Kevin Bentley, Chief Development Officer US Specialists Management
Mitesh Kothari, M.D. Owner of Capital Women's Care
Dr. Michael Fabrizio CEO Urology of Virginia 2008 - 2018
Scot Davis CEO Arkansas Urology
Bruce Cohen, M.D. CEO OrthoCarolina
Joseph A. Peay, CEO Murfreesboro Medical Clinic
Howard Saffan Owner of Bishop Development
John Sheppard, M.D. Virginia Eye Consultants
Steve Karasick COO Advanced Urology
Jitesh Patel, M.D. CEO Advanced Urology
Steve Fiore CEO of OSG
Matthew Stearns, CFO Murfreesboro Medical Clinic
Bruce Kupper CEO of Medarva Healthcare
Ricky Core President of Markel Eagle Partners
What I enjoyed about working with Montecito is that they helped us understand that it's still a building, and you’re still able to see patients, but you're able to monetize the value of that building, and it allowed us actually to expand our real estate portfolio. I just felt very comfortable working with Montecito. Scot Davis CEO Arkansas Urology
What I enjoyed about working with Montecito is that they helped us understand that it's still a building, and you’re still able to see patients, but you're able to monetize the value of that building, and it allowed us actually to expand our real estate portfolio. I just felt very comfortable working with Montecito.
When I was originally approached about selling our real estate assets, my answer was that I was not interested. As CEO of OrthoCarolina, I represent 160 physicians and 39 offices, so getting our group to agree to sell our real estate was challenging and complex. As we got to know the Montecito leaders, I started to see the benefits of considering a sale of our real estate assets. Coincidentally we had an interaction with them on a very contentious situation with a joint venture partner of ours in a property that Montecito owned. Chip and the staff of Montecito were fantastic to work with and very professional in helping us come to resolution of a difficult problem. This interaction led me to explore working with them further. Bruce Cohen, M.D. Chief Executive Officer OrthoCarolina Read entire letter of recommendation
When I was originally approached about selling our real estate assets, my answer was that I was not interested. As CEO of OrthoCarolina, I represent 160 physicians and 39 offices, so getting our group to agree to sell our real estate was challenging and complex. As we got to know the Montecito leaders, I started to see the benefits of considering a sale of our real estate assets. Coincidentally we had an interaction with them on a very contentious situation with a joint venture partner of ours in a property that Montecito owned. Chip and the staff of Montecito were fantastic to work with and very professional in helping us come to resolution of a difficult problem. This interaction led me to explore working with them further.
Bruce Cohen, M.D. Chief Executive Officer OrthoCarolina
In 2005, the physician leaders of Murfreesboro Medical Clinic began looking for real estate to build a new facility. Shortly after we started construction in 2007, we began receiving queries from investors seeking to purchase our property. In 2018, we finally decided it was time to seriously consider our options. After receiving strong offers from several potential investors, including both publicly-traded REITs and private equity firms, we determined Montecito Medical would the best partner going forward. We heard from colleagues at other clinics who had used Montecito and were pleased with the process as well as the working relationship following the transaction. Now that the acquisition of Murfreesboro Medical Properties is complete, we continue to feel that we made the right choice. Joseph A. Peay, Chief Executive Officer Murfreesboro Medical Clinic
In 2005, the physician leaders of Murfreesboro Medical Clinic began looking for real estate to build a new facility. Shortly after we started construction in 2007, we began receiving queries from investors seeking to purchase our property.
In 2018, we finally decided it was time to seriously consider our options. After receiving strong offers from several potential investors, including both publicly-traded REITs and private equity firms, we determined Montecito Medical would the best partner going forward.
We heard from colleagues at other clinics who had used Montecito and were pleased with the process as well as the working relationship following the transaction.
Now that the acquisition of Murfreesboro Medical Properties is complete, we continue to feel that we made the right choice.
Joseph A. Peay, Chief Executive Officer Murfreesboro Medical Clinic
Ultimately, the decision came down to our level of comfort dealing with Montecito, Chip and Chris, as opposed to some of the other companies where we weren’t really sure who we were dealing with after the transaction closed. Matthew Stearns, Chief Financial Officer Murfreesboro Medical Clinic
Ultimately, the decision came down to our level of comfort dealing with Montecito, Chip and Chris, as opposed to some of the other companies where we weren’t really sure who we were dealing with after the transaction closed.
