Montecito Medical Real Estate announced on September 21 the acquisition of a 14,000-square-foot medical office building (MOB) in Tucson, Arizona for an undisclosed price. The acquisition of the property expands Montecito Medical’s existing footprint in Arizona.
The property is fully occupied by Arizona Urology Specialists, the region’s premier urology practice, serving patients at 10 medical offices throughout Phoenix, Scottsdale, Glendale and Mesa, Arizona. The group uses the MOB property to deliver a variety of urology-related services. The building includes specialized space that houses a Linear Accelerator and CT scanner.
Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5.1 billion in medical real estate.
According to data captured in the LevinPro HC database, this represents the 154th MOB transaction of 2023, as well as Montecito’s 31st MOB acquisition of the year. Montecito was the most active MOB acquirer during 2022, with 37 MOB deals announced, and 43 deals in total.
