CBRE announced on February 4 that it facilitated the sale of a HCA Surgery Center medical outpatient building (MOB) portfolio to Montecito Medical Real Estate. NexCore Group was the seller.
The portfolio is in Orem, Utah and Katy, Texas and comprises 65,054 square feet. The facilities also operate as outpatient surgery centers. Both assets are fully leased with an average weighted lease term of 13.8 years.
Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions totaling more than $6.5 billion in medical and veterinary real estate.
“This stabilized portfolio offers 14 years of WALT with 90% of its tenancy occupied by investment grade HCA Healthcare,” said Chris Bodnar, CBRE’s Vice Chairman of the U.S. Healthcare Capital Markets practice. “The strategic location in two of the nation’s fastest growing markets for healthcare assets, coupled with the extremely durable cash flow with the first lease expiration not occurring until 2035.”
The financial terms of the transaction were not disclosed. This marks Montecito’s fourth acquisition of the year.
According to data captured in the LevinPro HC database, this transaction represents the 33rd MOB acquisition of the year. There were 231 MOB deals reported throughout 2025, and 213 in 2024.