Matthew Stearns, Chief Financial Officer Murfreesboro Medical Clinic
Physicians evaluate patients thousands of eyes every year, yet rarely do we sell our professional home: perhaps once or twice in a lifetime. My interface with the entire team at Montecito, where thousands of real estate transactions evolve through the hands of compassionate experts, was both remarkably educational and reassuringly straightforward. I had direct access to the CEO, the Chief Accountant for personalized tax strategy analysis, and the MMAC VP for acquisitions, each providing email turnover within hours, not days. I truly anticipate our continued collaboration through my partial reinvestment, as well as hopefully many more physician-friendly acquisitions to come. John Sheppard, M.D. Virginia Eye Consultants
Physicians evaluate patients thousands of eyes every year, yet rarely do we sell our professional home: perhaps once or twice in a lifetime. My interface with the entire team at Montecito, where thousands of real estate transactions evolve through the hands of compassionate experts, was both remarkably educational and reassuringly straightforward. I had direct access to the CEO, the Chief Accountant for personalized tax strategy analysis, and the MMAC VP for acquisitions, each providing email turnover within hours, not days. I truly anticipate our continued collaboration through my partial reinvestment, as well as hopefully many more physician-friendly acquisitions to come.
Our practice was impressed with how efficiently Montecito worked to close our transaction, and, even more, that they took the time to listen to our concerns, understood the ‘big picture’ objectives and addressed them. We also appreciated that Montecito provided us the option to continue to manage the property ourselves. Michael Fabrizio, M.D., CEO Urology of Virginia
Our practice was impressed with how efficiently Montecito worked to close our transaction, and, even more, that they took the time to listen to our concerns, understood the ‘big picture’ objectives and addressed them. We also appreciated that Montecito provided us the option to continue to manage the property ourselves.
Michael Fabrizio, M.D., CEO Urology of Virginia
The ability to reinvest was a primary reason that our group decided to sell to Montecito. Our reinvestment was so successful that not only is our physician group committed to reinvesting the profits that we made on the sale of the portfolio, but we expect to continue co-investing in Montecito’s medical real estate investments going forward. James R. Rouse, CPA, CAO EmergeOrtho
The ability to reinvest was a primary reason that our group decided to sell to Montecito. Our reinvestment was so successful that not only is our physician group committed to reinvesting the profits that we made on the sale of the portfolio, but we expect to continue co-investing in Montecito’s medical real estate investments going forward.
James R. Rouse, CPA, CAO EmergeOrtho
We originally talked with Montecito in 2013 and thought they would be a good real estate partner for our group. However, we had an onerous defeasance on our loan. It took four years for the defeasance to burn off. Montecito was patient and handled the situation effectively and professionally. The executives at Montecito were always available to discuss the transaction when needed, walk us through the process, and answer any questions efficiently. Frank S. York, Ill, CPA Chief Executive Officer Flowood, MS Read entire letter of recommendation
We originally talked with Montecito in 2013 and thought they would be a good real estate partner for our group. However, we had an onerous defeasance on our loan. It took four years for the defeasance to burn off. Montecito was patient and handled the situation effectively and professionally. The executives at Montecito were always available to discuss the transaction when needed, walk us through the process, and answer any questions efficiently.
Frank S. York, Ill, CPA Chief Executive Officer Flowood, MS
Montecito recently acquired three of the assets in our portfolio… and was flexible in allowing us to stagger the closing of the remaining three buildings to lesson our tax burden. They worked with us to overcome various hurdles that are a necessary part of large, complex, real estate transaction involving properties in multiple states with varying restrictions and approval processes. Randall Sermons HMG General Counsel Kingsport, TN Read entire letter of recommendation
Montecito recently acquired three of the assets in our portfolio… and was flexible in allowing us to stagger the closing of the remaining three buildings to lesson our tax burden. They worked with us to overcome various hurdles that are a necessary part of large, complex, real estate transaction involving properties in multiple states with varying restrictions and approval processes.
Randall Sermons HMG General Counsel Kingsport, TN
Montecito Medical acquired our building at the agreed upon purchase price, and did not try and re-trade us whatsoever. We found their streamlined due diligence process to be efficient and hassle-free and the transaction closed on time. In addition, it was also important to our company that Montecito allow us to continue to manage the property to ensure our strong relationship with the hospital, which we have had for over 15 years. Furthermore, their executives were available to discuss the transaction when needed, and communicated efficiently and effectively. David P. Wilson, CCIM Executive Vice President Lockard Companies Read entire letter of recommendation
Montecito Medical acquired our building at the agreed upon purchase price, and did not try and re-trade us whatsoever. We found their streamlined due diligence process to be efficient and hassle-free and the transaction closed on time. In addition, it was also important to our company that Montecito allow us to continue to manage the property to ensure our strong relationship with the hospital, which we have had for over 15 years. Furthermore, their executives were available to discuss the transaction when needed, and communicated efficiently and effectively.
