Montecito Medical Acquires Medical Office Property in California

NASHVILLE, Tenn.--(BUSINESS WIRE)--Montecito Medical, a leading acquirer of medical office properties nationwide, has acquired a 32,300-square-foot medical office property in Visalia, California.

The multi-story building is 100% leased by Kaweah Health. The facility is situated on the campus of the 581-bed Kaweah Delta Medical Center, the area’s largest hospital.

“We are thrilled to add this outstanding, on-campus medical real estate asset to our portfolio and look forward to building a relationship with Kaweah Health, which serves patients across Tulare and Kings Counties,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.

Visalia is midway between Fresno and Bakersfield, two growing markets in California’s San Joaquin Valley.

Founded in 1963, Kaweah Health operates the largest healthcare facility in the county and works with more than 5,200 medical professionals across its eight campuses.

“We are pleased to expand our growing presence in California and to invest in a tertiary market that we believe offers great opportunity for our company,” 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.