Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 20,724-square-foot medical office property in Harrisonburg, Virginia.
The two-story building, which includes an outpatient surgical suite, is tenanted by Hess Orthopaedic Center and Sports Medicine.
“We are thrilled to acquire this outstanding medical property and to enter into a long-term relationship with such a recognized and respected practice group,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.
Founded in 1971, Hess Orthopaedic Center has provided a full range of orthopedic services for patients in Virginia’s Shenandoah Valley for more than 50 years. The group is the dominant orthopedic provider within a 25-mile radius of Harrisonburg.
The transaction expands Montecito’s extensive Virginia footprint, including five other properties acquired in the past year. “We are gratified by the number of provider groups that continue to choose our company to help them make the most of their real estate as they serve their patients and communities,” said Chip Conk, CEO of Montecito Medical.
About Montecito Medical
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and partnering with physicians and developers to fund development of medical real estate. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs and build physician wealth. Since 2006, Montecito has completed transactions involving more than $5 billion in medical real estate. Headquartered in Nashville, TN, the company has been named for five consecutive years as a “key influencer in healthcare real estate” by GlobeSt.com and the editors of Real Estate Forum. For more information, please visit www.montecitomac.com.
