Anchor Health Properties Acquires Chestnut Funds to Expand Investment Capabilities

Transaction launches Anchor Health Capital

CHARLOTTESVILLE, Va., Jan. 5, 2026 /PRNewswire/ — 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, announced today that it has acquired a majority interest in Chestnut Funds, a long-time investment partner. The transaction represents a strategic alignment rooted in a shared vision for long-term value creation and purposeful growth. Chestnut Funds will operate as Anchor Health Capital, a fund advisory and investment management subsidiary of Anchor Health Properties.

“This is a natural next step in a partnership that has been built over time,” shared Ben Ochs, Chief Executive Officer of Anchor Health Properties. “Bringing the Chestnut platform into Anchor formalizes a relationship built on more than ten years of shared values and consistent execution. The unified platform creates greater capital flexibility and supports our goals of scalable growth across healthcare real estate.” 

Since 2014, Anchor Health Properties and Chestnut Funds have partnered on multiple investments and co-managed funds to support the acquisition and development of nearly 100 healthcare facilities, building a proven track record defined by shared values, consistent execution, and long-term alignment. 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 enhances Anchor’s ability to responsibly deploy capital in support of healthcare facilities that support patient care and long-term alignment with health system and private provider partners. Steen Watson, Co-Founder of Chestnut Funds, will continue to lead day-to-day management and oversight of Anchor Health Capital’s investments and team in his role as President.

“Anchor Health Capital will offer vertically integrated investment services tailored to the needs of investors seeking exposure to the healthcare real estate sector,” added Steen Watson, Co-Founder of Chestnut Funds and now President of Anchor Health Capital.  “We are excited about the opportunities and projects that Anchor Health Capital will facilitate on behalf of the providers, patients, investors, and the communities we serve.”

Anchor Health Properties was advised by Moore & Van Allen PLLC during the transaction process. Chestnut Funds was advised by Miller & Martin PLLC and Oaklyn Consulting LLC.

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.

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

Contact: Rachael Hall
Director of Marketing & Communication
Anchor Health Properties
P: 410-310-9824 | E: rhall@anchorhealthproperties.com

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SOURCE Anchor Health Properties