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Rethink Healthcare Real Estate and Heitman LLC Acquire Mansfield, Texas Medical Office Building

Rethink Healthcare Real Estate and Heitman LLC Acquire Mansfield, Texas Medical Office Building

by | Feb 2, 2023 10:58 am | Medical Office Buildings, Other Services

Rethink Healthcare Real Estate and Heitman LLC have acquired a Mansfield, Texas medical office building (MOB) in a joint venture. BlackBirch Capital acted as the exclusive financial advisor to the undisclosed seller. CIT, a division of First Citizens Bank, arranged the debt. The financial terms of the transaction were not disclosed.  The 36,101-square-foot building is leased to an emergency hospital, Emerus. Emerus is the nation’s leading operator of micro-hospitals and a nationally recognized leader in the delivery of emergency, inpatient and diagnostic medical healthcare. Founded in 1966, Heitman LLC is a global real estate investment management firm with approximately $53 billion... Read More »
Montecito Medical Real Estate Continues Its Texas Expansion

Montecito Medical Real Estate Continues Its Texas Expansion

by | Feb 2, 2023 10:58 am | Medical Office Buildings, Other Services

Nashville, Tennessee-based real estate investment firm Montecito Medical Real Estate announced that it has acquired a Texas medical office building (MOB).  The 31,247-square-foot building is in the Dallas suburb of Plano. The building is tenanted by five medical providers and is anchored by Dallas Neurological and Spine. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. This acquisition marks Montecito’s 15th transaction in the Dallas-Fort Worth MSA over the last two years. The financial terms of the acquisition were... Read More »
Montecito Medical Real Estate Acquires Tampa Medical Office Building for $10 Million

Montecito Medical Real Estate Acquires Tampa Medical Office Building for $10 Million

by | Feb 1, 2023 3:47 pm | Medical Office Buildings, Other Services

Montecito Medical Real Estate has acquired a medical office building (MOB) in Tampa, Florida, for $10 million. The 16,667-square-foot property sold for $600 per square foot. A team from Matthews Real Estate Investment Services represented the sellers, the partners of The Reproductive Medicine Group, in the transaction. The Reproductive Medicine Group will remain in its current location. Montecito Medical Real Estate specializes in healthcare-related real estate acquisitions and funding. Since 2006, it has completed transactions across the U.S. involving more than $5 billion in medical real estate. According to data captured in the LevinPro HC database, this acquisition marks the 21st MOB... Read More »
Rethink Healthcare Real Estate and Heitman LLC Acquire Mansfield, Texas Medical Office Building

JLL Advises the Sale of Two Cincinnati Medical Office Buildings 

by | Jan 31, 2023 1:00 pm | Medical Office Buildings

Azora Exan announced on January 30 that it acquired two medical office buildings (MOB) in Cincinnati for $78 million. 90 North Real Estate LLP, a real estate investment manager, was the seller. JLL represented both 90 North Real Estate and Azora Exan in the transaction. JLL also arranged the acquisition loan for Azora. The Offices at Vernon Manor is a seven-story, 156,000-square-foot building that was built in 1924 and renovated in 2011. Offices @ Vernon Place consists of 147,130 square feet and is a four-story building. It was completed in 2017. Both buildings are fully leased by Cincinnati Children’s Hospital. The price is approximately $257 per square foot. Founded in 2013, Azora Exan... Read More »
Montecito Medical Real Estate Acquires Tampa Medical Office Building for $10 Million

Will 2023 be the Year Medical Office Building M&A Activity Declines?

by | Jan 24, 2023 10:24 am | Medical Office Buildings, Other Services

Did transaction activity peak in 2022 in the medical office building (MOB) market? While that question will officially be answered at the end of this year, it may already be time to start thinking about the possibility of a drop in MOB deal activity in 2023. According to data captured from the LevinPro HC database, there were 214 MOB deals in 2022 and 160 MOB transactions in 2021. Alan Pontius, senior vice president and national director of Marcus & Millichap’s office, industrial and healthcare divisions, discussed headwinds that look to shape the MOB market in 2023. “We’ll probably see a flattening, even a modest decrease, in overall activity,” Pontius said. “In the first quarter of... Read More »
Montecito Medical Real Estate Continues Its Texas Expansion

​​Montecito Medical Acquires 6-Building MOB Portfolio in Kansas City Area

by | Jan 20, 2023 8:20 am | Medical Office Buildings, Other Services

Montecito Medical Real Estate, a leading acquirer of medical office properties nationwide, has completed its acquisition of a six-building medical office building (MOB) portfolio in the greater Kansas City marketplace. The seller and anchor tenant in the transaction were represented by Collin Hart and Marc Flynn of ERE Healthcare Real Estate Advisors. The portfolio acquisition expands Montecito’s footprint in the Kansas City area. Terms of the deal were not disclosed. The buildings, which total 95,769 square feet, are tenanted by Discover Vision Centers. The six properties are located in Kansas City, Olathe and Leawood, Kansas, as well as Raymore, Independence and Blue Springs, Missouri.... Read More »