Montecito Medical, a leading buyer of medical office properties, has acquired a multi-specialty medical office building in Chandler, Arizona. The single-tenant property, which offers nearly 66,000 square feet, is occupied by Banner Health, one of the nation’s largest not-for-profit health systems.
“We are excited to add this outstanding medical office asset and to have the opportunity to build on our relationship with Banner Health,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Banner Health, Arizona’s largest employer, operates more than 30 hospitals and numerous specialized facilities across six states. The medical office property acquired by Montecito is situated across from Banner’s 124-bed Ocotillo Medical Center.
“This acquisition is one of the highlights of a very strong fourth quarter for our company,” said Chip Conk, CEO of Montecito Medical. “Our pipeline for 2025 is robust, and we continue to pursue new opportunities to partner with health systems and other medical office owners across the country.”
