News Release: Montecito Medical Acquires Two Wisconsin Medical Office Buildings Occupied by State’s Leading Care Provider

Franklin Surgery Center, Franklin, WI. (Photo courtesy of The Surgery Center LLC)

NASHVILLE, Tenn.–(BUSINESS WIRE)–Montecito Medical, a premier owner of medical office properties throughout the U.S., has recently completed the acquisition of a portfolio of two, Class-A medical office buildings with ambulatory surgery centers in the greater Milwaukee, Wisc., area. The facilities total 129,629 square feet and are 100% master-leased to Aurora Healthcare, the largest provider of inpatient and outpatient care in Wisconsin.

“They perfectly complement our growth plans and commitment to focus on acquiring best-in-class medical real estate nationwide.”

“Aurora’s excellent reputation and financial strength are second to none,” said Chip Conk, Chief Executive Officer of Montecito Medical. “The unparalleled healthcare services that both facilities offer are integral to maintaining Aurora Health Care’s standard of excellence and continuum of care in Wisconsin.”

The portfolio is anchored by two ambulatory surgery centers that provide patients with a convenient, cost-effective setting for a wide range of outpatient surgical procedures that do not require overnight hospitalization. Both facilities are integral to maintaining Aurora Health Care’s standard of excellence and are equipped with state-of-the-art equipment and technology.

• Built in 2001, the 66,638 square-foot Aurora East Mequon Surgery Center in Mequon includes five operating suites, an imaging room and two X-ray rooms.
• In Franklin, the 62,991 square-foot Franklin Surgery Center, built in 2002, includes four operating suites and two imaging rooms.

In addition to general surgery, other surgical services provided by Aurora include gastroenterology, orthopedics, ENT, urology, podiatry, cosmetic and reconstructive surgery, pediatrics and vein.

Aurora Healthcare is a private, not-for-profit, integrated health care provider headquartered in Milwaukee, Wisc., that is comprised of 14 wholly owned hospital facilities, more than 150 physician clinic facilities, approximately 70 pharmacies, a home health organization, and approximately 1,700 employed physicians. Aurora is among the largest private employers in the state with more than 31,000 employees.

“This strategic acquisition represents the first two medical office buildings/ASC’s in Wisconsin to join our rapidly expanding, high quality portfolio,” Conk said. “They perfectly complement our growth plans and commitment to focus on acquiring best-in-class medical real estate nationwide.”

Since inception, Montecito has acquired 104 buildings valued at over $1.7 billion.

About Montecito Medical Real Estate

Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and funding the development of medical real estate. Montecito is a leading resource for both real-estate owners and healthcare providers seeking to monetize or expand their holdings. Montecito has offices in Nashville, Tenn., Austin, Tex., and Orange County, Calif. Since 2005, the company has acquired more than 102 medical office buildings or $1.7 billion in medical real estate, totaling over 5 million square feet in 25 states. To date, Montecito has more than $1 billion in capital available to expand holdings in its medical office portfolio throughout the United States. Its current portfolio and healthcare system relationships include UCLA, Cleveland Clinic, Johns Hopkins, Holston Medical Group, Carolinas Health System, Bon Secours, Maine General, EmergeOrtho and State of Franklin Healthcare Associates.