Montecito Medical, one of the nation’s most active investors in medical office real estate, has acquired five medical office properties in western Michigan.
The five buildings, which offer more than 152,000 SF, are situated in Grand Rapids, Big Rapids, Norton Shores, and Holland, Michigan respectively. Four of the properties are tenanted by OneOncology; the fifth is shared between OneOncology and the START Midwest Center for Cancer Research. All of the buildings are fully occupied.
“We are excited to acquire these five medical office assets and by the opportunity to build on our strong relationship with OneOncology as we continue to expand our footprint in the Upper Midwest,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
OneOncology is a physician-led platform focused on preserving the independence of affiliated practices while boosting their access to cutting-edge cancer care. The network comprises more than 1,750 physicians across 565 locations nationwide.
START is a global leader in cancer research focused on helping cancer patients gain access to clinical trials. Besides the START Midwest Center in Grand Rapids, the organization operates seven other geographically diverse locations in the US and seven others in Europe.
“OneOncology has become a valued partner for our company as we help organizations like theirs, along with hospitals and health systems, leverage their real estate assets to fuel growth and better serve their patients,” said Chip Conk, CEO of Montecito Medical.“This acquisition is a prime example of how we are executing on our acquisition strategy as a company.”
