Montecito Medical Acquires Medical Office Portfolio in Indiana

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NASHVILLE, Tenn.--(BUSINESS WIRE)--May 8, 2023--

Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a five-building medical portfolio in Elkhart, IN.

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Elkhart Clinic - Elkhart, IN (Photo: Business Wire)

The buildings, which represent approximately 124,000 square feet, are 100% occupied by the Elkhart Clinic.

“We are thrilled to add these medical office assets to our portfolio and for the opportunity to build a long-term relationship with one of the area’s most prestigious medical providers,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.

Fairfield Advisors advised the seller and worked closely with Montecito to successfully complete the transaction.

With eight locations and 35 physicians on staff, the Elkhart Clinic is the area’s dominant family medicine practice. The group, founded more than 65 years ago, offers care in various specialties including oncology, internal medicine, neurology, ENT, cardiology and ophthalmology.

The transaction builds on Montecito’s acquisition of seven other medical office buildings in Indiana over the past six months. “As we continue to expand our portfolio across this state, we are excited by the level of interest we are seeing from providers and other medical office owners looking for opportunities not only to make the most of their real estate but to build wealth and stronger practices through AI-powered technology solutions,” 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 partnering with physicians and developers to fund development of medical real estate. 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 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. For more information, please visit www.montecitomac.com.

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CONTACT: Brandi Meeks

VP of Marketing

[email protected]

KEYWORD: INDIANA TENNESSEE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: HEALTH OTHER CONSTRUCTION & PROPERTY PRACTICE MANAGEMENT OTHER HEALTH COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT

SOURCE: Montecito Medical

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PUB: 05/08/2023 06:12 PM/DISC: 05/08/2023 06:12 PM

http://www.businesswire.com/news/home/20230508005762/en