Company expands large and growing footprint in state
FOR IMMEDIATE RELEASE
July 25, 2022
Montecito Medical has completed the acquisition of a surgery center building in Lynchburg, Virginia.
The Surgery Center of Lynchburg property, which offers approximately 31,600 square feet, is, 100% occupied under a long-term lease.
“We are pleased to add an excellent surgery center property to our portfolio of medical real estate assets in Lynchburg, and we are excited to partner with the providers at this center who play a key part in the delivery of healthcare to this area,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.
The property includes three operating rooms and procedure rooms. Physicians perform procedures in a variety of specialties, including ENT, GYN, orthopedics, pain management, ophthalmology, urology and general surgery. The physicians in the group have the backing of Centra Health, a regional healthcare system based in Lynchburg. With more than 8,100 employees and a medical staff of nearly 800 providing care in 50 locations, Centra serves over 500,000 people as the dominant provider of critical medical services in central and southern Virginia.
The property is situated on the city’s west side, along a major corridor near US Highways 29 and 221, promoting convenient access to patients from a wide area. Lynchburg is the hub of the state’s fifth-largest MSA, with a growing population of more than 250,000.
The surgery center building acquisition continues the expansion of Montecito’s footprint in Virginia. In addition to two other medical properties in Lynchburg, the company also has acquired multiple buildings in Virginia Beach and suburban Richmond.
“Our company has deep roots in Virginia, and our continuing real estate investments in the state reflect both our knowledge of these markets and our belief in their solid fundamentals and opportunities for growth,” said Chip Conk, CEO of Montecito Medical.
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 for four consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. The company’s CEO, Chip Conk, was named Healthcare Real Estate Executive of the Year for 2021 by Healthcare Real Estate Insights. For more information about Montecito Medical, please visit www.MontecitoMac.com.
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