Strategic acquisition supports growing demand for essential healthcare infrastructure in North Carolina's high-growth corridors

LEXINGTON, NC / ACCESS Newswire / July 21, 2025 / Blue Ridge Capital Fund (BRCF), in partnership with portfolio manager AB&B Commercial Real Estate, is proud to announce the acquisition of a strategically located 13,466-square-foot medical office building at 1370 Piedmont Drive in Lexington, North Carolina. Anchored by Triangle Family Dentistry, the facility strengthens BRCF's expanding Medtail portfolio and was acquired significantly below market replacement cost, reinforcing the fund's value-driven investment thesis in healthcare anchored real estate.

Key Investment Highlights

Strategic Fit in a Growing Market

Located near the intersection of I-85 Business and US Highway 64, the property benefits from strong visibility and access within a well-established commercial corridor. Surrounded by a balanced mix of residential and retail developments including shopping centers, offices, and service businesses, the area is expected to maintain stable demographics and continued demand for healthcare services. The building's location positions it well for long-term market acceptance and steady tenant performance.

Anchor Tenant Stability

Triangle Family Dentistry (operated by Light Wave Dental Management) has committed to a 10-year lease for 6,500 square feet , securing stable, long-term cash flow from a proven operator. Triangle Family Dentistry and its sister brand, Carolina Orthodontics and Children's Dentistry, is a leading provider of dental services in the North Carolina market, and this marks its 23rd location in the state.

Secondary Tenancy & Lease-Up Strategy

An established neurology group currently leases 2,560 square feet. Approximately 4,400 square feet remain available, with leasing targeted for completion by December 2025. Notably, an autism care provider has expressed early interest in the remaining space.

"We were able to acquire an off-market medical asset in a growing North Carolina market at significantly below replacement cost," said Gerhard Renner, General Partner of Blue Ridge Capital Fund. "By underwriting conservatively and focusing on essential-use assets like dental and medical offices, we're securing durable cash flow from day one, with strong initial tenancy in place and clear upside as we lease up the remaining space. This investment reflects our disciplined approach and the power of our partnerships."

Medtail Strategy & Portfolio Context

This acquisition reinforces BRCF's commitment to building scalable, high-performing portfolios of essential-use healthcare assets. The fund continues to expand its footprint with new dental clinic developments underway in Knightdale and New Hill, while also pursuing adaptive reuse opportunities across underutilized commercial properties in North Carolina.

Consistent with its disciplined approach, BRCF targets assets below replacement cost, secures long-term leases with creditworthy healthcare tenants, and drives value through proactive lease-up and hands-on asset management.

About Blue Ridge Capital Fund

Blue Ridge Capital Fund is a real estate investment fund focused on sustainable, healthcare-anchored commercial real estate in high-growth secondary and tertiary U.S. markets. The Fund emphasizes operational excellence, tenant stability, and disciplined underwriting. The acquisition of the Lexington, NC operation marks the 6th acquisition completed since the fund's launch in May 2024. For more information about the Blue Ridge Capital Fund, please contact: investor@brcfund.com.

About AB&B Commercial Real Estate

AB&B Commercial Real Estate (AB&B CRE) is a vertically integrated real estate fund management firm responsible for the acquisition, repositioning, and management of commercial properties across North Carolina. AB&B CRE serves as the property manager for 1370 Piedmont. For leasing inquiries, please contact leasing@abbcre.com.

Media Contact:
Quinn Novels
Blue Ridge Capital Fund
quinn@brcfund.com

SOURCE: Blue Ridge Capital Fund