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News Release: Montecito Acquires Fresenius Medical Office Property in Anchorage

April 24th, 2020

Nashville, Tenn.  — Montecito Medical Real Estate, a premier owner of medical office properties throughout the U.S., has announced that it has acquired a prime medical office building and surgery center in Anchorage, AK.

The property, which is 100-percent leased to affiliates of Fresenius Medical Care, encompasses nearly 18,000 square feet in rentable space. The building, which was built in 1981 and expanded and renovated to suit in 2019, includes a kidney dialysis clinic, physician clinical space, and a home dialysis therapies unit, which helps some patients transition to receiving their dialysis treatments at home. The renovations reflect Fresenius’ long-term commitment to this strategic property, for which the company signed a long-term lease.

“We are very excited to acquire this outstanding property, in a dynamic market with a very strong tenant,” said Chip Conk, CEO of Montecito Medical Real Estate. “This transaction expands both our footprint in Alaska, adding to our recent medical office acquisition in Wasilla, and our relationship with a respected name like Fresenius following our acquisition last month of a facility they now lease from us in Las Vegas.”

“Although most buyers of medical office properties are on the sidelines during this pandemic,” continued Conk, “Montecito is actively pursuing new opportunities that help healthcare providers access capital to meet the needs of the present and build for the future.”

Fresenius Medical Care, a Fortune Global 500® company, is a worldwide leader in dialysis services and products for the treatment of kidney disease. Through a network of over 2,400 facilities across the United States, the company provides outpatient dialysis and other related services to more than 190,000 patients.

The property is advantageously situated in southeast Anchorage and is adjacent to Providence Alaska Medical Center, a 401-bed hospital with the state’s only Level III intensive care unit. Several other medical facilities are near the facility, which is also less than a half-mile from the University of Alaska Anchorage and Alaska Pacific University. “In addition to a great location,” Conk said, “our analysis shows that Anchorage offers strong underlying dialysis fundamentals and is one of the nation’s top reimbursement markets. We are thrilled to be here.”

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., Austin, Tex. and Orange County, Calif. Since 2006, it has completed transactions in 30 states involving more than $3.86 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.

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