Medical real estate investment firm Montecito Medical announced its acquisition of the Northway Surgery and Pain Center property in Clifton Park, New York for $5.5 million.
The 10,000-square-foot Northway Surgery and Pain Center building was constructed in 2014 for around $1 million. Northway Surgery is a joint venture between physicians at Albany & Saratoga Centers for Pain Management and New York Pain Management. The price is $550 per square foot.
Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the United States involving more than $5.1 billion in medical real estate.
This is Montecito’s second property acquisition in New York. It acquired a property home to Ambulatory Surgery Center of Western New York in Amherst, New York in 2021.
According to data captured in the LevinPro HC database, Montecito has announced 19 transactions since the start of 2023. During 2022, Montecito announced 43 transactions.
