Montecito Medical Acquires Specialty Medical Outpatient Property in Cleveland Area

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Montecito Medical Acquires Specialty Medical Outpatient Property in Cleveland Area

MAY 25, 2026 · REAL ESTATE

FOR IMMEDIATE RELEASE

Nashville, Tenn. - Montecito Medical, one of the nation's most active investors in medical office real estate, has acquired a 36,000-SF medical outpatient building in the Cleveland suburb of Mayfield Heights, Ohio.

Cleveland Orthopedic and Spine Institute serves as the anchor tenant for the fully leased property, which includes an ambulatory surgery center and imaging suites. The ASC, Northern Ohio Surgery Center, is operated through a joint venture between Surgery Partners (NASDAQ: SGRY) and COSI physicians, pairing a national surgical operator with a leading regional orthopedic platform and meaningful physician alignment.

"We are pleased to acquire this significant real estate asset with higher acuity space as we execute on our portfolio growth strategy in the Midwest," said Rus Gudnyy, Senior Vice President of Investments at Montecito Medical.

The property is located in the Mayfield medical and technology corridor, home to a dense cluster of healthcare and research institutions. It is the headquarters location for Cleveland Orthopedic and Spine Institute.

"We are excited about making our fourth strategic real estate acquisition in the Midwest in 2026 and expanding our investment footprint in the Cleveland market area," said Chip Conk, CEO of Montecito Medical.

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