FOR IMMEDIATE RELEASE
December 16, 2021
Nashville, Tenn. — Montecito Medical, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a seven-building medical office portfolio in the Dallas-Fort Worth Metroplex.
The properties, whose medical tenants range from gastroenterology practices to ambulatory surgery centers, collectively have approximately 115,000 square feet of rentable space. All of the buildings are 100% leased.
The portfolio includes medical buildings that are home to:
• Mansfield Endoscopy Center, operated by Texas Digestive Disease Consultants in Mansfield
• the flagship location in Rockwall of Orthopaedic Specialists of Dallas
• Texas Health Surgery Center in Denton
• Bedford Medical Plaza in Bedford, a multi-tenant property occupied by Texas Health Resources and Dallas Pulmonary and Critical Care
• a histology lab in Bedford operated by Texas Digestive Disease Consultants
• Texas Health Resources, which provides cardiac, vascular and imaging services at the Park Place Medical Center property in Arlington
• an endoscopy center operated by Texas Digestive Disease Consultants in Sherman
“This group of properties have the key attributes that are highly attractive to our company and our investors,” said Chip Conk, CEO of Montecito Medical. “They are well situated in suburban and exurban locations with strong market fundamentals, with long-term leases to medical tenants that are market leaders in their specialties. Many of the buildings are brand-new assets that opened in 2021.”
The portfolio acquisition continues the rapid expansion of Montecito’s footprint in Texas. In the past year the company has also acquired medical office properties in Arlington, San Antonio, Austin, The Woodlands, Corpus Christi, Tyler, Texarkana, Katy and Sunnyvale.
“Dallas is the fastest growing metro area in the nation’s fastest growing state,” Conk said. “Strategically, it is important for Montecito to be part of that growth. As we continue to build our presence in North Texas, we look forward to establishing more long-term relationships with providers and other owners of medical office properties seeking to make the most of their real estate opportunities.”
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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 medical real estate owners and healthcare providers seeking to monetize or expand their holdings. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. Headquartered in Nashville, TN, Montecito has been named as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. For more information about Montecito Medical, please visit www.montecitomac.com.
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