Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a 34,369 square-foot building in Indianapolis, IN.
The building is tenanted by the Midwest Center for Joint Replacement, which uses the property for orthopedic clinical care, orthopedic surgeries and physical therapy.
“This is an outstanding real estate asset that offers key attributes we seek, including a great location and long-term tenancy by a leading specialty provider,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Midwest Center for Joint Replacement is the dominant orthopedic group within a 10-mile radius of the property’s location on the southwest side of Indianapolis. The group maintains an additional location in Bloomington, IN. The practice’s surgeons are recognized as national leaders in outpatient joint replacement surgery.
Earlier in December, Montecito acquired three other medical office properties in Indiana, in addition to the company’s four acquisitions in the state in 2020 and 2021. “As we expand our footprint in both the Indianapolis market and across the state of Indiana, we are excited about our growing opportunities to empower medical office owners and provider groups to build wealth while building stronger practices,” said Chip Conk, CEO of Montecito Medical.