Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 12,600-square-foot medical office building in West Allis, Wisconsin.
The Lincoln Avenue Health Center building is 100% leased to Medical College of Wisconsin, a market-dominant group in the Greater Milwaukee area.
“We are delighted to acquire this well-positioned medical real estate asset and to enter into a long-term relationship with one of the region’s most respected healthcare providers,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Medical College of Wisconsin (MCW) physicians and practitioners provide primary and specialty care at many hospitals and clinics in metro Milwaukee and eastern Wisconsin. The group is part of the Froedtert & MCW health network, which includes five hospitals, one of which is a nationally ranked academic medical center. The network’s 1,700+ physicians and nearly 40 health centers and clinics draw patients from throughout the Midwest and the nation.
“We are pleased to expand our presence in Wisconsin through this acquisition in one of the fastest growing markets in the country,” said Chip Conk, CEO of Montecito Medical.