Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a three-building portfolio in Northern Utah.
The properties, which encompass a combined total of 48,527 square feet, are anchored by Alpine Orthopaedic Specialists and 100% occupied. The buildings are situated in Logan, North Logan, and Brigham City, Utah, respectively. The property in Logan includes an ambulatory surgery center (ASC).
“We are thrilled to acquire this very attractive real estate portfolio and for the opportunity to build a relationship with a respected and innovative provider group like AOS,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Founded in 2000, Alpine Orthopaedic Specialists is a dominant specialty provider in the market, with 11 physicians and four locations across a service area that extends into Southern Idaho.
“As we expand Montecito’s real estate footprint in the Mountain West, we are excited to enter the Logan market area and to pursue additional opportunities to work collaboratively with providers not only make the most of their real estate but to enhance their operations and financial performance and build thriving practices,” said Chip Conk, CEO of Montecito Medical.
