Anchor Health Properties, a national company specializing in healthcare real estate development, management, and investment focused on medical outpatient buildings and specialty healthcare facilities, announced the acquisition of a majority interest in Chestnut Funds, a long-time investment partner. The deal reflects a strategic alignment based on shared goals for long-term growth and value creation. Following the acquisition, Chestnut Funds will operate as Anchor Health Capital, a fund advisory and investment management subsidiary of Anchor Health Properties.
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Ben Ochs, Chief Executive Officer of Anchor Health Properties, explained that the acquisition represents a natural evolution of a decade-long partnership. He stated that formalizing the Chestnut platform within Anchor strengthens the relationship built on shared values and consistent execution. The integration creates greater flexibility in deploying capital and supports the company’s goals for scalable growth across the healthcare real estate sector.
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Since 2014, Anchor Health Properties and Chestnut Funds have collaborated on multiple investments and co-managed funds, supporting the acquisition and development of nearly 100 healthcare facilities. Their partnership has resulted in investments totaling approximately $2 billion and has built a strong track record defined by shared values, reliable execution, and long-term strategic alignment. The combination of the two organizations enhances Anchor’s ability to invest responsibly in healthcare properties that support both patient care and sustainable relationships with health systems and private provider partners.
Steen Watson, Co-Founder of Chestnut Funds and now President of Anchor Health Capital, will continue to oversee day-to-day operations and manage the investment team. He stated that Anchor Health Capital will provide fully integrated investment services tailored to investors seeking exposure to healthcare real estate. Watson added that the new platform creates opportunities to support providers, patients, investors, and the communities in which they operate.
The transaction was supported by legal advisors Moore & Van Allen PLLC for Anchor Health Properties, while Chestnut Funds received guidance from Miller & Martin PLLC and Oaklyn Consulting LLC. The acquisition positions Anchor Health Properties and Anchor Health Capital to continue expanding their presence and impact in the healthcare real estate investment space.
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