Montecito Medical has completed the acquisition of a five-building medical portfolio in Elkhart, Indiana, marking its 16th deal of 2023.
The buildings, which represent approximately 124,000 square feet, are 100% occupied by the Elkhart Clinic. With eight locations and 35 physicians on staff, the Elkhart Clinic is the area’s dominant family medicine practice.
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.
Fairfield Advisors advised the seller and worked closely with Montecito to complete the transaction. The transaction builds on Montecito’s acquisition of seven other medical office buildings (MOBs) in Indiana over the past six months.
According to data captured in the LevinPro HC database, this represents the 78th MOB transaction of 2023. This is a slight increase from last year, when there were 73 MOB deals announced between January 1, 2022, and May 9, 2022.
