Flagship Capital Partners, LLC Completes Acquisition of Park Cedar Medical Building in Pineville, NC
December 17, 2009

Charlotte, NC -- Flagship Capital Partners, LLC (Flagship) is pleased to announce that it has closed on the acquisition of the Park Cedar Medical Building in Pineville, NC.

Park Cedar Medical is a 23,000 square foot Class A medical office building located at 10000 Park Cedar Drive in Pineville, NC. The building is located in close proximity to the recently expanded Carolinas Medical Center-Pineville. The building is 100% leased to Carmel Family Physicians and Carmel Family Pharmacy.

Brannen Edge represented Flagship while Matthew Wall of Sterling Properties Group, Inc. represented the Seller. Bank of North Carolina provided financing and was represented by Senior Vice-President Rob Ellenburg.

The purchase, Flagship’s third medical office building acquisition in the past eight months, represents continued growth in the healthcare real estate sector for the company. In May Flagship closed on the 43,000 square foot Eastside Medical Center in Greenville, SC, and in October the company acquired the 40,000 square foot Wesley Long Professional Building in Greensboro, NC.

“We are pleased to have been able to acquire the Park Cedar Medical Building,” stated Brannen Edge, Flagship’s Vice President of Financial Services. “We continue to view healthcare real estate as an attractive asset class and a safe harbor from the current economic storm. This property fit our parameters nicely and we are excited to own this Class A asset with such high quality tenants.”

Flagship will provide asset and property management services for the property, bringing the number of buildings the Company owns or manages to 22 and totaling over 870,000 square feet of space.

Flagship Capital Partners, LLC is a private investment real estate firm specializing in the acquisition of income-producing healthcare real estate and providing leasing, brokerage, property management and corporate real estate services to clients. Founded in 2005, the Firm has completed more than $400 million in transaction volume. Flagship’s management team has over 175 years of collective real estate experience and expertise in all areas of investment real estate. To learn more, visit us at www.flagshipcapital.com or call us at (704) 971-4880.

Flagship Capital Partners, LLC is a private real estate firm specializing in investment real estate. Having completed approximately $450 million in transaction volume since February 2005, our primary emphasis is on acquisition and management of income-producing real estate in the United States with a focus on office and medial office properties. Flagship Capital Partners is a leader in creating innovative deal structures to meet the needs of private real estate investors.