Montecito Medical acquires medical office properties in Richmond area

Montecito Medical, a leading buyer of medical office properties nationwide, has acquired a two-building medical office portfolio in the Richmond, Virginia, metro area. The buildings, which offer a combined total of 18,178 square feet, are tenanted by Dermatology Associates of Virginia and Pulmonary Associates of Richmond.

“We are thrilled to add these properties to our portfolio and to enter into a long-term relationship with two leading provider groups in the Richmond area,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.

Dermatology Associates of Virginia is a 12-physician group with a 55-year history and six locations in the Richmond metro area. Pulmonary Associates of Virginia is a 24-physician group with six area locations. Both are market-dominant providers in their respective specialties.

“As a company with deep roots in the Richmond area, we are delighted to grow our extensive footprint in this marketplace and to build on our long-standing relationships with medical office owners here,” 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 was named for six 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.
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