Montecito Medical Acquires Portfolio of Orthopedic Properties in Southeast Pennsylvania
Montecito Medical has completed the acquisition of two orthopedic medical office properties in East Norriton and Pottsville, PA.
The buildings are fully occupied under long-term lease by Premier Orthopaedics. The newly constructed East Norriton property opened earlier this year. With over 35 locations in the Greater Philadelphia region, Premier Orthopaedics is the area’s dominant practice group in its specialty.
“We are excited about the opportunity to acquire these two well-positioned buildings, one of which is brand new, and to work with the physicians of this market-leading orthopedic practice,” said Tyler Rhoades, Director of Acquisitions at Montecito Medical.
Earlier this year, Montecito also acquired two other medical office properties in eastern Pennsylvania. “We remain excited about the market fundamentals of the Philadelphia area and look forward to working with other medical office owners here to help them make the most of their real estate,” 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 funding the development of medical real estate. Montecito is a leading resource for both medical real estate owners and healthcare providers seeking to monetize or expand their holdings. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. Headquartered in Nashville, TN, Montecito has been named as a “key influencer in healthcare real estate” for four consecutive years by GlobeSt.com and the editors of Real Estate Forum. Chip Conk, the company’s CEO, was named Healthcare Real Estate Executive of the Year for 2021 by Healthcare Real Estate Insights. For more information about Montecito Medical, please visit www.montecitomac.com.