Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a 15,000-square-foot medical building in Cincinnati, Ohio.
The property is 100% leased to Bon Secours Mercy Health, a leading health system in the region.
“We are very pleased to acquire this outstanding medical real estate asset and to enter into a long-term relationship in Cincinnati with such a respected health system as Bon Secours Mercy Health,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
With more than 1,200 care sites and nearly 50 hospitals, Bon Secours Mercy Health is one of the nation’s largest health systems and the dominant provider within a 25-mile radius of Cincinnati. Bon Secours Mercy Health uses the property acquired by Montecito primarily for primary care and OB/GYN services.
Earlier this year, Montecito acquired two other medical office properties in the Cincinnati area, representing more than 130,000 square feet. “We are thrilled to expand our medical real estate investment in one of the country's fastest growing and demographically attractive markets,” said Chip Conk, CEO of Montecito Medical.