Chicago, January 27, 2022 – BMO Harris Bank’s Healthcare Real Estate Finance group announces that it acted as administrative agent and sole lead arranger on an acquisition loan for a joint venture led by KKR Real Estate Select Trust Inc. (“KREST”) and managed by Montecito Medical Acquisition Company. The BMO loan provided financing for the acquisition of 15 outpatient medical office buildings and ambulatory surgery centers totaling approximately 400,000 square feet. The properties are located across the southern United States in growth submarkets within Arkansas, Florida, Georgia, North Carolina, Tennessee, Texas and South Carolina. The Portfolio is over 99% leased to a mix of leading investment grade health systems and specialist medical groups in practice areas including orthopedics and ophthalmology, with a weighted average lease term greater than 10 years.
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About Montecito Medical Acquisition Company
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 Healthcare Real Estate Insights. For more information about Montecito Medical, please visit www.montecitomac.com
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