Montecito Medical Acquires Medical Outpatient Building in Central Texas

FOR IMMEDIATE RELEASE

Nashville, Tenn. - Montecito Medical, one of the nation's most active investors in medical outpatient real estate, has acquired a 13,620-SF property in Waco, TX.

The building is 100% occupied by GI Alliance, a nationwide organization of gastroenterology providers, and includes an ambulatory surgery center.

"As we execute on our strategy in growing markets across the Sunbelt, we are pleased to add this nearly new asset to our portfolio and expand the relationship we have established with GI Alliance involving other Texas properties," said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.

GI Alliance is the largest physician-led gastroenterology organization in the United States, operating more than 345 practice locations across 21 states with over 1,100 physicians and 135 affiliated ambulatory surgery centers (ASCs). Cardinal Health, one of the largest and most financially robust companies in U.S. healthcare, owns a majority stake in GI Alliance.

"We have made significant investments in Texas and are excited by the number of attractive acquisition opportunities we are seeing in markets across the state," 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 and veterinary real estate acquisitions and partnering with providers and developers to fund the 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 $6.5 billion in medical and veterinary real estate transactions. Headquartered in Nashville, TN, the company has consistently been named as a "key influencer in healthcare real estate" by GlobeSt.com and the editors of Real Estate Forum.