Anchor Health Enters Columbus Market

Grove City medical office building. Image courtesy of Anchor Health Properties

Anchor Health Properties has acquired a 38,327-square-foot medical office building in Grove City, Ohio, from Trivium Development for $10.2 million, Franklin County records show.

The purchase was financed with an acquisition loan of $6.8 million, provided by First Citizens Bank, according to the records.

Anchor Health bought the asset through its discretionary equity fund, Chestnut Healthcare Fund II, which is co-managed with Chestnut Funds. The company will provide asset and property management for the medical office building.

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Trivium Development completed the two-story Class A facility in 2019. At the time of the sale, the property was fully occupied and anchored by the Grove City VA Clinic. Additional tenants include The James Grove City, which is part of the Ohio State University Comprehensive Cancer Center, as well as Fresenius Kidney Care, Central Urology Group and Columbus Nephrology.

The property is located at 5775 N Meadows Road, 11.6 miles from downtown Columbus and has access to Interstate 71. The facility is adjacent to the Mount Carmel Hospital Grove City, a full-service hospital campus which offers 210 inpatient beds. Other medical service providers in the surrounding area include Grove City Primary Care and Grove City Smiles, among others.

Engle Real Estate represented the seller in the transaction.

Growing a health-care portfolio through acquisition funds

The current transaction marks not only Anchor Health’s entry into the Columbus market, but also another acquisition made through its discretionary fund.

Anchor Health acquired several medical office buildings last year, including a property in metro Portland purchased in late December and Blue Hills Medical Center, a 47,350-square-foot facility which expanded the company’s Boston footprint.

Charlottesville, Va.-based Anchor Health expanded its portfolio in two other markets in the fourth quarter of 2022, with the purchase of a 96,357-square-foot building in metro Atlanta and a 32,886-square-foot medical office building in Delray Beach, Fla., in a joint venture with Harrison Street.