NASHVILLE, Tenn.--(BUSINESS WIRE)--Montecito Medical Real Estate, one of the largest privately held firms in the country devoted exclusively to medical real estate, has acquired the 105,592-square foot Ogden Clinic Portfolio, a dominant multi-specialty provider in the Southwest Mountain region, located in Ogden, Utah.
Ogden Clinic is a Class-A portfolio comprised of four properties which are 100% occupied and features extensive build-outs to accommodate the wide range of specialty practices, including urgent care and radiology.
“Montecito has been great to work with. Their process has been efficient and non-disruptive, enabling Ogden Clinic’s healthcare providers to continue to focus on providing deeply personalized and dynamic care to our patients,” explained Paul Schofield, FACHE, Chief Executive Officer of Ogden Clinic.
Ogden Clinic was founded in 1950, when eight physicians – four of whom trained at Mayo Clinic – launched the concept of multi-specialty care to Ogden with the goal of providing better, more convenient healthcare to their community. Today, Ogden Clinic is a leading physician-owned multi-specialty group practice that has grown to 16 locations with more than 800 employees and 120 healthcare providers in over 20 specialties. They have also been awarded Best of State awards for Healthcare Services, Healthcare Facilities, and Merchandising and Consumer Healthcare Services.
“Montecito is delighted to add Ogden Clinic’s medical buildings to our portfolio. We are very impressed with their senior management team and the world-class physicians that make up this exceptional practice,” explained Montecito CEO Chip Conk. “We look forward to expanding this relationship as Ogden Clinic continues to grow their services throughout the region.”
The Ogden Clinic portfolio is the 12th medical office building that Montecito have acquired year-to-date in 2017 and the 89th medical office building since inception, representing more than $1.5 billion and 4.5 million square feet.
This acquisition was sourced through Dana Hemric, the Managing Director of Global Healthcare Services with Newmark Knight Frank. Hemric leads national business development for the firm's U.S. healthcare capital markets business and specializes in advising physicians, health systems, investors and developers on comprehensive real estate strategies. His clients include some of the country's largest and most successful healthcare providers, developers and investment institutions.
About Montecito Medical
Montecito Medical is one of the nation’s largest privately-held companies specializing in healthcare-related real estate acquisitions and funding the development of medical real estate. Montecito is a leading resource for both real-estate owners and healthcare providers seeking to monetize or expand their holdings. Montecito has offices in Nashville, Tennessee, Austin, Texas and Orange County, California. Since 2005, it has acquired more than $1.5 billion in medical real estate totaling over 4.5 million square feet in 24 states. To date, Montecito has more than $1 billion in capital available to expand holdings its medical office portfolio throughout the United States. Its current portfolio and healthcare system relationships include UCLA, Cleveland Clinic, Johns Hopkins, Holston Medical Group, Carolinas Health System, Bon Secours, Maine General, EmergeOrtho and State of Franklin Healthcare Associates.