Chestnut Funds Announces Majority Interest Investment by Anchor Health Properties, Forming Anchor Health Capital
(Chattanooga, TN) — Chestnut Funds, a healthcare real estate investment manager, announced today that Anchor Health Properties (Anchor), a national, full-service healthcare real estate development, management, and investment company focused exclusively on medical outpatient buildings and specialty healthcare facilities, has acquired a majority interest in the firm. The transaction represents a strategic alignment rooted in a shared vision for long-term value creation and purposeful growth. Following the transaction, Chestnut Funds will operate as Anchor Health Capital, a fund advisory and investment management subsidiary of Anchor Health Properties.
“This transaction formalizes a longstanding partnership between Chestnut and Anchor,” said Steen Watson, Co-Founder of Chestnut Funds and now President of Anchor Health Capital. “By bringing the firms together into a single, vertically integrated platform, we are aligning capital, development, and operations in a way that strengthens execution, enhances risk management, and better serves both investors and healthcare providers.”
Since 2014, Chestnut Funds and Anchor Health Properties have partnered on multiple investments and co-managed funds supporting the acquisition and development of nearly 100 healthcare facilities. Capital from Chestnut Funds has been invested in assets acquired or developed by Anchor, totaling approximately $2 billion in value. The combination of the two firms positions Anchor Health Capital to operate within Anchor’s national development and operating platform while continuing to focus on disciplined investment management and long-term alignment with health system and private provider partners.
Steen Watson will continue to lead day-to-day management and oversight of Anchor Health Capital’s investments and team in his role as President.
“Integrating the Chestnut platform into Anchor enhances our investment management capabilities and expands the ways we can deploy capital across healthcare real estate,” said Ben Ochs, Chief Executive Officer of Anchor Health Properties. “Anchor Health Capital enables a more integrated approach between investment management, development, and operations, strengthening our ability to support healthcare facilities nationwide.”
Chestnut Funds was advised by Miller & Martin PLLC and Oaklyn Consulting, LLC during the transaction process. Anchor Health Properties was advised by Moore & Van Allen PLLC.
About Anchor Health Capital
Anchor Health Capital is a healthcare real estate investment manager focused on the disciplined deployment of capital across a range of healthcare property types. Since 2012, the firm (formerly Chestnut Funds) has sponsored multiple commingled healthcare real estate funds and offers both direct and co-investment opportunities. Anchor Health Capital leverages deep sector knowledge, discretionary capital, and a vertically integrated approach to sourcing, underwriting, and asset management. The firm is a subsidiary of Anchor Health Properties and is headquartered in Chattanooga, Tennessee.
For more information, please visit: www.anchorhealthcapital.com.
About Anchor Health Properties
Anchor Health Properties is a national, full-service healthcare real estate development, management, and investment firm serving investors and health systems. Leveraging our collective experience and resources, our nimble, and thoughtful team of professionals develop and deliver tailored, client-specific solutions to respond to today’s healthcare challenges – thinking outside the “medical outpatient box.” With more than $2B of completed development projects, 9M square feet under management, and $3.2B invested in stabilized healthcare facilities, Anchor continues to create a better healthcare experience for patients and a competitive edge for our clients. Anchor maintains multiple offices nationwide and features more than 100 professionals in its ranks. Healthcare today calls not only for new and more efficient ways of delivering healthcare services, but also a different kind of healthcare real estate company.
For more information, please visit: www.anchorhealthproperties.com.