Montecito Acquires Second Medical Property in Fort Worth Suburb of Bedford
NASHVILLE, Tenn .– (BUSINESS WIRE) – Montecito Medical, a leading US medical office owner, has completed the acquisition of a facility and histology laboratory in Bedford, Texas, an affluent suburb of the Dallas Fort Worth Metroplex.
The 16,328 square foot property is 100% leased to Texas Digestive Disease Consultants (TDDC).
“We are excited to have the opportunity to not only acquire a newly renovated property like this one, but also to work with one of the leading gastroenterology groups in the country,” said Bryan Brown, senior vice president of acquisitions, Montecito Medical.
The Bedford acquisition is part of a larger portfolio of medical office properties in the Dallas area that Montecito is currently acquiring. In October, Montecito acquired an additional property in the community, Bedford Medical Plaza, and medical buildings in Rockwall, Denton, Mansfield and Arlington as part of the portfolio. The company will announce additional portfolio transactions as they are completed.
TDDC operates the Bedford facility as a regional histology laboratory where doctors examine tissue samples from biopsies to diagnose and treat disease.
TDDC is a professional association of approximately 230 certified gastroenterologists who care for patients in medical offices and hospitals in Texas and Louisiana. The group is part of the GI Alliance, the nation’s largest network of gastroenterology experts, comprising doctors in more than 225 locations in 10 states. Dr. James Weber, President of TDDC, is also CEO of the GI Alliance.
Bedford is an affluent community of approximately 50,000 in the Dallas / Fort Worth Metroplex, north of Arlington and near DFW International Airport. The Bedford acquisition continues the rapid expansion of Montecito’s Texas presence. Last year the company acquired medical office properties in Arlington, San Antonio, Austin, The Woodlands, Corpus Christi, Tyler, Texarkana, Katy, Rockwall, Denton and Sunnyvale.
“Texas is the fastest growing state and Dallas-Fort Worth is the fastest growing metropolitan area in the country, so it makes sense that we expand our company’s presence here,” said Chip Conk, CEO of Montecito Medical. “We are pleased that owners of medical practices here, as in other regions of the country, continue to choose Montecito as a partner in order to build stronger practices by maximizing their real estate opportunities.”
About Montecito Medical
Montecito Medical is one of the largest private companies in the country specializing in healthcare property acquisition and medical property development financing. Montecito is a premier resource for both medical real estate owners and healthcare providers looking to monetize or expand their holdings. Since 2006, the company has completed more than $ 5 billion in medical real estate transactions in the United States. Montecito, headquartered in Nashville, TN, has been named a “Key Influencer in Healthcare Real Estate” by GlobeSt.com and the editors of the Real Estate Forum. More information about Montecito Medical can be found at www.montecitomac.com.
[ad_1]
https://www.businesswire.com/news/home/20211130005814/en/Montecito-Acquires-Second-Medical-Property-in-Fort-Worth-Suburb-of-Bedford