FOR IMMEDIATE RELEASE
January 15, 2021
Nashville, Tenn. — Montecito Medical Real Estate, a premier owner of medical office properties throughout the U.S., has completed the acquisition of two medical office buildings occupied by Northern Ohio Medical Specialists (NOMS).
The two properties — located in Clyde and Sheffield, Ohio, respectively — represent a combined total of nearly 64,000 square feet. The Sheffield facility, with 40,782 square feet, was constructed in 1999, while the 23,000 square-foot Clyde MOB was completed in 2019. Both buildings are fully leased to NOMS, a large, independent multi-specialty physician practice group.
“With this strategic acquisition, we are expanding our holdings in Ohio to eight medical office properties totaling more than 300,000 square feet,” said Chip Conk, CEO of Montecito Medical Real Estate. “We are excited about the opportunity to build on our relationship with North Ohio Medical Specialists as our long-term tenant for these two prime properties, and we look forward to additional opportunities to partner with NOMS to help them make the most of their medical real estate.”
Established in 1999, NOMS Healthcare is a major provider across Northern Ohio, with 45 locations and more than 260 providers in 30 different medical specialties.
At the Clyde location, NOMS provides a range of healthcare services, including audiology, behavioral health, ENT, family medicine, internal medicine, orthopedics and physical therapy. NOMS providers at the Sheffield location offer care in allergy and immunology, family practice, imaging/radiology, neurology, orthopedics and podiatry.
Sheffield is an affluent bedroom community 12 miles west of the city center of Cleveland, while Clyde is a growing community in Sandusky County, just 10 miles from the flagship building for NOMS that Montecito acquired earlier in December.
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 31 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
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