Montecito Medical, one of the nation’s most active investors in medical office real estate, has acquired a medical office property in Midland, Texas.
The 23,000 SF building, which is 100% occupied, includes an ambulatory surgery center and an imaging center. Midland Ambulatory Surgery Center, which performs surgical procedures across a range of specialties, is the anchor tenant.
“We are pleased to announce this acquisition, which advances our strategy of partnering with well-established providers to acquire outpatient facilities that serve important and growing community needs,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Midland Ambulatory Surgery Center is a joint venture involving physicians, Midland Memorial Hospital, and United Surgery Partners International (USPI). Physician-owned Midland Imaging Center is the city’s only freestanding imaging facility and draws from a referral network across the Midland-Odessa area. The building’s other tenant is Anana Cholia, M.D., a board-certified cardiologist who has served the Midland community for over 30 years.
“For the past half-decade, Texas has been an important focus for our real estate investment activity,” said Chip Conk, CEO of Montecito Medical. “Our pipeline in the state remains robust, and we look forward to announcing additional acquisitions here in the coming weeks.”
