildings (MOB), the combined space will offer 10 operating suites, three procedure rooms, four X-ray rooms, eight exam rooms as well as a pathology lab.
Flagship announced that it will continue to host the buildings’ former owners, Oral & Maxillofacial Surgery Associates (OMSA), under long-term leases at both sites.
“We couldn’t be happier to partner with this dynamic group of physicians and expand our presence in Alabama,” Gerald Quattlebaum, executive vice president of acquisitions for Flagship, said in a recent statement about the purchases. “These physicians represent best-in-class and are the dominant, market leaders in the capital city.”
Flagship’s subsidiary, Flagship Healthcare Trust, Inc., served as the purchasing entity for the MOBs. The deal itself was brokered by Josh Randolph of Colliers International of Birmingham, and was financed by United Bank.
OMSA has been a player in the healthcare market of Alabama for three decades. The company estimates that they provide 70 percent of all healthcare in the greater Montgomery area.
Flagship, headquartered in Charlotte, owns and manages many healthcare properties throughout the Southeast encompassing over 4 million square feet of healthcare space at 165 properties.
“We look forward to supporting Oral & Maxillofacial Surgery Associates as they continue to grow to meet the needs of the patients in the greater Montgomery area,” Quattlebaum said.