Montecito Acquires Northern Utah Orthopedic Medical Office Portfolio
Montecito Medical Real Estate, a leading acquirer of medical office properties nationwide, announced on May 16 its acquisition of a three-building portfolio in Northern Utah. The medical outpatient buildings (MOBs), which encompass a combined total of 48,527 square feet, are anchored and 100% occupied by Alpine Orthopaedic Specialists, a dominant specialty provider with 11 physicians and four locations across a service area that extends into Southern Idaho. The properties are situated in Logan, North Logan and Brigham City, Utah, respectively. The property in Logan includes an ambulatory surgery center. Montecito Medical specializes in healthcare-related real estate acquisitions and... Read More »
First Citizens Bank Funds $58.4 Million for Miami Medical Rehabilitation Facility
First Citizens Bank’s Healthcare Finance division has allocated $58.4 million in financing to Anchor Health Properties for the construction of a state-of-the-art, 92-bed inpatient rehabilitation facility in Miami, Florida. Set to encompass 96,000 square feet of rentable space, including an attached parking garage, the facility will be leased to a collaborative effort between Baptist Health South Florida and Lifepoint Health. It will specialize in acute rehabilitation services for conditions stemming from stroke, brain and spinal cord injuries, amputations, as well as neurological and orthopedic disorders. Baptist Health South Florida, one of the largest healthcare organizations in... Read More »
Insider’s Insight: Analyzing MOB Market Trends with Mindy Berman of JLL Capital Markets
Despite a recent uptick in M&A activity in Q1:24, the medical office building (MOB) market remains in flux. To understand the underlying dynamics, we spoke with industry expert Mindy Berman, Senior Managing Director in the Healthcare Capital Markets Group at JLL, a leading global commercial real estate and investment management company. JLL is the top capital markets intermediary in both the United States and globally, as well as the leading MOB broker in the United States. Between 2017 and 2022, JLL advised on 35% of all medical office sales, amounting to more than $7 billion in disclosed prices. The company has remained active since then, with 26 transactions announced during 2023,... Read More »
Montecito Medical Acquires MOB Portfolio in Wisconsin
Montecito Medical Real Estate announced on March 19 that it has acquired two buildings in the Milwaukee suburb of Germantown, Wisconsin. The two adjacent properties encompass a total of 92,573 square feet. The medical office building (MOB) portfolio is 100% occupied by Advocate Aurora Health, the third-largest nonprofit, integrated health system in the United States, operating more than 65 hospitals and 1,000 care sites. Providers at both properties deliver a wide range of health services. One of the buildings includes an ambulatory surgery center with six operating rooms and MRI/CT imaging. Montecito Medical specializes in healthcare-related real estate acquisitions and funding. Since... Read More »
Broward Health Buys MOB in Coral Springs, Florida
Broward Health has purchased a Coral Springs, Florida medical office building (MOB) for $11 million. The property last traded ownership for $5.8 million in 2018, so it has nearly doubled in value, reflecting the strong demand for medical office space in Broward County. The property is a 40,926-square-foot MOB located north of Broward Health Coral Springs. The five-story building was constructed on the 1.34-acre site in 1974. Broward Health is a public, non-profit health system operating more than 30 healthcare facilities. With more than 7,590 employees, Broward Health services all segments of the community through its four hospitals, a children’s hospital, seven primary care centers,... Read More »Schedule a demo
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