FOR IMMEDIATE RELEASE
January 5, 2021
Nashville, Tenn. — Montecito Medical Real Estate, a premier owner of medical office properties throughout the U.S., has completed the acquisition of two recently constructed medical office buildings in central Indiana.
The two properties, located in Indianapolis and Franklin, are nearly identical in size and represent a combined total of 47,000 square feet of medical office space. The buildings were constructed on a build-to-suit basis and are 100% occupied with long-term leases.
“We are very pleased to have been selected as the buyer for these two outstanding properties,” said Chip Conk, CEO of Montecito Medical Real Estate. “And we are excited about expanding our rapidly growing footprint in the Midwest with a number of recent acquisitions. It is a true testament to our team, and to the seller’s strong organization, that we were able to complete this transaction during the busy holiday season amid a pandemic.”
Providers at both the Indianapolis and Franklin facilities offer a range of medical services, including primary care, family medicine and imaging. Physicians at the Indianapolis location also provide care in the specialties of pediatrics, women’s health and oncology, while those at the Franklin location serve patients in the specialties of orthopedics, pain management, neurology, sleep management, and podiatry.
The Indianapolis office building is advantageously located at 7255 Marsh Road on the city’s northwest side, near the junction of Interstate 65 and Interstate 465. The Franklin medical office is located at 990 SR-44, on the south side of the Indianapolis metro area. Both properties are strategically situated to be convenient to the group’s growing patient population.
The two acquisitions continued Montecito’s strong momentum in the fourth quarter of 2020.
“We are seeing tremendous interest from sellers of medical offices and ambulatory surgery centers,” Conk said. “December of 2020 was a record-setting month for our company, and that momentum is carrying forward in the form of agreements we have signed and deals now scheduled to close in early 2021.”
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, Tenn., and Orange County, Calif. Since 2006, it has completed transactions in 30 states involving more than $4 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.
Our mailing address is:
Montecito Medical Real Estate
3807 Cleghorn Avenue,
Nashville, TN 37215
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE