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 »
NewStreet Properties Acquires East Mesa ASC
NewStreet Properties, based in Omaha, Nebraska, announced on March 20 that it acquired an ambulatory surgery center (ASC) in East Mesa, Arizona. The property is located next to Banner Baywood Medical Center and was built in 2002. NewStreet Properties is a real estate investment firm. According to its website, as of March 2024, it owns more than 2.8 million commercial square feet and has more than $1 billion assets under management. The original press release notes that New Street Properties has plans to expand the property by building a 5,214-square-foot addition to the current ASC. The financial terms of the transaction were not disclosed. According to data captured in... Read More »
Kroger Sells Specialty Pharmacy Business to CarelonRx
Kroger, a Cincinnati-based supermarket chain, announced on March 19 the sale of its specialty pharmacy business to CarelonRx, a subsidiary of Indianapolis-based health insurer Elevance Health. Kroger’s specialty pharmacy serves patients with chronic illnesses that require complex care. Those illnesses include rheumatoid arthritis, growth hormone deficiencies, multiple sclerosis and bleeding disorders. Patients and prescribers work with skilled clinicians and access therapy programs through the specialty pharmacy to gain education, resources and counseling. Patients can also get help with side-effect management, financial assistance and personalized care. Kroger has owned the specialty... 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 »
Montecito Medical Acquires Two MOBs in Minnesota
Montecito Medical Real Estate announced on March 12 that it has purchased two medical office buildings (MOBs) in Minnesota, marking its third transaction of the year. The two MOBs, which encompass a total of 13,100 square feet, are located in the suburban communities of Maplewood and Apple Valley, Minnesota in the Minneapolis–Saint Paul MSA. Both are 100% occupied by Minnesota Women’s Care. Montecito Medical Real Estate 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. The acquisition of the MOB expands Montecito Medical’s presence in the... Read More »Schedule a demo
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