Montecito stayed on top of this complex transaction every step of the way that ultimately led to a very successful closing.
HMG voted to support the sale because of Montecito’s unique, creative deal structure. The group master-leased all six buildings in the portfolio on a triple-net (NNN) basis.
SOFHA physicians voted to sell the assets to Montecito Medical under the proposed deal structure.
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Within days, Montecito presented an offer to the seller and closed all-cash within 45-days