Montecito Medical, a leading buyer of medical office properties nationwide, has acquired a 36,678-square-foot medical office building in Athens, Georgia.
The property, which is 100% occupied, is tenanted by Piedmont Athens Regional Medical Center and is situated on the campus of Piedmont’s 427-bed Athens Regional Hospital.
With more than 44,000 employees across 1,750+ locations, Piedmont Healthcare serves communities that comprise 80% of Georgia’s population and cares for 3.7 million patients.
“We are thrilled both to add this outstanding, on-campus property and to enter into a long-term relationship with one of the Southeast’s largest and most respected nonprofit healthcare systems,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical. The property is advantageously situated in the heart of Athens’ medical corridor, near the University of Georgia campus and adjacent to the hospital in the Piedmont Health System that ranks second-highest in net patient revenue.
The Athens property represents Montecito’s fifth medical office acquisition in Georgia this year and the eleventh since the beginning of 2022. “We are excited to add to our fast-growing footprint in the state, and we expect to announce more acquisitions here in the coming weeks,” said Chip Conk, CEO of Montecito Medical.“
