North Carolina REIT purchases Germantown medical office building
A North Carolina-based real estate investment trust (REIT) has purchased a Germantown medical office building for $9.6 million, according to a deed...
A North Carolina-based real estate investment trust (REIT) has purchased a Germantown medical office building for $9.6 million, according to a deed filed with the Shelby County Register. Flagship Healthcare Properties purchased the 100% leased building — which was renovated in 2017 — from an LLC related to the California-based American Healthcare REIT. That associated LLC purchased the medical office property in August 2019 for $8.7 million, according to the deed. The medical office building is at 1727 Kirby Parkway and stands at 26,913 square feet.