NASHVILLE, Tenn., Nov. 17, 2022, (BUSINESS WIRE)–Montecito Medical™ has completed the acquisition of a women’s health medical office building in Lynchburg, Virginia.
The property, which offers 21,657 square feet, is 100% occupied under a long-term lease by Women’s Health of Central Virginia.
“We are pleased to enter in a sale-leaseback transaction with a leading specialty practice in this area, and for the opportunity to build a long-term relationship with the physicians who provide care at this outstanding property,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.
Women’s Health of Central Virginia is the dominant OB/GYN practice within a 25-mile radius of Lynchburg. At the property, the group provides a comprehensive range of women’s healthcare services.
Dana Hamric, CEO of Hamric Capital, arranged the transaction and served as the exclusive financial advisor to Women’s Health of Central Virginia.
The acquisition continues the expansion of Montecito’s footprint in Central Virginia. In addition to three 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’s core purpose is “Physicians take care of everyone. Montecito takes care of physicians.®” 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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