Two ambulatory surgery centers and a specialty hospital in Leawood, Kan., were purchased by Montecito Medical Ventures, a Dallas-based venture-capital arm of Montecito Medical Investment Co., in a joint venture with Chicago-based Harrison Street Real Estate Capital.
MMIC, based in Santa Barbara, Calif., has purchased 40 medical office buildings, ASCs and specialty hospitals in the past two years and now owns medical properties in 13 states, according to a news release.
MMV Managing Partner Michael Burress said in the release that this deal is indicative of a current trend that has healthcare providers selling their brick-and-mortar assets and using the proceeds to lease back and renovate their facilities.
According to Montecito, one of the ASCs, sold by Scottsdale Asset Management LP, has two procedure rooms, with facilities for neurosurgery and MRI and CT scanning, while the other ASC, sold by Paradise Valley Associates, also has neurosurgery and MRI equipment and facilities. The third property in the deal was sold by Pinnacle Peak, Montecito said. That facility is the 10-bed Doctors Hospital, which performs general and orthopedic surgery, and also has MRI and CT equipment and four operating rooms. Terms of the deals were not disclosed. -- by Andis Robeznieks
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