Montecito Medical acquired three medical office buildings and a medical office condominium in the Richmond, Va., area.
Here's what you should know:
1. Montecito acquired Boulders Medical Office Building, Memorial Regional Building, Johnston Willis Medical Office Building and Prince George Condominium, a combined 152,000 square feet.
2. All four properties are at near-capacity.
3. North Chesterfield-based OrthoVirginia occupies 58 percent of the total square footage Montecito acquired. Mechanicsville, Va.-based Bon Secours Memorial Regional Hospital and Richmond-based Chippenham & Johnston Willis Hospital each lease about 20 percent of the remaining space.
4. Montecito Medical Principal Chris Conk said, "We are excited finally to add these stellar properties to our portfolio, which already includes a significant presence in Virginia. Each of the buildings is ideally located on or adjacent to campuses of leading health systems, enabling us to build strong relationships with these providers and further adding to the value and attractiveness of the portfolio."
5. This is the 24th medical office building transaction Montecito has closed this year.