Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired two medical office buildings in the greater Milwaukee, Wisconsin, area.
The buildings total more than 70,000 square feet and are fully occupied by Children’s Hospital of Wisconsin. They are situated in the exurban communities of Delafield and Mequon, respectively.
“We are thrilled to add these two outstanding real estate assets to our portfolio and to enter into a relationship with such a respected healthcare leader as Children’s Hospital of Wisconsin,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Providers at the Delafield property, 20 miles west of Milwaukee, offer care in 18 pediatric specialties. The property includes imaging, an onsite pharmacy, and a sports medicine facility. At the Mequon location, 21 miles north of Milwaukee, Children’s Hospital offers care in 23 pediatric specialties.
Children’s Hospital of Wisconsin is the region’s only independent healthcare system dedicated solely to the health and well-being of children and is the leading children’s care provider in the state. The health system operates two hospitals, 21 primary care clinics, and 22 specialty clinics.
With the addition of the two Children’s Hospital properties, Montecito has now acquired seven medical office buildings in the Midwest in 2024, including four in Wisconsin. “We continue to be attracted to the excellent fundamentals we are seeing in these markets, and we are excited about expanding what is already a substantial footprint in the region,” said Chip Conk, CEO of Montecito Medical.
