Flagship Healthcare Properties (Flagship) acquired and will repurpose a 
Class A office building into a healthcare destination center for providers in Wilmington, North Carolina. Flagship paid $21 million for the three-story, 153,526-square-foot property at 3601 Converse Road that was purpose-built as a single-tenant office building formerly occupied by a Verizon call center.

Flagship is on its way to repositioning this property as an outpatient healthcare campus, and has 
already received lease commitments from Novant Health, whose tenancy in the building 
will begin in 2025 with services that will eventually occupy two floors of the building in 
the newly branded Flagship Medical Plaza. 

The former Verizon building will house various services, including an OB/GYN clinic. It will also house specialists in pulmonary medicine and pain management along with endocrinology and rheumatology – two specialties for which it can be difficult to recruit providers. The building will also house other lab services, including radiology, pharmacy and some infusion chairs.

A joint venture between Childress Klein and Cameron Management obtained a $48.5 million loan for refinancing the Element Barclay Station, a 286-unit apartment complex in Wilmington, North Carolina. The 12-year fixed-rate loan was secured through a life company.  

Located at 1841 Dusty Miller Ln, Element Barclay Station is a nine-building, 286-unit garden-style apartment complex that was delivered in 2023. The complex includes one- to three-bedroom units that range in size from 746 square feet to 1,582 square feet. Community amenities include a pool, fitness center, game room, and dog park. Element Barclay Station represents the third phase of Childress Klein’s Element Barclay master-planned community, which began with the delivery of 258 apartment units in 2018 and continued with 147 more units delivered in 2019. 

Nate Sittema, Kristen Reilley, and Ben Hardee with CBRE Capital Markets’ Debt and Structured Finance in Charlotte represented the borrower.