Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired another medical office building in Tucson, Arizona.
The property is fully occupied by the Pain Institute of Southern Arizona.
“We are excited to acquire another medical office asset in this dynamic marketplace but also for the opportunity to build a long-term relationship with another market-dominant specialty group,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Pain Institute of Southern Arizona is the region’s leading pain management practice. The group’s physicians have served patients for more than 20 years and maintain eight locations across the area.
The Pain Institute of Southern Arizona property represents the second acquisition by Montecito in Tucson in the past four months and the third in the state in 2023. “We continue to build on our extensive footprint in Arizona based on the abundant opportunities we are seeing to invest in medical properties here and help sellers make the most of their real estate,” said Chip Conk, CEO of Montecito Medical.