Montecito Medical Acquires Medical Office in Suburban Dallas
Montecito Medical has completed the acquisition of a medical office property in The Colony, Texas, that is tenanted by Texas Health Resources.
The 7,228-square-foot building, which opened in 2021, is, 100% occupied by Texas Health Family Care.
“We are pleased not only to acquire the brand-new asset but also to build on our relationship with Texas Health Resources,” said Luke Zarzecki, Acquisitions Associate at Montecito Medical. “This acquisition represents our continued investment in the North Dallas market.”
Texas Health Resources is a not-for-profit health system that delivers care to more patients in North Texas than any other provider. The system offers more than 350 points of access across the region, including 29 hospitals and over 100 outpatient facilities, surgery centers, imaging centers, behavioral health facilities and fitness centers.
The Colony is an affluent, lakeside suburb approximately 20 miles northwest of downtown Dallas. The Frisco/Colony/Prosper corridor is one of the fastest growing areas of the DFW Metroplex. The property is situated on a primary traffic artery, with residential and retail properties in the surrounding neighborhood.
The Colony acquisition continues the rapid expansion of Montecito’s footprint in North Texas. In the past year the company has also acquired medical office properties in Arlington, Denton, Allen, Bedford, Duncanville, Rockwall, Mansfield, Sherman and Sunnyvale.
“We are continuing to build a critical mass of properties in the DFW area because the market fundamentals are so strong,” said Chip Conk, CEO of Montecito Medical. “We anticipate announcing additional acquisitions in this area later in the year.”
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.