Montecito Medical announced on October 23 the acquisition of a 32,711-square-foot medical office building (MOB) in Woodbury, Minnesota.
The building is home to Minnesota Women’s Care, a leading specialty group serving patients throughout the Twin Cities area and western Wisconsin. The women’s health group maintains four office locations across its service area.
Montecito Medical Real Estate 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.
Through this MOB acquisition, Montecito expands its presence in Minnesota and the Upper Midwest. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this represents the 169th MOB transaction of 2023, as well as Montecito’s 34th MOB acquisition of the year, and it’s first in the Twin Cities area. During 2022, Montecito announced 37 MOB deals across the United States.
