NASHVILLE, Tenn.--(BUSINESS WIRE)--Montecito Medical Real Estate, a premier owner of medical office buildings throughout the U.S., has entered into an agreement to acquire Rockwall Medical Plaza, a 20,007-square-foot medical office building and surgery center just east of Dallas, Texas.
Strategically located on the campus of Texas Health Presbyterian Hospital and constructed last year, Rockwall Medical Plaza is anchored by an ambulatory surgery center joint-ventured by Texas Health Resources and Spine Team Texas.
“This is a Class-A, newly constructed property in the heart of Rockwall’s attractive medical corridor, and we’re proud to have it anchored a cutting-edge surgery center,” said Chip Conk, CEO of Montecito Medical. “We’re also excited to grow our presence within the Dallas medical market and to partner with a leading healthcare provider like Texas Health.”
In addition to the surgery center’s two operating rooms for neurological and orthopedic procedures, Rockwall Medical Plaza houses a large Texas Health Resources clinic, as well as neurology and dental offices.
Formed in 1977, Texas Health Resources is one of largest faith-based nonprofit healthcare systems in the United States with 24 hospitals around Dallas/Fort Worth. And Texas Health Presbyterian Hospital Rockwall, especially known for its orthopedic surgery and women’s breast imaging, was recently selected for the fifth time in eight years by Modern Healthcare as one of the Best Places to Work in Healthcare.
Including Rockwall Medical Plaza, Montecito Medical has acquired 21 medical office buildings over the past 12 months and has five additional properties under Letter of Intent to close by January. This latest acquisition is subject to closing conditions and other requirements as detailed in the purchase agreement.
About Montecito Medical Real Estate
Nashville-based Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real-estate acquisitions, and is a leading resource for both property owners and healthcare systems seeking to monetize or expand their holdings. Since 2005, Montecito has acquired more than $1.2 billion in medical real estate in 22 states and offers more than $1 billion in capital available to acquire medical real estate and to fund development. Over the past decade, its medical office building portfolio has been occupied by premier health systems including UCLA, Cleveland Clinic, Johns Hopkins, Holston Medical Group, and State of Franklin Healthcare Associates. For more information, please visit MontecitoMac.com.