Chicago, IL -- EnTrust Realty Advisors, LLC, (www.entrustrealty.net) has completed the sale of Morehead Medical Plaza, a 190,771 SF medical office building adjacent to the prestigious Carolinas Medical Center in Charlotte, NC, the flagship hospital of Carolinas HealthCare System, on behalf of Alter+Care (www.alter-care.com). James I. Clark III, EnTrust Managing Principal, announced the transaction’s closing.
Morehead Medical Plaza, developed by Alter+Care in 2005, is located on a 12-acre site at Morehead Street and Harding Place, and is connected to a multi-story parking deck, as well as to Carolinas Medical Center, through Medical Center Plaza. The building is 100 percent leased to Carolinas HealthCare System affiliates, including OrthoCarolina; Blumenthal Cancer Center; Charlotte Obstetrical and Gynecological Associates; the Carolinas Medical Center Women’s Institute; Eastover Obstetrics & Gynecology Associates; Mecklenburg Medical Group; and Morehead Imaging Center, among others.
According to John H. Driscoll, President, Alter+Care, "Although we viewed ownership of a significant asset such as Morehead Medical Plaza as a long-term investment, we decided that this was an appropriate opportunity to convey the property to a benefactor and patron of the institution, John W. Harris and Centurion Healthcare fund after substantive discussions with the Carolinas HealthCare System."
"Clients like Alter+Care benefit from EnTrust's unique ability to access the most aggressive sources of private capital and our excellent relationships with institutional investors, investment funds, real estate investment trusts, developers, lenders and diverse transaction specialists," Clark said.
An affiliate of The Alter Group, EnTrust Realty Advisors, LLC, specializes in the disposition and recapitalization of investment real estate through direct sales, joint ventures and structured financing. It distinguishes itself by dedicating personal care to providing fiduciary quality commercial real estate investment services from the simplest to the most complex transaction.
Alter+Care, another affiliate of The Alter Group, is a capital and strategic partner to hospitals and health systems that plans, develops, finances, markets and owns healthcare real estate assets. The firm is ranked as the 5th largest healthcare real estate services firm by Modern Healthcare magazine, and has ranked in the top 10 for the past six years.