Montecito acquires Peoria medical property
Montecito acquires Illinois medical building occupied by Springfield Clinic
Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 16,000-square-foot medical building in Peoria, Illinois.
The building is 100% occupied under a long-term lease by Springfield Clinic, a leading health provider in north central Illinois.
“We are excited to acquire this well-positioned medical asset for our portfolio and to establish a relationship with one of the largest and most respected providers in the state,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
The building includes an OB/GYN clinic, 26 exam rooms, two ultrasound rooms, a procedure room, and a designated lab space.
Founded in 1939 by five physician partners, Springfield Clinic is the second largest multispecialty medical practice in Illinois, with more than 650 physicians and advanced practice providers, 80 medical specialties and sub-specialties, and two million annual patient visits.
“We are thrilled to expand our medical real estate footprint in Illinois, and especially by the opportunity to build a partnership with Springfield Clinic that encompasses solutions beyond real estate that help physicians thrive 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 medical and veterinary real estate acquisitions and partnering with providers and developers to fund development of new properties. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs and build physician wealth. Since 2006, Montecito has completed transactions involving more than $5 billion in medical and veterinary real estate. Headquartered in Nashville, TN, the company has been named for five consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum.
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