John Sheppard, M.D.
Virginia Eye Consultants
“When I was originally approached about selling our real estate assets, my answer was that I was not interested. As CEO of OrthoCarolina, I represent 160 physicians and 39 offices, so getting our group to agree to sell our real estate was challenging and complex. As we got to know the Montecito leaders, I started to see the benefits of considering a sale of our real estate assets. Coincidentally we had an interaction with them on a very contentious situation with a joint venture partner of ours in a property that Montecito owned. Chip and the staff of Montecito were fantastic to work with and very professional in helping us come to resolution of a difficult problem. This interaction led me to explore working with them further.” | Read Entire Letter of Recommendation >>
Bruce Cohen, M.D.
Chief Executive Officer
“We originally talked with Montecito in 2013 and thought they would be a good real estate partner for our group. However, we had an onerous defeasance on our loan. It took four years for the defeasance to burn off. Montecito was patient and handled the situation effectively and professionally. The executives at Montecito were always available to discuss the transaction when needed, walk us through the process, and answer any questions efficiently.” | Read Entire Letter of Recommendation >>
Frank S. York, Ill, CPA
Chief Executive Officer
“Montecito recently acquired three of the assets in our portfolio… and was flexible in allowing us to stagger the closing of the remaining three buildings to lesson our tax burden. They worked with us to overcome various hurdles that are a necessary part of large, complex, real estate transaction involving properties in multiple states with varying restrictions and approval processes.” | Read Entire Letter of Recommendation >>
HMG General Counsel
David P. Wilson, CCIM
Executive Vice President
“The experience with Montecito was a seamless and hassle-free transaction that allowed us to monetize the assets, re-invest in the acquiring entity and keep all property management. Clearly a win-win, which was why our physician group ultimately voted in favor of the sale.” | Read Entire Letter of Recommendation >>
James R Rouse, CPA
Chief Administration Officer
“We were able to maximize our return on the building by selling to Montecito Medical and to do so where we were able to re-invest back into the new entity buying it. It was important to many of our physicians to continue to have some level of ownership in the properties where they practice.”
CEO, State of Franklin
Johnson City, TN
“I would highly recommend Montecito Medical to anyone who is considering selling their medical real estate. The due diligence process was smooth and timely; Montecito did not re-trade any part of the Letter of Intent or contract; and they closed the deal on the exact terms of the contract. With their knowledge and experience of health systems, Montecito Medical was helpful in negotiating an extension to the leases with the hospital.” | Read Entire Letter of Recommendation >>
Gary A. Stewart, Jr.
“Montecito played a critical role in getting the hospital to amend their leases to allow me to sell both buildings and to capture the best possible economic terms. They actually negotiated with the hospital and allowed the hospital to make changes that they felt important to the existing leases.” | Read Entire Letter of Recommendation >>
Dirigo Capital Advisors
“We had some lease-up to get to 100 percent occupancy, and Montecito was able to work with us in capturing that value after the close of escrow. Also, I was offered and accepted the option of investing in the new entity that purchased the property, which has allowed me to have a second bite at the apple.” | Read Entire Letter of Recommendation >>
Stone Creek Company
Rancho Santa Margarita, CA
“Montecito was very experienced with complex negotiations involving a large health system like UCLA, and they were helpful in working closely with my company and UCLA (the only tenant in the building) in getting the deal closed…. I look forward to doing more transactions with Montecito Medical in the future.” | Read Entire Letter of Recommendation >>
Nautilus Group, Inc.
“Any owner considering selling their medical offices would be fortunate to have Montecito Medical as a buyer…. We valued Montecito’s reasonable due diligence process, and that they closed the deal on the terms of the purchase and sale agreement.”
SportsMed Properties, LLC