• Wed. May 29th, 2024

Deal Expands Montecito Medical’s Footprint in Western New York

Bynewsmagzines

Mar 31, 2023
Windsong Radiology Group sold Windsong Medical Park to Montecito Medical Real Estate for $29 million in January 2022. (CoStar)

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Nashville, Tennessee-based mostly Montecito Healthcare Actual Estate has been increasing its footprint in New York’s Buffalo-Niagara location, and its modern acquisition of Windsong Health-related Park in Williamsville, New York, gained the 2023 CoStar Impact Award Sale/Acquisition of the Yr for Buffalo.

“We have deployed a sizeable amount of capital in the Buffalo location, and we proceed to be captivated by the health-related office opportunities here,” stated Montecito Healthcare CEO Chip Conk.

For a price tag of $28.75 million, Montecito Health-related acquired the two-story, 83,000-sq.-foot workplace park at 45-55 Spindrift Drive from Windsong Radiology Group, which maintains its major campus in the medical park. With four added destinations across Western New York, Windsong Radiology Group is a dominant exercise in the region.

The deal took the improved part of a yr to finish, said Dr. Thomas Summers, president of the health care park. “This appeared a all-natural progression, allowing us to target a lot more time on our people,” Summers said. “We are self-confident that, with Montecito’s expertise unique to medical services, they will continue on to sustain our website as the leading professional medical facility in Western New York.”

Kaleida Health and fitness leases 25,000 square feet in the park, and the 3rd tenant is Typical Physician’s orthopedic team, housed in about 3,290 square toes.

About the venture: This is Montecito’s second professional medical facility acquisition in the location. In November, it acquired a home occupied by the Ambulatory Surgical treatment Center of Western New York in Amherst, New York.

What the judges reported: Judges Tim Malchow and Brandye Merriweather pointed out that the deal further establishes Western New York’s prominence for condition-of-the-art healthcare providers.

They manufactured it occur: Tyler Rhoades, director of acquisitions, Montecito Health care Real Estate.

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