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Montecito Medical Acquires ASC in Dallas-Fort Worth MSA
Montecito Medical Real Estate announced on March 22 its acquisition of a 14,600-square-foot ambulatory surgery center (ASC) in Granbury, Texas. The property is 100% leased to Baylor Scott & White Surgicare in Granbury. Physicians at the multispecialty surgery center, which includes four operating rooms, perform gastroenterology, neurology, ENT, ophthalmology, orthopedics, urology, pain management and podiatry procedures. The acquisition in Granbury expands Montecito’s footprint in the greater Dallas-Fort Worth MSA. Since the beginning of 2021, the company has acquired 15 medical office properties in the region. Terms of the deal were not disclosed. Montecito Medical specializes in... Read More »
Rising Interest Rates, Banking Uncertainty Could Limit Capital Needed for Healthcare Real Estate M&A Activity
While healthcare real estate has proven to be an increasingly attractive investment in recent years, mergers and acquisitions deal volume in 2023 may fail to reach last year’s record. “We believe that overall volume will be healthy given the continued demand for healthcare real estate, but will be lower than previous years’ historic highs,” said Cornerstone Companies senior vice president of investments Ted Baker. His company’s holdings include approximately 55 medical office buildings and surgery centers with an aggregate value above $500 million. “My guess is that we see less of [the] larger trades and more single-asset deals [and] lower overall volumes,” Baker said. There were 120... Read More »
ELNA Medical Bolsters Private Care Network with Addition of Créa-MeD and Uni-Med Clinics
ELNA Medical announced the acquisition of two Montréal-based private clinics, Créa-MeD and Uni-Med. Both clinics will join ELNA’s growing private care network of five clinics throughout greater Montreal. Terms of the deal were not disclosed. Established in 2008 as one of Quebec’s first non-RAMQ (Régie de l’assurance maladie du Québec) clinics, Créa-MeD is a private medical clinic offering private family medicine and specialized care including comprehensive STI testing. Uni-Med offers access to private family medicine and women’s health services, including one of Quebec’s leading practices in hormone therapy. ELNA Medical is a Montreal-based company that brings... Read More »
Four Corners Property Trust Acquires New Mexico MOB
Four Corners Property Trust (FCPT) is acquiring an Aspen Dental property for $1.9 million. The property is located in a strong retail corridor in New Mexico and is corporate-operated. The transaction was priced at a cap rate in range with previous FCPT transactions. FCPT, headquartered in Mill Valley, California, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. In February 2023, FCPT announced its acquisition of a Heartland Dental property for $2.2 million.... Read More »
Woodside Health Expands Atlanta MSA MOB Footprint
Woodside Health has acquired Research Court, an 80,000-square-foot medical office building (MOB) in Suwanee, Georgia. This marks Woodside Health’s third acquisition in the Atlanta MSA and the 49th addition to its portfolio. Crossgate Partners sold the asset for an undisclosed price. Research Court encompasses two one-story buildings built in 2001 on a 6.4-acre site. The asset was 88% occupied at the time of the sale with its roster featuring medical and office tenants. The property is 30 miles from downtown Atlanta and has access to State Route 141. The property previously traded in 2020 when Crossgate bought it from Alta Properties for $10 million, financing the purchase with a $6.6... Read More »Schedule a demo
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