David P. Wilson, CCIM Executive Vice President Lockard Companies
The experience with Montecito was a seamless and hassle-free transaction that allowed us to monetize the assets, re-invest in the acquiring entity and keep all property management. Clearly a win-win, which was why our physician group ultimately voted in favor of the sale. James R Rouse, CPA Chief Administration Officer OrthoWilmington Read entire letter of recommendation
The experience with Montecito was a seamless and hassle-free transaction that allowed us to monetize the assets, re-invest in the acquiring entity and keep all property management. Clearly a win-win, which was why our physician group ultimately voted in favor of the sale.
James R Rouse, CPA Chief Administration Officer OrthoWilmington
We were able to maximize our return on the building by selling to Montecito Medical and to do so where we were able to re-invest back into the new entity buying it. It was important to many of our physicians to continue to have some level of ownership in the properties where they practice. Richard Panek CEO, State of Franklin Healthcare Associates Johnson City, TN
We were able to maximize our return on the building by selling to Montecito Medical and to do so where we were able to re-invest back into the new entity buying it. It was important to many of our physicians to continue to have some level of ownership in the properties where they practice.
Richard Panek CEO, State of Franklin Healthcare Associates Johnson City, TN
I would highly recommend Montecito Medical to anyone who is considering selling their medical real estate. The due diligence process was smooth and timely; Montecito did not re-trade any part of the Letter of Intent or contract; and they closed the deal on the exact terms of the contract. With their knowledge and experience of health systems, Montecito Medical was helpful in negotiating an extension to the leases with the hospital. Gary A. Stewart, Jr. Stewart Properties York, PA Read entire letter of recommendation
I would highly recommend Montecito Medical to anyone who is considering selling their medical real estate. The due diligence process was smooth and timely; Montecito did not re-trade any part of the Letter of Intent or contract; and they closed the deal on the exact terms of the contract. With their knowledge and experience of health systems, Montecito Medical was helpful in negotiating an extension to the leases with the hospital.
Gary A. Stewart, Jr. Stewart Properties York, PA
Montecito played a critical role in getting the hospital to amend their leases to allow me to sell both buildings and to capture the best possible economic terms. They actually negotiated with the hospital and allowed the hospital to make changes that they felt important to the existing leases. Kevin Mattson Managing Partner, Dirigo Capital Advisors Hallowell, ME Read entire letter of recommendation
Montecito played a critical role in getting the hospital to amend their leases to allow me to sell both buildings and to capture the best possible economic terms. They actually negotiated with the hospital and allowed the hospital to make changes that they felt important to the existing leases.
Kevin Mattson Managing Partner, Dirigo Capital Advisors Hallowell, ME
We had some lease-up to get to 100 percent occupancy, and Montecito was able to work with us in capturing that value after the close of escrow. Also, I was offered and accepted the option of investing in the new entity that purchased the property, which has allowed me to have a second bite at the apple. Clay Corwin Stone Creek Company Rancho Santa Margarita, CA Read entire letter of recommendation
We had some lease-up to get to 100 percent occupancy, and Montecito was able to work with us in capturing that value after the close of escrow. Also, I was offered and accepted the option of investing in the new entity that purchased the property, which has allowed me to have a second bite at the apple.
Clay Corwin Stone Creek Company Rancho Santa Margarita, CA
Montecito was very experienced with complex negotiations involving a large health system like UCLA, and they were helpful in working closely with my company and UCLA (the only tenant in the building) in getting the deal closed…. I look forward to doing more transactions with Montecito Medical in the future. Randy Miller Nautilus Group, Inc. Berkeley, CA Read entire letter of recommendation
Montecito was very experienced with complex negotiations involving a large health system like UCLA, and they were helpful in working closely with my company and UCLA (the only tenant in the building) in getting the deal closed…. I look forward to doing more transactions with Montecito Medical in the future.
Randy Miller Nautilus Group, Inc. Berkeley, CA
Any owner considering selling their medical offices would be fortunate to have Montecito Medical as a buyer. We valued Montecito’s reasonable due diligence process, and that they closed the deal on the terms of the purchase and sale agreement. Randy Russell President, SportsMed Properties, LLC Matthews, NC
Any owner considering selling their medical offices would be fortunate to have Montecito Medical as a buyer. We valued Montecito’s reasonable due diligence process, and that they closed the deal on the terms of the purchase and sale agreement.
Randy Russell President, SportsMed Properties, LLC Matthews, NC
