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News Release: Montecito Medical Acquires Surgery Center in Alaska

FOR IMMEDIATE RELEASE

December 18th, 2019

Nashville, Tenn. — Montecito Medical Real Estate, a leading owner of medical office buildings throughout the U.S., has finalized the acquisition of a premier medical office building and surgery center in Wasilla, Alaska.

The property, with just over 37,000 square feet, is 100 percent-occupied. The building’s anchor tenant is the Surgery Center of Wasilla, the only multi-specialty surgery center in the Mat-Su Valley. The center offers a full range of services including ENT, family medicine, general surgery, gynecology, orthopedics, plastic, vascular, spine, ophthalmology and urology. The state-of-the-art facility was constructed in 2017 and is equipped with the most advanced technology and surgical instrumentation for the group’s outpatient surgical and medical procedures.

With 90 percent of the surgeons in the Mat-Su Valley as stakeholders and operators within the facility, the Surgery Center of Wasilla is the dominant provider in its market area. In addition, all of the orthopedic surgeons in the Mat-Su Valley operate exclusively at this facility.

“This acquisition highlights our successful strategy of focusing on high-profile medical real estate that is home to best-in-class physician groups, even in smaller medical markets. explained Chip Conk, CEO of Montecito Medical. “Our talented team is excited to kick off 2020 with the addition of this premier surgery center and to establish a presence in the state of Alaska,”

“As we approach the end of another enormously successful year of medical real estate acquisitions, we are elated to have acquired a premier surgery center for our growing portfolio and establish a presence in the state of Alaska,” explained Chip Conk, CEO of Montecito Medical. “We are excited to kick off 2020 with the addition of this outstanding property.”

Several other healthcare tenants occupy the building, including Algone interventional Pain Clinic, Algone Regenerative Medicine, Alaska Foot and Ankle Specialists, Our Doctors Pharmacy, The Breadcrumb Café and Empower Physical Therapy.

Located on the northern point of Cook Inlet in the Matanuska-Susitna Valley, Wasilla is the sixth largest city in Alaska. The city’s population is just over 10,000 people according to the 2019 census. Wasilla is part of the Anchorage metropolitan area, which has a population of approximately 400,000. Wasilla also offers a strategic location between Anchorage and Fairbanks, the largest population centers and transportation hubs of South-Central Alaska.

“It has been a pleasure working with Montecito Medical, they are professional and easy to communicate with. They kept us apprised of the process and what was needed for the process to go smoothly. I do not think this sale process could have gone better,” said building assistant manager, Micky D. Boyer.

About Montecito Medical

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, TN, Austin, TX, Portland, OR and Orange County, CA. Since 2005, it has completed transactions in over 30 states involving more than $3.8 billion in medical real estate and totaling over six million square feet. 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, Urology of Virginia, Bon Secours, Maine General, EmergeOrtho and State of Franklin Healthcare Associates.

Chris Conk
O: 615.921.3847
C: 805.403.8862
E: ChrisConk@MontecitoMac.com

Bryan Brown
O: 615.921.3851
C: 336.399.7106
E: BBrown@MontecitoMac.com

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