Montecito Medical Real Estate announced on March 19 that it has acquired two buildings in the Milwaukee suburb of Germantown, Wisconsin.
The two adjacent properties encompass a total of 92,573 square feet. The medical office building (MOB) portfolio is 100% occupied by Advocate Aurora Health, the third-largest nonprofit, integrated health system in the United States, operating more than 65 hospitals and 1,000 care sites. Providers at both properties deliver a wide range of health services. One of the buildings includes an ambulatory surgery center with six operating rooms and MRI/CT imaging.
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 billion in medical real estate.
“This marks our second medical office acquisition in the Milwaukee area in the past six months and our fourth since late 2020,” said Chip Conk, CEO of Montecito Medical. “We continue to invest in this market because of its attractive fundamentals and pursue new opportunities to help medical office owners make the most of their real estate.”
