Montecito Medical Lands 15 KSF Boston MOB
- Aug 02, 2018
Montecito Medical Real Estate has acquired Boston Children’s at North Dartmouth, a 15,020-square-foot Class A medical office building in Dartmouth, Mass.
Built in 2015, the single-story facility is in the Longwood medical area, 60 miles south of Boston and 28 miles east of Providence, R.I. Featuring 16 pediatric specialty services, the Children’s Hospital Corp. occupies the entire building, which also houses a pediatric research enterprise. The property is the main pediatric teaching hospital for Harvard University’s medical school.
“While this property is a smaller building than those that our company typically acquires, it carries enormous prestige and is a key provider of critical healthcare services. We love the characteristics of Boston Children’s hub-and-spoke model, where the satellite offices are leased on a long-term basis to an investment-grade system,” said Chris Conk, partner & senior vice president of acquisitions at Montecito Medical Real Estate, in prepared remarks.
In another deal this year, Montecito Medical Real Estate purchased Resurgens Center East, a medical office building and the adjoining surgery center in Covington, Ga., totaling 32,785 square feet.
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