Flagship Healthcare Trust

What Flagship Healthcare Trust does

Flagship Healthcare Trust, Inc. is a private real estate investment trust (REIT) established in 2021 and headquartered in Charlotte, North Carolina. It is externally managed by its core operating subsidiary, Flagship Healthcare Properties, LLC, which provides acquisitions, development, leasing and brokerage, project and construction management, and property services for outpatient healthcare real estate. As of Q4 2025, the REIT holds interests in 110 properties comprising approximately 3.0 million square feet of clinical space valued at more than $1.1 billion, with the broader Flagship Healthcare Properties platform managing roughly 8.4 million square feet across more than 405 properties and 770+ tenants in over 12 states across the Southeast and Southern Mid-Atlantic regions. Portfolio assets are concentrated in medical office buildings (MOBs) and ambulatory surgery centers (ASCs) leased to physician practices, specialty groups, and health systems, with tenants including OrthoCarolina, Palmetto Infusion, Welltower, Virginia Cardiovascular Specialists, and Lexington Clinic.

The company generates revenue through rental income from its owned portfolio and through property and asset management fees earned by Flagship Healthcare Properties on both captive and third-party managed assets (e.g., the Montecito 11-property agreement signed in July 2025). It has historically delivered a 5.5%-6% annual distribution yield to investors, with 100% of 2023-2025 dividends classified as return of capital, producing tax-equivalent yields of 7%-11% for high-bracket investors. Distribution channels include direct investor relations, the iCapital Marketplace (launched October 2025), and a Shariah-compliant fund structure that brought in Gulf Cooperation Council (GCC) capital in 2022. The company is led by President and CEO J. Brannen Edge III, with EVPs overseeing dedicated functions for ASCs, acquisitions, and development. Capital structure is anchored by a $265 million syndicated revolving credit facility led by Fifth Third Bank (with a $200 million accordion), expanded in 2025 to support continued acquisition and development activity across target growth markets.

Name

Flagship Healthcare Trust

Legal name

Flagship Healthcare Trust, Inc.

Website

https://flagshiphp.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Flagship Healthcare Trust is a Charlotte-based private REIT (managed by Flagship Healthcare Properties) that owns and develops outpatient medical office buildings and ambulatory surgery centers across the Southeast and Mid-Atlantic, holding $1.1B+ across 110 properties for accredited investors and RIAs.

Ownership category

akta.pro rank

Product category

Healthcare Real Estate Investment Trust

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940), Trusts, Estates, and Agency Accounts (52592)

SIC

Real Estate Investment Trusts (6798)

akta.pro primary industry

Healthcare & Medical Office Property Management (BPAJAGAF)

akta.pro secondary industries

Healthcare & Senior Housing Real Estate Asset Management (BPAJAMAH), Healthcare & Medical Office Brokerage (BPAJABAF), Healthcare & Medical Office Tenant Representation (BPAJALAF), Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Healthcare real estate
• Medical office buildings
• Ambulatory surgery centers
• Private REIT investments
• Outpatient healthcare facilities

Headquarters

HQ city

Charlotte

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Personnel, Operations, Supply Chain, Others

Revenue model

1. Rental Income from Healthcare Properties: As a private REIT, Flagship Healthcare Trust generates revenue through rental income from its portfolio of clinical healthcare assets including medical office buildings and ambulatory surgery centers. Distributions are paid to investors from rental income and capital returns.
2. Property Management and Asset Management Fees: Flagship Healthcare Properties, the external manager of the REIT, earns fees for property management and asset management services provided to the REIT portfolio properties.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Flagship Healthcare Trust is a private real estate investment trust that owns and manages outpatient healthcare real estate assets, primarily medical office buildings and ambulatory surgery centers, across the Southeast and Southern Mid-Atlantic United States. Through its externally managed operating subsidiary Flagship Healthcare Properties, the company provides a vertically integrated service platform spanning acquisitions, development, leasing and brokerage, project and construction management, and ongoing property and asset management to healthcare providers and physician groups. The REIT holds interest in 110 properties comprising 3.0 million square feet valued at more than $1.1 billion as of Q4 2025, while the broader Flagship platform manages approximately 8.4 million square feet across 405+ properties serving more than 770 tenants.

Product overview

Flagship Healthcare Trust operates as a private real estate investment trust focused on outpatient healthcare real estate assets across the Southeast and Southern Mid-Atlantic regions. The company offers a vertically integrated platform combining Flagship Healthcare Trust (REIT) for investment products and Flagship Healthcare Properties for full-service real estate operations. Core offerings include Medical Office Building (MOB) and Ambulatory Surgery Center (ASC) acquisitions, development, leasing, and property management services. The platform is enhanced by supporting modules including acquisitions services, development services, leasing and brokerage, project and construction management, and property services. Investment products provide tax-advantaged returns through the private REIT structure with distribution yields historically ranging between 5.5% and 6% annually.

