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Miami firm buys West County medical building as it enters St. Louis market

"We have identified St. Louis as a key national market and hope to acquire additional core-critical health care properties in the near future"
Credit: SLBJ

ST. LOUIS COUNTY, Mo. — A Miami-based health care property holdings firm has bought a west St. Louis County medical center in what the firm says could be the first of more local acquisitions.

Flager Investments closed on its deal of 1050 Old Peres Road, home to Orthopedic Associates' main office and other health care groups, last month for an undisclosed price from Des Peres Square Real Holdings LLC. The more than 55,000-square-foot property was built in the late 1970s and was last renovated in 2000, research from real estate data site Reonomy shows.

Flager President and CEO Didier Choukroun told the Business Journal that his company will be working with Orthopedic Associates to "invest in significantly upgrading the facility." Company officials did not immediately respond to a follow up about the scope of investment.

"We have identified St. Louis as a key national market and hope to acquire additional core-critical health care properties in the near future," Choukroun said in an email.

The property investment, development, asset management and brokerage firm works with health care providers and operators to improve outpatient facilities, according to its website. In 2018, Fosun Health, a China-based investment company, acquired a majority stake in Flager.

Reonomy data shows the West County property is Flager's first in the state, and among a handful of Midwest properties under its management.

Click here for more stories from the St. Louis Business Journal.

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