CenterSquare Investment Management has made a $35m (€30m) equity investment in Flagship Healthcare Trust, a US medical office real estate investment trust (REIT).
Flagship is a southeastern and mid-Atlantic focused medical office private REIT with over 2m sqft of office space and 75 properties. The equity investment will support the acquisition and development pipeline of the company’s portfolio.
CenterSquare said it made the investment as part of its strategic capital platform on behalf of a Fortune 100 institutional client pension plan.
Chad Burkhardt, managing director of CenterSquare, said: “The medical office real estate sector is enjoying both favourable secular and cyclical tailwinds as an ageing population is increasingly seeking convenient locations to access quality healthcare.
“Nowhere is that more pronounced than in the southeast US market where Flagship’s leadership team leverages their strong relationships with physicians and health care systems and deep sector knowledge to consistently execute on their strategic growth plan.”
J Brannen Edge III, president and CEO of CenterSquare, said the deal represents the second corporate pension plan investment in Flagship over the past few months.
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