Banner Well being Heart. Picture courtesy of JLL Capital Markets
Montecito Medical has acquired two medical workplace buildings in Peoria, Ariz., and Granbury, Texas. The purchases had been separate transactions and a part of the corporate’s regular enlargement of its health-care actual property portfolio.
Montecito bought Banner Well being Heart for $29 million from Banner Well being. The property, accomplished in 1989, encompasses 68,000 sq. toes throughout 5.7 acres. The Class B three-story facility options managed entry and contains 308 parking areas.
Situated at 13640 N. Plaza Del Rio Blvd., the medical workplace constructing is 17.4 miles from Phoenix and is located near Arizona State Route 101. Different medical amenities within the surrounding space embrace Banner Thunderbird Medical Heart, Banner Boswell Medical Heart and Banner Rehabilitation Hospital West, amongst others.
JLL Capital Markets represented the vendor and procured the client. The group included Senior Managing Director Mindy Berman, Director Matt Dicesare and Managing Director John Chun, alongside Government Managing Director Pat Williams.
Rising a Texas portfolio
Baylor Scott & White Surgicare at Granbury. Picture courtesy of Montecito Medical
The Texas property encompasses 14,600 sq. toes and Montecito bought the asset from Granbury Well being Actual Property, in response to CommercialEdge information. Hood County data present that the ability was topic to a $34 million mortgage with a maturity date set for 2028, supplied by First Residents Financial institution and Belief Co.
The mortgage lined two different amenities positioned in Indianapolis, Ind., and Plano, Texas, the second being a 31,247-square-foot property bought from Certainty Dwelling Loans.
The Class B constructing, accomplished in 2007, contains 4 working rooms and provides a number of medical procedures in gastroenterology, neurology, orthopedics, ENT, ophthalmology and ache administration. The ability is totally leased to Baylor Scott & White Surgicare at Granbury.
The property is positioned at 1717 Paluxy Freeway, 40 miles from Fort Price and has entry to Freeway 377. The ability is lower than 1 mile from Lake Granbury Medical Heart, with different medical suppliers within the space together with Texas Emergency Medical Service and Epic Orthodontics.
With this acquisition, Montecito expanded its already sizeable Dallas-Fort Price footprint. Since 2021, the corporate acquired 15 medical workplace properties within the space.
