Montecito Medical Acquires Medical Office Building in Cincinnati
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.
About Montecito Medical
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and partnering with physicians and developers to fund development of medical real estate. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs and build physician wealth. Since 2006, Montecito has completed transactions involving more than $5 billion in medical real estate. Headquartered in Nashville, TN, the company has been named for five consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. For more information, please visit www.montecitomac.com.