Nashville, Tennessee-based real estate investment firm Montecito Medical Real Estate announced that it has acquired a Texas medical office building (MOB).
The 31,247-square-foot building is in the Dallas suburb of Plano. The building is tenanted by five medical providers and is anchored by Dallas Neurological and Spine.
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.
This acquisition marks Montecito’s 15th transaction in the Dallas-Fort Worth MSA over the last two years. The financial terms of the acquisition were not disclosed.
According to data captured in the LevinPro HC database, this acquisition represents the 24th MOB transaction in 2023. This is also Montecito’s fifth transaction of the year, adding 194,552 square feet and 10 facilities to its portfolio. In 2022, Montecito completed 43 transactions.
