Montecito Medical Acquires Medical Office Property in Milwaukee MSA
Montecito Medical announced on September 19 its acquisition of The Lincoln Avenue Health Center building in West Allis, Wisconsin. The acquisition of the property expands Montecito Medical’s footprint in the Milwaukee MSA. Financial terms of the deal were not disclosed. The Lincoln Avenue Health Center is a 12,600-square-foot medical office building (MOB). The building is 100% leased to Medical College of Wisconsin, a market-dominant group in the Greater Milwaukee area. 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... Read More »
SK Pharmteco Acquires Controlling Interest in Center for Breakthrough Medicines
SK Pharmteco, a division of South Korean conglomerate SK Inc., has acquired a controlling interest in the Center for Breakthrough Medicines. The Center for Breakthrough Medicines is a King of Prussia, Pennsylvania-based contract development and manufacturing organization (CDMO) specializing in cell and gene therapy. SK Pharmteco is based in Rancho Cordova, California. The company specializes in the production of active pharmaceutical ingredients, advanced intermediates and cell and gene therapy for the pharmaceutical industry. SK Inc., the investment arm of SK Group in Seoul, previously invested $350 million in the Center for Breakthrough Medicines in December 2021. The... Read More »
Mercy Health Acquires 3 Urgent Care Centers
On September 19, Colerain Urgent Care announced that it sold three of its urgent care centers to Mercy Health. According to data captured in the LevinPro HC database, this transaction represents the eighth urgent care acquisition of 2023. The urgent care centers are located in Fairfield, Hamilton and Colerain, Ohio. Each location measures approximately 2,800 square feet. The facilities have state-of-the-art X-ray equipment and laboratory services. The centers also treat common illnesses in children and adults. Part of Bon Secours Mercy Health, Mercy Health comprises six hospitals as well as 80 network locations and several urgent care locations. It ranks as the... Read More »
Montecito Medical Acquires Bartlett, Tennessee Medical Office Building
On September 12, Montecito Medical Real Estate announced its acquisition of a Bartlett, Tennessee medical office building (MOB) for $11.2 million, or $5.3 per-square-foot. This purchase is Montecito’s first in Shelby County and third in Tennessee, according to the company’s website. The seller, Bartlett MOB Partners LLC, originally purchased the property in 2017 for $236,000 and built the 21,000 square foot MOB that is on the property. The property is occupied by OrthoSouth, which is a network of orthopedic surgeons and physical therapy centers across the state. It is adjacent to Saint Francis Hospital-Bartlett. Montecito Medical Real Estate... Read More »
NUWAY Alliance Acquires Ramsey County Care Center to Relocate Cochran Recovery Services
NUWAY Alliance has acquired Ramsey County Care Center as the new location for Cochran Recovery Services (CRS). CRS is a part of NUWAY Alliance. According to data captured in the LevinPro HC database, this represents the 148th MOB transaction of 2023. This deal also marks NUWAY’s second transaction of the year. In August, the company acquired Arrigoni East and West, which provides housing for those going through substance abuse recovery programs. Located in Maplewood, Minnesota, Ramsey County Care Center operated as a nursing home for older adults from 1959 to 2022, when it closed. It features spacious bedrooms, several communal spaces, a full-service commercial kitchen and... Read More »Schedule a demo
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