Nashville-Based Montecito Continues Fast Pace Acquisition Number In Qtr. 1 2024 With 11 Medical Office Building Deals

Montecito Medical, a leading acquirer of medical office properties nationwide, continued its fast pace during the first quarter of 2024.

Some of the company’s latest acquisitions included properties tenanted by market-leading providers ranging from the Mountain West to the eastern seaboard:

Montecito Continues Fast Pace in Q1 Medical Office Acquisitions with 11 MOB Deals (IMAGE CREDIT: Business Wire)

  • Springfield Clinic / Peoria, IL
  • Alpine Orthopaedics / North Logan, Logan, & Brigham City, UT
  • Advocate Aurora Health / Germantown, WI
  • Minnesota Women’s Care / Maplewood & Apple Valley, MN
  • Virginia Women’s Center / Richmond, VA
  • McIver Clinic / Jacksonville, FL

“We continue to see great interest from medical office owners and provider groups seeking to monetize their real estate, and we are helping them make the most of their opportunities not only to build wealth but also to build stronger practices and better serve patients,” said Chip Conk, CEO of Montecito Medical.

 

Source: Valdosta Daily Times

Micro-Hospitals Continue To Make Inroads In US Healthcare

Sila Realty Trust just announced completion of an $85.5 million healthcare portfolio acquisition whose assets were either micro-hospitals or a facility to offer similar services. It was the latest illustration of the continued growth of this healthcare trend.

The portfolio, located in Arizona and Texas, comprise four built-to-suit micro-hospitals and one freestanding emergency department, totaling approximately 158,000 square feet on a combined 17.5 acres. Each of the micro-hospitals is licensed for 8-inpatient beds, and offers a 13-bed emergency department, operating room, laboratory, diagnostic imaging suite, and a pharmacy. The freestanding emergency department is a 13-bed full-service emergency center, constructed to also offer the same services as the micro-hospitals.

Micro-hospitals have been growing in importance for at least a half dozen years. They are inpatient facilities with a handful of short-stay beds offering some of the same services as larger hospitals—typically emergency services, imaging, pharmacy, lab work and sometimes even outpatient surgeries and primary care—but are cheaper to operate.

Healthcare loves them and their ability to offload demand from large institutions while surgically, if you will, addressing markets. Net lease loves them for their ability to expand need for real estate in areas that might not be able to support a major hospital.

A new example is the micro-hospital expected to open next month in Bellevue, Wisconsin. The Green Bay ER & Hospital is run by Nutex Health, a Houston-based company. It will have six overnight beds and have an emergency department as well as imaging and lab services. There are inpatient and outpatient suites, including pediatric rooms and separate isolation rooms, but no operating rooms.

“We want to start smaller and grow with the community,” facility administrator Sonja Hansen told the Green Bay Press Gazette. “Whether 10 people come through the day or we have 30, we can meet those needs.”

ChristianaCare, which operates three hospitals in northern Delawareand the surrounding area, is expanding into southeastern Pennsylvania through a joint venture with Emerus Holdings, reported the Delaware Business Times. The JV will open three micro-hospitals by 2025 with health and wellness centers and potentially primary care, outpatient diagnostics, and other specialty services.

 

Source: GlobeSt.