Flagship Capital Acquires Inlet Medical & Dental Center in Murrells Inlet, SC
October 24, 2012
CHARLOTTE, NC - Flagship Capital Partners (Flagship), the investment affiliate of Brackett Flagship Properties, is pleased to announce the acquisition of Inlet Medical & Dental Center, a 17,694 SF medical office building located in Murrells Inlet, South Carolina. The 100% leased asset was acquired by the Flagship Healthcare Real Estate Fund, Flagship's recently launched private equity fund. This investment continues Flagship's focus on growing their high-quality medial office portfolio.
The property is located in the Myrtle Beach / Grand Strand area of the South Carolina coast and is anchored by Inlet Medical Associates, a Roper Saint Francis-affiliated physician practice. The practice has signed a long term lease and provides credit strength, stable income and consistent revenue growth to the asset. Inlet Medical & Dental Center has strong co-tenancy including Adult & Children's Dentistry, Bio Identical Hormones, Clinical Research Authority, and Myers Podiatry Clinic.
Flagship identified, negotiated, and structured the acquisition on behalf of the real estate fund. Bill Transou, Chief Investment Officer of Flagship, explains, "We are pleased to have met the objectives of our investors as we are confident in the strength and growth strategy of Inlet Medical & Dental Center. We also look forward to developing a long standing relationship with Roper St. Francis Hospital and their affiliated practices."
Brackett Flagship Properties will provide asset and property management services to the property.