FORT WORTH, Oct. 11, 2022 — Montecito Medical, a premier owner of medical office properties throughout the U.S., has completed the acquisition of a medical office building in Fort Worth, Texas, that is home to the area’s dominant urology group.
“We are pleased to acquire this prime property in a great market and for the opportunity to build on the long-term relationship we have established with this growing specialty medical provider,” said Rus Gudnyy, Senior Vice President, Investments for Montecito Medical.
The 37,000-square foot property, which includes two linear accelerators and three operating rooms, is 100% leased to Urology Partners of North Texas (UPNT). The property serves as the group’s hub and also houses its sister companies, Surgical Centers of North Texas and Texas Cancer Specialists.
“Urology Partners of North Texas, Texas Cancer Specialists, and Surgical Centers of North Texas are excited about expanding our partnership with Montecito with the sale of our new state-of-the-art, multidisciplinary medical professional building in Fort Worth,” said Bob Yonke, CEO of U.S. Specialists Management, LLC. “As our footprint with specialty practices continues to grow, our physicians and management team are pleased to have Montecito as our long-term real estate partner.”
Last year, Montecito also acquired a surgery center property in nearby Arlington that is leased by UPNT. The latest acquisition continues the rapid expansion of Montecito’s footprint in the Dallas/Fort Worth area. Since the beginning of 2021 the company has acquired medical office properties in Allen, Rockwall, Bedford, Mansfield, Sherman, Duncanville, The Colony and Sunnyvale.
“Texas is one of the fastest growing states in the country, and we are excited to grow along with it as physician groups seek to capitalize on their real estate to build stronger practices and better serve their patients,” 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 as a “key influencer in healthcare real estate” for four consecutive years by GlobeSt.com and the editors of Real Estate Forum. Chip Conk, the company’s CEO, 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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