Montecito Medical, a premier owner of medical office properties throughout the U.S., has acquired two medical office buildings in Lake Charles, Louisiana.
The buildings offer a combined total of 54,417 square feet and are 100% leased. The larger of the two properties, with 41,000 square feet, is occupied by the Center for Orthopaedics. The Center also leases approximately one-half of the second building, while the CHRISTUS Ochsner St. Patrick Wound Center occupies the remaining space.
The properties are part of a master-planned development, Imperial Pointe, that includes medical and wellness facilities, retail, professional offices, restaurants, educational programs, a hotel and a variety of residential components, ranging from apartments to a gated subdivision to assisted living facilities. When the development is complete, Imperial Pointe residents will be within walking distance to all the services and medical care they need as they move through different stages of their life.
“We are pleased to have been selected as the buyer of these prime assets, which are part of a master-planned community focused on populations that are the largest consumers of healthcare services,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical. “We are especially pleased to begin a relationship with CHRISTUS Ochsner Health and with a respected orthopedic practice that is the area’s leading provider in its specialty.”
The Center for Orthopaedics is a dominant specialty group, with a service area that covers Southwest Louisiana and parts of Southeast Texas. The group’s 16 physicians provide care ranging from joint replacement and orthopedic surgery to sports medicine. In addition to its headquarters in Lake Charles, the group also operates satellite locations in Moss Bluff and Jennings, Louisiana.
The CHRISTUS Ochsner St. Patrick Wound Center is operated by CHRISTUS Ochsner Health Southwestern Louisiana, a joint venture formed by two large health systems in 2018 to serve people in the southwestern part of the state. At the Wound Center, physicians provide rheumatology and wound care services.
Josh Randolph and Colliers International represented the seller in the transaction.
The Lake Charles acquisition expands Montecito’s growing footprint in Louisiana. The company acquired medical office properties in Vidalia and Shreveport in the past year. “This is a growth area for us, and our pipeline includes other medical properties in the state,” said Montecito CEO, Chip Conk. “We are excited by the opportunities here to help physicians make the most of their medical real estate.”