Montecito Medical has completed the acquisition of a women’s health medical office building in Lynchburg, Virginia.The property, which offers 21,657 square feet, is 100% occupied under a long-term lease by Women’s Health of Central Virginia.“We are pleased to enter in a sale-leaseback transaction with a leading specialty practice in this area, and for the opportunity to build a long-term relationship with the physicians who provide care at this outstanding property,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical. Women's Health of Central Virginia is the dominant OB/GYN practice within a 25-mile radius of Lynchburg. At the property, the group provides a comprehensive range of women's healthcare services. Dana Hamric, CEO of Hamric Capital, arranged the transaction and served as the exclusive financial advisor to Women’s Health of Central Virginia.The acquisition continues the expansion of Montecito’s footprint in Central Virginia. In addition to three other medical properties in Lynchburg, the company also has acquired multiple buildings in Virginia Beach and suburban Richmond. “Our company has deep roots in Virginia, and our continuing real estate investments in the state reflect both our knowledge of these markets and our belief in their solid fundamentals and opportunities for growth,” said Chip Conk, CEO of Montecito Medical.
