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Montecito Medical Acquires Medical Office Property in Indianapolis

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
January 5, 2023 GMT
Midwest Center for Joint Replacement (Photo: Business Wire)
Midwest Center for Joint Replacement (Photo: Business Wire)

NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan 5, 2023--

Montecito Medical, a leading acquirer of medical office properties nationwide, has completed the acquisition of a 34,369 square-foot building in Indianapolis, IN.

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Midwest Center for Joint Replacement (Photo: Business Wire)

The building is tenanted by the Midwest Center for Joint Replacement, which uses the property for orthopedic clinical care, orthopedic surgeries and physical therapy.

“This is an outstanding real estate asset that offers key attributes we seek, including a great location and long-term tenancy by a leading specialty provider,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.

Midwest Center for Joint Replacement is the dominant orthopedic group within a 10-mile radius of the property’s location on the southwest side of Indianapolis. The group maintains an additional location in Bloomington, IN. The practice’s surgeons are recognized as national leaders in outpatient joint replacement surgery.

Earlier in December, Montecito acquired three other medical office properties in Indiana, in addition to the company’s four acquisitions in the state in 2020 and 2021. “As we expand our footprint in both the Indianapolis market and across the state of Indiana, we are excited about our growing opportunities to empower medical office owners and provider groups to build wealth while building stronger practices,” 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230105006024/en/

CONTACT: Brandi Meeks

VP of Marketing

bmeeks@montecitomac.com

KEYWORD: INDIANA TENNESSEE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: HEALTH ARCHITECTURE OTHER CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY GENERAL HEALTH BUILDING SYSTEMS

SOURCE: Montecito Medical

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PUB: 01/05/2023 05:09 PM/DISC: 01/05/2023 05:09 PM

http://www.businesswire.com/news/home/20230105006024/en