Schwab named Chairman, Edge CEO of Flagship Healthcare Trust; TriPost increases investment
CHARLOTTE, N.C. (December 30, 2020) – Nelson Schwab has been appointed Non-executive Chairman of the Board of Directors of Flagship Healthcare Trust, Inc., a private real estate investment trust (REIT) managed by Flagship Healthcare Properties, LLC (Flagship). In addition, J. Brannen Edge III has been appointed the REIT’s new Chief Executive Officer.
Flagship also announced that TriPost Capital Partners, a real estate private equity firm with representation on Flagship’s board, has made an additional $20 million investment in the REIT. TriPost made its initial investment in Flagship in 2018.
Flagship Healthcare Trust owns interests in more than 65 clinical healthcare properties valued at more than $500 million, representing more than 1.8 million square feet of medical office space in 18 markets in the Southeastern and Mid-Atlantic United States. Flagship is on track to have one of its most active months of investment ever in December, with more than $45 million in property acquisitions across four states expected to occur in this month alone.
Schwab has served as an independent board member of the REIT since its inception in 2017. He is co-founder and senior advisor of Carousel Capital, a leading private equity firm based in Charlotte that focuses on middle market businesses in the Southeast. Since its inception in 1996, Carousel has invested in companies with an aggregate enterprise value of more than $8 billion.
“I am honored to become chairman and look forward to helping steer the Flagship REIT toward continued prosperity and added value for shareholders,” Schwab said.
Edge has served as the REIT’s president and treasurer and a member of the board since 2017. He is the Managing Partner and CEO of Flagship Healthcare Properties, which owns the REIT’s external manager. Edge and Schwab assume the roles of CEO and Chairman, respectively of the REIT following the death of Charles Campbell in November.
“While deeply saddened by the passing of my friend and business partner Charles, I am energized by the opportunity to lead the company that reflects his legacy,” Edge said. “The year 2020 will see Flagship generate its strongest results ever and the future looks even brighter. I am humbled and honored to take the lead in driving even higher levels of achievement and growth.”
J. Brannen Edge III