Montecito Medical Acquires Medical Office Property in Murray, KY

NASHVILLE, Tenn.--(BUSINESS WIRE)--Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 24,900-square-foot medical office property in Murray, KY.

Village Medical Primary Care is the anchor tenant for the property, which is 100% leased.

“We are very pleased to add this outstanding medical office asset to our portfolio. It represents a focal point for the delivery of care in the area,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.

Marc Barlow of CBRE represented the seller in the transaction.

Village Medical is one of the nation’s largest providers of primary care services, with more than 680 locations across cities, suburbs and rural areas. The 19 providers at the Murray location offer a full range of primary care along with CT imaging services.

The facility, one of the few primary care clinics in Murray, is just over one mile from a 225-bed hospital and receives referrals from the University Health Services Department at nearby Murray State University, which has an enrollment of more than 9,400 students.

“We are very bullish about medical real estate opportunities in tertiary markets like Murray, and we are excited to expand our growing footprint in Kentucky,” 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.