Differentiator

Problem solved

Functional benefit

Products and services

• Flagship Healthcare Trust (Flagship REIT) Private real estate investment trust that owns clinical healthcare assets throughout the United States with a strategic focus on the Southeast and Mid-Atlantic regions. Holds interest in 110 properties comprising 3.0 million square feet of space valued at more than $1.1 billion as of Q4 2025. Offers tax-advantaged REIT investment products to accredited investors, family offices, and registered investment advisors through the iCapital Marketplace and direct investor relations.
• Flagship Healthcare Properties Management Services Fully-integrated outpatient healthcare real estate firm offering acquisitions, development, leasing and brokerage, project and construction management, and property services. Manages approximately 8.4 million square feet of healthcare real estate in more than 405 properties serving more than 770 tenants across the United States, including third-party managed assets such as the 11 Montecito medical office buildings and ambulatory surgery centers.
• Medical Office Building (MOB) Services Acquisition, development, leasing, and management of medical office buildings for healthcare providers, physician practices, and health systems. Includes Class A, fully leased MOBs such as the Toringdon Medical I in Charlotte's Ballantyne market, Citrus Tower MOB in Clermont FL, and 2201 Westgate Plaza in Grapevine TX (with eight exam rooms and two operating rooms).
• Ambulatory Surgery Center (ASC) Services Property acquisition and management of ambulatory surgery centers, including multispecialty ASCs with multiple operating rooms and procedure rooms for outpatient surgical services. ASC portfolio includes facilities such as Central Ohio Surgical Institute (New Albany, OH, majority owned by OhioHealth), Madison Surgery Center (Madison, AL), Northwest Florida Surgery Center (Panama City, FL), and The Endoscopy Center (Pensacola, FL).
• Tax-Advantaged REIT Investment Products Private REIT investment products offering tax advantages including return of capital distributions (100% of dividends classified as return of capital in 2023, 2024, and 2025), 20% pass-through deduction under Section 199A, and tax-free wealth transfer through step-up in basis upon death. Distribution yields between 5.5% and 6% annually with tax-equivalent yield historically ranging between 7% and 11%.

Quantifiable outcome

• Annual yield of 5.5% to 6% with tax-equivalent yield of 7% to 11%
• +2 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• iCapital MarketplacecoreChannel Partner/ Reseller/ Distributor · 30 October 2025Flagship Healthcare Trust offerings are now available to registered investment advisors, family offices, and accredited investors via iCapital Marketplace, expanding access to healthcare real estate investments.
• Porter Family (Wiregrass Ranch)coreStrategic or Co-development Partner · 6 January 2025Joint venture partnership for the Wiregrass Ranch Medical Pavilion I development in Wesley Chapel, Florida. The Porter Family, which established Wiregrass Ranch in 1942, is partnering with Flagship Healthcare Trust and Florida ENT & Allergy.
• Florida ENT & AllergycoreStrategic or Co-development Partner · 6 January 2025Florida ENT & Allergy, the largest ear, nose, and throat practice in the Tampa Bay area with 13 locations and 45+ years of service, serves as the anchor tenant and joint venture partner for the Wiregrass Ranch Medical Pavilion I development.
• Precise ConstructionminorImplementation/ SI/ Consulting Partner · 6 January 2025Precise Construction serves as the general contractor for the Wiregrass Ranch Medical Pavilion I development project.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Welltower: The largest publicly traded healthcare REIT in the U.S., with significant outpatient medical office and ambulatory exposure. Welltower is explicitly named by Flagship as a long-standing partner and is the most directly comparable competitor for outpatient healthcare real estate at scale.
• Healthpeak Properties: Public healthcare REIT with a sizable outpatient medical office portfolio across the U.S. Healthpeak directly competes with Flagship for MOB acquisitions and physician practice tenants in growth markets.
• CareTrust REIT: Public healthcare REIT focused on skilled nursing and seniors housing with growing outpatient exposure. Comparable as a growth-oriented, externally advised REIT structure competing for similar institutional capital.
• Sabra Health Care REIT: Public healthcare REIT investing in skilled nursing, seniors housing, and specialty hospitals. Operates a similar externally managed REIT model and competes for healthcare real estate capital and tenants.
• National Health Investors: Public healthcare REIT with senior housing and medical facility exposure. Comparable externally-managed REIT structure and similar focus on income-producing healthcare real estate for institutional investors.
• Anchor Health Properties: Private healthcare real estate firm specializing in MOBs and outpatient facilities. A close private competitor providing acquisitions, development, leasing, and property management for medical outpatient assets.
• Strawberry Fields REIT: Public non-traded REIT focused on skilled nursing and seniors housing. Comparable as a smaller healthcare REIT pursuing institutional capital for healthcare real estate acquisition and development.
• Community Healthcare Trust: Public REIT owning healthcare-related commercial real estate, particularly medical office buildings in non-urban markets. Comparable in scale and MOB focus, with similar tenant base of physician practices and healthcare providers.
• Montecito Medical Real Estate: Private healthcare real estate company focused on medical office acquisitions across the U.S. Recently entered a property management agreement with Flagship, indicating peer-level operational overlap in the MOB segment.

Broad incumbents

• Ventas: Diversified S&P 500 healthcare REIT with outpatient medical office and research portfolio. Competes broadly with Flagship in healthcare real estate but operates at much larger scale across multiple property types.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/FlagshipHP
• Facebookfacebook.com/FlagshipHealthcareProperties
• LinkedInlinkedin.com/company/flagshiphp
• Instagraminstagram.com/flagship_hp

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flagship Healthcare Trust