On October 14, Montecito Medical Real Estate announced that it acquired a medical office building (MOB) in Uniontown, Pennsylvania. The financial terms of the acquisition were not disclosed.
Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate.
The building consists of 17,865 square feet and is fully occupied under long-term lease agreements by two medical tenants: U.S. Digestive Health and Southwestern Endoscopy Center.
The Uniontown acquisition continues Montecito’s expansion in Pennsylvania, where the company has acquired five other medical properties in 2022. According to the LevinPro HC database, the transaction marks Montecito’s second acquisition in October and 40th of the year. In 2022, Montecito has purchased more than 1.2 million square feet of medical office space across 55 facilities with disclosed prices reaching more than $32.95 million. Also, according to LevinPro HC data, this is the 17th MOB transaction of the entire year.
