Montecito Acquires Orthopedic Property in Mississippi | Company
NASHVILLE, TN–(BUSINESS WIRE)–Sept. 22, 2022–
Montecito Medical, a leading medical office owner in the United States, has completed the acquisition of a 49,500 square foot medical office building in Flowood, Mississippi.
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Montecito Medical Real Estate acquires Capital Ortho in Flowood, Mississippi (Photo: Business Wire)
The building, which opened in 2018, is 100% leased to Capital Ortho, a practice group with locations in the Jackson area. The property includes an outpatient surgery center with four operating rooms as well as clinical services for orthopedics and physiotherapy.
“It was a pleasure to work directly with management and the physician-owners on this sale-leaseback acquisition,” said Tyler Rhoades, Director of Acquisitions at Montecito. “We are excited to add another strong orthopedic asset to our growing portfolio in the South and excited to further expand our presence in Mississippi.”
Capital Ortho, which has been serving the area since 1990, is a well-established group with 11 surgeons, 11 physician assistants and nurse practitioners, and 12 physical therapists. The group uses the Flowood property as its hub and has other offices in Madison and Clinton, Mississippi, as well as several satellite locations in the area.
“We were drawn to the fundamentals of this innovative orthopedic group and are excited to partner with the physicians at Capital Ortho as they continue to grow as a practice,” said Chip Conk, CEO of Montecito Medical.
“I want to thank Tyler, Chip and everyone at Montecito for their hard work and cooperation in bringing this deal to fruition,” said Jeff Bedford, CEO of Capital Ortho. “It was a pleasure to work with Montecito on this transaction.”
About Montecito Medical
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and medical real estate development financing. Montecito is a premier resource for medical real estate owners and healthcare providers looking to monetize or expand their holdings. Since 2006, she has completed transactions across the United States involving more than $5 billion in medical real estate. Based in Nashville, TN, Montecito has been named a “Key Influencer in Healthcare Real Estate” for four consecutive years byGlobeSt.comand the editors of Real Estate Forum. Company CEO Chip Conk has been named Healthcare Real Estate Director of the Year 2021 by Healthcare Real Estate Insights. For more information about Montecito Medical, please visitwww.montecitomac.com.
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CONTACT: Brandi Meeks
Vice President of Marketing
KEYWORD: MISSISSIPPI TENNESSEE UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: HEALTH OTHER CONSTRUCTION & REAL ESTATE PRACTICE MANAGEMENT COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE GENERAL HEALTH REIT
SOURCE: Montecito Medical
Copyright BusinessWire 2022.
PUBLISHED: 09/22/2022 1:31 PM / DISK: 09/22/2022 1:32 PM
Copyright BusinessWire 2022.