Montecito Medical, one of the nation’s most active investors in medical office real estate, has acquired two medical office properties in Willow Park, Texas, part of the Dallas-Ft. Worth Metroplex.
The neighboring buildings—an orthopedic ambulatory surgery center and a multispecialty medical office facility—offer a total of over 42,200 SF and are fully occupied. The tenant mix represents a joint venture that includes THR Health System, Surgical Care Affiliates, and the physicians who staff the ASC.
“We are pleased to expand our real estate partnerships with THR as we execute our strategy to enter into long-term tenant relationships with prominent provider groups in robust markets like DFW,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Texas Health Resources is a faith-based, nonprofit health system that cares for more patients in North Texas than any other provider. The system serves over 7 million people across 16 counties, with 29 hospitals and more than 26,000 employees.
“The DFW Metroplex is important to our overall expansion strategy,” said Chip Conk, CEO of Montecito Medical. “In the past four years, we have acquired 17 medical office properties throughout the area, and we are actively pursuing new opportunities here.”
