FOR IMMEDIATE RELEASE
Nashville, Tenn. — Montecito Medical, one of the nation's most active investors in medical office real estate, has acquired a medical outpatient building in Gilbert, Arizona.
"We've been active in the Phoenix market for some time, and this acquisition is an exciting expansion of our footprint in the Southwest," said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical. "OrthoArizona is a market dominant orthopedic group, and we're pleased to add such a high-quality asset to our growing Arizona portfolio."
OrthoArizona is a physician-owned orthopedic and musculoskeletal care group headquartered in Phoenix, Arizona. Founded in 1994, the practice is home to more than 70 orthopedic specialists who provide care across sports medicine, joint replacement, spine, hand and wrist, foot and ankle, and related subspecialties through more than 23 offices across the Phoenix metropolitan area.
"We're thrilled to welcome OrthoArizona to our family of provider partners," said Chip Conk, CEO of Montecito Medical. "Phoenix is a market we've come to know well, and OrthoArizona's reputation for exceptional orthopedic care makes them an outstanding new partner. We look forward to building a long and mutually rewarding relationship in the years ahead."
The Gilbert property marks Montecito's 12th acquisition in the Phoenix metropolitan area, bringing the company's total investment in the market to nearly $220 million across approximately 489,000 square feet of medical office space. The newly acquired building spans 49,500 square feet and is fully occupied by OrthoArizona.
