On July 22, Montecito Medical Real Estate announced that it acquired a medical outpatient building (MOB) in Warwick, Rhode Island.
The MOB comprises 67,186 square feet. The facility, which also doubles as a surgery center, is leased to two leading providers: Ortho Rhode Island, a physician-owned practice with statewide reach, and Spire Orthopedics, the largest orthopedic platform in the region.
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 18th transaction of 2025; this is also the company’s first acquisition in Rhode Island this year. The financial terms were not disclosed.
According to data in the LevinPro HC database, this transaction represents the 111th MOB acquisition of 2025. Throughout 2024, 212 MOB transactions were reported and 198 in 2023. Other buyers that have made acquisition announcements in 2025 include Woodside Health, Remedy Medical Properties, Elliott Bay Capital Trust and Crown MedRealty Partners.
