Montecito Medical Real Estate, based in Nashville, Tennessee, announced that it has expanded its presence in California with the purchase of a Roseville, California medical outpatient building (MOB) for $9.2 million.
The 25,000-square-foot MOB is fully leased to Sutter Health. The purchase price is roughly $368 per square foot. The facility was previously leased to UC Davis Medical Group, but Sutter plans to fully occupy the space in the first quarter of 2025. The building last sold in 2008 for $7.6 million.
Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving more than $5 billion in medical real estate across the United States.
According to a January 13 report from the Sacramento Business Journal, this is Montecito Medical’’s first acquisition in the Sacramento MSA.
According to data captured in the LevinPro HC database, this transaction marks the 12th MOB acquisition of 2025, and the second in California. This also represents Montecito Medical’s third acquisition of the year. Previously, it purchased a 36,678-square-foot MOB in Athens, Georgia and a four-building portfolio in Florida, totaling 48,000 square feet.
