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Real Estate - Commercial

Novant To Sell, Leaseback Four Wilmington-area Properties In Statewide Effort

By Emma Dill, posted May 28, 2024
Novant Health plans to close on the sale of 21 properties across the Winston-Salem, Charlotte and Wilmington areas this summer. (File photo)
Novant Health closed on the sale of 16 of its North Carolina properties earlier this month, a transaction that included four facilities in the Wilmington area.

The sales are part of a “larger, multi-phased sale/leaseback transaction with Remedy Medical Properties Inc. and Kayne Anderson Real Estate,” according to a Novant Health spokesperson. The full real estate transaction will include the 16 properties that closed this month across the Winston-Salem, Charlotte and Wilmington areas, with an additional five properties that have yet to close.

“These transactions will be completed this summer and represent Novant Health’s dedication to continually seek innovative opportunities and expert connections that enable the health system to focus on its core priorities of caring for patients and bringing remarkable experiences to life to create a healthier future,” the spokesperson wrote in a statement to the Business Journal.

Both Remedy Medical Properties Inc. and Kayne Anderson Real Estate are real estate firms that specialize in medical offices and other health care real estate.

Additional information will be provided following the close of the final phase of the transaction. According to the spokesperson, Novant Health expects to provide a more detailed portfolio by mid-July.

Operations at all facilities Novant closed on will continue to operate as usual, according to the spokesperson. The Winston-Salem-based medical system closed on the sale of four Wilmington-area properties on May 17. Those facilities include:
  • 1415 Physicians Drive in Wilmington - Novant Health Heart & Vascular Institute - Wilmington Main
  • 9104 Market St. in Wilmington - Novant Health Scotts Hill Outpatient Surgery Center
  • 5220 Oleander Drive in Wilmington - Novant Health Rehabilitation Center - Oleander
  • 584 Hospital Drive in Bolivia - OB/GYN office
In the same transaction, Novant closed on the sale of 12 other properties in the Charlotte and Winston-Salem areas, including:

Charlotte
  • 125 Queens Road in Charlotte
  • 16525 Holly Crest Lane in Huntersville
  • 522 Corporate Circle in Salisbury
  • 6909 Prosperity Church Road in Charlotte
  • 1955 and 1965 South Route 29 in China Grove
  • 1700 Matthews Township Parkway in Matthews
Winston-Salem
  • 1710 Kernersville Medical Parkway in Kernersville
  • 1730 Kernersville Medical Parkway Kernersville
  • 190 Kimel Park Drive in Winston-Salem
  • 167 Moore Road in King
  • 6431 Old Plank Road in High Point
  • 2085 Frontis Plaza Blvd. in Winston-Salem
Novant bought New Hanover Regional Medical Center in a nearly $2 billion deal that closed in February 2021. 
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