Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 35,000-square-foot medical building in Richmond, Virginia. The two-story building is 100% occupied under a long-term lease by Virginia Women’s Center, a market-leading women’s health services provider.
“We are thrilled to build on our relationship with this highly respected practice group and to add this exceptional medical real estate asset to our portfolio,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
Alex Vidal and Jacob Halle of Marcus & Millichap’s National Healthcare Real Estate Sales Group represented the seller in the transaction.
In 2021, Montecito acquired another medical office property where Virginia Women’s Center was a tenant.
Virginia Women’s Center is the dominant women’s health practice in the Richmond area, with five locations and 36 physicians. The group provides a full range of women's health services at the property, situated in the Richmond suburb of Short Pump.
“We continue to expand our significant investment in medical real estate in the Richmond area as we help providers thrive and build stronger practices,” said Chip Conk, CEO of Montecito Medical.
