On September 23, Montecito Medical Real Estate announced that it acquired another medical outpatient building (MOB) in Texas.
The Midland, Texas MOB is 100% occupied and comprises 23,000 square feet. Midland Ambulatory Surgery Center is the property’s main tenant, but it also includes an imagery center and a cardiology practice.
Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions involving more than $6.5 billion in medical and veterinary real estate transactions.
This marks Montecito’s 22nd acquisition of 2025. The financial terms were not disclosed.
“For the past half-decade, Texas has been an important focus for our real estate investment activity,” said Chip Conk, CEO of Montecito Medical. “Our pipeline in the state remains robust, and we look forward to announcing additional acquisitions here in the coming weeks.”
According to data in the LevinPro HC database, this transaction marks the 153rd MOB deal of the year. So far, MOBs account for nearly 10% of the 1,539 healthcare transactions that have been reported in 2025. Throughout all of 2024, 213 MOB transactions were announced and 199 were reported in 2023. This deal also marks the 16th MOB to be purchased in Texas since the start of the year. In 2024, 28 MOBs transactions in Texas were reported.
