BGO Snaps Up 11-Property Surgery Center Portfolio
The portfolio spans 223,000 square feet across nine markets
By Amanda Schiavo September 30, 2026 2:18 pm
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A joint venture of Flagship Healthcare Properties and AEW Capital Management have sold a 100 percent leased, 11-property portfolio of surgery centers across the U.S. to BGO, the buyer announced Wednesday.
The portfolio spans 223,000 square feet across nine markets: Dallas-Fort Worth; Chicago; St. Louis, Mo.; Nashville, Tenn.; Lakeland-Winter Haven, Fla.; Columbia, S.C.; Huntsville, Ala.; Kalamazoo-Portage, Mich.; and Prescott, Ariz. Flagship will continue to manage the properties for BGO.
One of the properties in the portfolio is Tri-City Surgery Center in Prescott, which spans 12,718 square feet and has three operating rooms and one procedure room.
The purchase price for the portfolio was undisclosed. A spokesperson for BGO declined to comment, while CBRE, which brokered the deal for the sellers, did not immediately respond to a request for comment.
The health care properties feature specialized surgical infrastructures for a range of outpatient procedures, such as practices in ophthalmology, orthopedics, gastroenterology, ENT, podiatry, plastic and reconstructive surgery, pain management, urology and endoscopy.
“We have strong conviction in ambulatory surgery centers as an increasingly important part of the U.S. health care delivery system, and we’re pleased to add a portfolio of this scale and geographic breadth to our U.S. core strategy,” Michael Keating, managing partner at BGO, said in a statement. “We also appreciate the work Flagship Healthcare Properties and AEW Capital Management have done to assemble and steward these assets, and we look forward to working closely with Flagship as it continues to manage the properties on our behalf.”
CBRE’s Chris Bodnar, Brannan Knott, Zack Holderman, Anthony Sardo, Cole Reethof and Jesse Greshin represented the sellers in this deal, while Goodwin Procter served as BGO’s legal counsel.
It’s not BGO’s first foray into the health care real estate scene. In May, the investment management firm, formerly known as BentallGreenOak, acquired a medical office building in Riverview, Fla., and in January it bought Lahey Medical Center, an outpatient facility in Londonderry, N.H. BGO also partners with Anchor Health Properties to acquire and manage several other properties across the U.S.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
