January 9, 2020
Charlottesville, VA-based Anchor Health Properties sourced the Edmonds Medical Center in Edmonds, WA and closed it with a repeat institutional capital partner. The seller of the 32,000-square-foot, two-story medical office building was an affiliate of First Western Development Services.
Originally built in 2012 for local physicians, the Class A asset was later leased by The Everett Clinic, a wholly-owned subsidiary of UnitedHealth Group. The building houses a CON governed ambulatory surgery center and imaging suite. The site is located adjacent to the Swedish Health Edmonds Hospital Campus.
Anchor’s CEO Ben Ochs noted that the Seattle market continues to have “strong demand” for healthcare services along with a growing population. He indicated they believe the asset provides the potential for them to “create value” by positioning the building as high-quality institutional medical office facility specifically for healthcare tenants in a prominent location within a high-growth area.
CBRE’s Steve Perovich, Paul Carr, and Marcus Yamamoto advised on the Edmonds Medical Center off-market transaction, which closed without secured debt financing.
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