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CHATTANOOGA, TENN. — Flagship Healthcare Properties has acquired East Ridge Physicians Building, a 27,657-square-foot medical outpatient building located at 929 Spring Creek Road in Chattanooga. Situated adjacent to the 128-bed HCA Parkridge East Hospital, the Class A facility was fully leased at the time of sale.
The buyer acquired the property through its private REIT, Flagship Healthcare Trust. The seller and sales price were not disclosed.
Built in 1985, East Ridge Physicians Building’s interior and exterior were renovated last year by the previous owner. Flagship will provide property management and asset management services for the facility.