Nashville-Based Montecito Real Estate Buys Two HCA Medical Centers From Denver-Based NexCore

CBRE arranged the sale of the HCA Surgery Center Portfolio, a 65,054-square-foot collection of two ambulatory surgery centers (ASCs) and medical outpatient buildings

The portfolio includes a HCA facility that is located west of Houston, along with a second property in Orem, Utah. Both facilities were completed in 2025 and are 100% leased.

The HCA Katy MOB & ASC is a Class A facility situated in a high-growth area within the Houston MSA. The property offers strong visibility and direct access from the Katy Freeway, the primary thoroughfare in the submarket. In addition to HCA, tenants include GI Alliance Management, majority owned by Cardinal Health, and Houston Regional Gastroenterology Institute.

The HCA Orem facility, known as HCA Timpanogos ASC, is located on the campus of Timpanogos Regional Hospital, which is owned and operated by HCA Healthcare. The surgery center is leased to Central Utah Surgical Center and includes 10 operating rooms—placing it among the largest 5% of ASCs nationwide—along with four procedure rooms and 32 recovery bays.

The buyer, Montecito Medical Real Estate, is one of the nation’s largest privately held acquirers of medical real estate. Headquartered in Nashville, the firm has acquired medical outpatient properties across 40 states totaling more than $6.5 billion in value. The seller was NexCore, a Denver-based healthcare real estate investment and development firm.

The CBRE U.S. Healthcare Capital Markets team of Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof and Jesse Greshin served as exclusive advisors to the seller, partnering with Brandy Spinks of CBRE’s Houston Leasing team and Marty Plunkett of CBRE’s Salt Lake City Leasing team.

“The portfolio benefits from its strategic locations in two of the nation’s fastest-growing healthcare markets, as well as durable long-term cash flow, with no lease expirations until 2035,” noted Chris Bodnar, vice chairman of CBRE’s U.S. Healthcare Capital Markets practice.

CBRE Group, headquartered in Dallas, is the world’s largest commercial real estate services and investment firm based on 2025 revenue. The company employs more than 155,000 professionals worldwide.

Source: Realty News Report