On August 6, Montecito Medical Real Estate announced that it sold an ambulatory surgery center (ASC) in San Antonio, Texas. The buyer and purchase price were not disclosed.
The ASC, an 11,544-square-foot building, is 100% occupied by a surgery center operated in partnership between Surgery Partners and a local ophthalmologist. The building was completed in 2019.
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 billion in medical real estate. Montecito Medical is based in Nashville, Tennessee.
“We are seeing great interest from investors, and we are selectively taking advantage of opportunities to sell individual medical office assets and smaller portfolios even as we remain a very active acquirer of new properties,” said Chip Conk, CEO of Montecito Medical.
According to data captured in the LevinPro HC database, this acquisition marks the 21st ASC transaction of the year. Additionally, Montecito Medical has completed 14 acquisitions throughout the year, and this is the first transaction where the company acted as the seller.
