Anchor Health Expands Portfolio With Portland Buy

9280 SE Sunnybrook Blvd. Image courtesy of Anchor Health Properties

Anchor Health Properties has acquired a 19,916-square-foot medical office building in Clackamas, Ore., through its Chestnut Healthcare Fund II, a discretionary equity investment vehicle co-managed with Chestnut Funds. Synovus Bank provided debt financing for the asset that was sold by Providence Health.

Completed in 2009, the property is part of a two-building campus totaling 55,000 square feet, each facility being individually managed, according to CommercialEdge data.

The fully leased building is anchored by Clackamas Radiation Oncology Center, a joint venture between Providence Health and The Oregon Clinic division of Radiation Oncology. The health-care provider features a linear particle accelerator used for precision treatment of cancerous tumors. The tenant roster also includes the Cancer Institute & Breast Surgery Clinic and Mt. Scott ENT & Sleep Medicine.

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Located at 9280 SE Sunnybrook Blvd., the property is 11 miles from downtown Portland, Ore., having access to Interstate 205. Other medical facilities in the surrounding area include Providence Milwaukie Hospital, Providence Willamette Falls Medical Center and Kaiser Permanente Sunnyside Medical Center.

Newmark Executive Managing Director Garth Hogan, together with Colliers Executive Vice President Mark Schuessler, represented the seller. Vice President of Investment Elliott Sellers and Investment Associate Robert Rumer led the acquisition process for Anchor Health Properties.

Expanding portfolio through fund acquisitions

Through its Chestnut Healthcare Fund II, Anchor Health has made several medical office acquisitions in the past few months, especially in October. The firm purchased a 96,357-square-foot building partially repurposed for medical office use in metro Atlanta and a 47,350-square-foot asset in Braintree, Mass.

Also in October, the company expanded its Miami footprint with the purchase of a 31,886-square-foot facility in Delray Beach, Fla. The property is 6 miles from Boca Raton, Fla., just east of South Military Trail.