Investors · Track Record
A Two-Decade Track Record of Results for Investors
Montecito has done one thing since 2006: buy individual medical outpatient buildings leased to the physicians and health systems that practice in them, aggregate them into portfolios institutional buyers want, and return the proceeds. Five funds and more than $7 billion later, the model is the same.
Twenty Years, One Asset Class
2006: A Focused Bet
Montecito grew out of the Conk family’s 40-plus years in real estate. Before Montecito Medical, the founders built Montecito Property Company, acquiring more than $2 billion in multifamily communities across 14 states. Then they made a focused bet: outpatient medical office, and nothing else, at a time when few institutional investors recognized the asset class.
Individual Assets, Institutional Portfolios
Rather than buying portfolios, Montecito bought buildings one at a time, from the physicians who owned them, and aggregated them. Portfolios are worth more to institutional buyers than single assets, and that spread, together with hands-on asset management during the hold, is how the funds have created value for investors.
The Most Active Buyer in the Asset Class
Since 2020 Montecito has been the most active U.S. buyer of individual medical office properties, acquiring between $500 million and $1 billion of buildings a year. In 2025 the company closed nearly $1.1 billion of medical outpatient acquisitions.
From Buyer to Growth Partner
Capital is a commodity. What is not is twenty years of provider trust and a data platform no other medical real estate owner has built. Atlas now sources off-market buildings from the practices it serves, and 40% of transactions are with repeat clients, which is why Montecito’s funds continue to see buildings other buyers do not.
Montecito Medical Office Funds
| Fund | Status | Buildings | Square feet | Occupancy |
|---|---|---|---|---|
| Fund I | Realized | 25 | 439,700 | 97.80% |
| Fund II | Active | 31 | 661,285 | 98.50% |
| Fund III | Active | 98 | 2,116,266 | 99.00% |
| Fund IV | Active | 122 | 3,549,245 | 100.00% |
| Fund V (so far) | Current Fund | 6 | 159,748 | 100.00% |
Fund facts, terms, and performance are provided in the confidential memorandum to qualified investors on request.
Who Invests With Montecito
Institutional Investors
U.S. state pension funds, insurance companies, Canadian pension plans, and sovereign wealth funds, with relationships that span the globe.
Physicians
Qualified, accredited physician investors, many of them tenants and co-investors who have seen the model work in their own buildings.
Partner Practices
Physician groups and their leadership who invest in the funds after partnering on their own real estate, as EmergeOrtho’s physicians and leadership have.
Recognition
9x GlobeSt.com Key Influencer in Healthcare Real Estate
Named every year from 2018 through 2026.
Healthcare Real Estate Executive of the Year, 2021
Chip Conk, Healthcare Real Estate Insights (HREI).
GlobeSt.com Key Influencer in Commercial Real Estate Technology
For the Montecito Medical Business Solutions platform that became Atlas.
Request the Fund V Memorandum
For institutional and qualified accredited investors.
Speak With Our Capital Markets Team
Our Trusted Partners
Long-term relationships with leading physician groups across 40 states.
