NASHVILLE, Tenn.--(BUSINESS WIRE)--Montecito Medical, a leading buyer of medical office properties nationwide, has acquired a 20,900-square-foot medical office property in Bartlett, TN.
The building is fully occupied by OrthoSouth, a large specialty practice in the Memphis area.
“We are delighted to acquire this outstanding and well-situated medical real estate asset and grateful for the opportunity to build a relationship through a long-term lease with these providers, who are part of one of the area’s best-known and most respected orthopedic practices,” said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.
One of the leading and best-established orthopedic groups in the Mid-South, OrthoSouth traces its roots to 1942. The group’s physicians practice at 10 locations across the Memphis area, including two offices in North Mississippi.
The property is in Bartlett, a suburb northeast of Memphis, adjacent to a 196-bed hospital campus and within a growing medical corridor. The group provides orthopedic services, physical therapy, and MRIs at the Bartlett location.
“We are thrilled to expand our presence in the Memphis area and our headquarters state of Tennessee as we help providers make the most of their real estate,” said Chip Conk, CEO of Montecito Medical.
About Montecito Medical
Montecito Medical is one of the nation’s largest privately held companies specializing in medical real estate acquisitions and partnering with providers and developers to fund development of new properties. 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 more than $5 billion in medical and veterinary real estate transactions. 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.