Charlestown Suites is a 16,490-square-foot multi-tenant medical office building located in New Albany, Indiana, acquired by Apta Investment Group in May 2022. Purpose-built to serve healthcare providers, the property is anchored by United Healthcare and positioned in a high-growth residential and commercial corridor surrounded by single-family homes, apartment communities, and retail centers.
This is an Apta-originated investment, sourced and sponsored directly by Apta Investment Group as part of our medical office building strategy. The property was 100% occupied at acquisition with a diverse and synergistic tenant mix of healthcare providers, delivering consistent occupancy and stable cash flow from day one.
New Albany sits directly across the Ohio River from Louisville, Kentucky, and has experienced consistent residential and commercial growth driven by population expansion and proximity to Louisville’s major employment base. The surrounding neighborhood provides a steady and growing patient population for the building’s healthcare tenants, creating durable demand for the property’s medical office space.
The investment thesis was grounded in the fundamentals that define medical office as an asset class: a purpose-built building, a nationally recognized anchor tenant, full occupancy, and a location embedded in a growing healthcare-consuming community. Medical office tenants sign longer leases, invest in their own buildouts, and move far less frequently than conventional office tenants, all of which support stable, predictable income across the hold period.
