Montecito Medical Real Estate announced on October 16 the completion of its acquisition of seven medical office buildings (MOB) in upstate South Carolina.
Concentrated in the Greenville and Clemson market areas, the seven properties represent a combined total of more than 88,000 square feet and are 100% occupied. Six of the buildings are occupied by Clemson Eye, a leading provider of eye health in upstate South Carolina. Carolinas Centers for Sight tenants the seventh property. Both practice groups are affiliated with Eye Centers of America.
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.
Healthcare Real Estate Advisors represented the undisclosed seller in the transaction. Montecito also announced acquisitions in Charleston and Columbia, South Carolina earlier in 2023. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this represents the 168th MOB transaction of 2023, as well as Montecito’s 33rd MOB acquisition of the year. During 2022, Montecito announced 37 MOB deals.
