Chicago, July 2021 – BMO Harris Bank’s Healthcare Real Estate Finance group announces that it has closed on a $17 million term loan for a Joint Venture arranged by Heitman (Heitman LLC), a global real estate investment management firm, and managed by Montecito Medical Acquisition Company. The BMO loan provided financing for the acquisition of a 100% occupied 91k SF medical office building in located in Richmond, VA.
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About Montecito Medical Acquisition Company
Since their establishment in 2006, Montecito has grown to become one of the largest privately held acquirers of medical real estate in the country. During this time, Montecito has acquired medical office properties in 31 states valued at more than $4.3 billion. Relying on a powerful, proprietary technology platform, Montecito is ushering in a new era in which big data, analytics and artificial intelligence converge to revolutionize healthcare real estate while providing physicians with financial and other valuable services that seamlessly come together in a new digital marketplace.
About Heitman
Founded in 1966, Heitman LLC is a global real estate investment management firm with approximately $46 billion in assets under management. Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies. Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations and corporations and individual investors. Headquartered in Chicago, with additional offices in North America, Europe, and Asia-Pacific, Heitman’s approximately 350 employees offer specialized expertise – from a specific discipline to local insight.
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