NASHVILLE, Tenn. (BUSINESS WIRE) (July 22, 2022)—Montecito Medical has completed the acquisition of Dillon Family Medicine office property in Dillon, South Carolina.
The building, which offers approximately 24,000 square feet of space, is fully occupied by Dillon Family Medicine under a long-term lease.
“We are excited by the opportunity to acquire this excellent asset and to build a relationship with a dominant regional health system and the physicians of this practice group,” said Bryan Brown, Senior Vice President of Acquisitions at Montecito Medical.
Dillon Family Medicine has a history of serving the community that spans more than 55 years. With its location six miles from the North Carolina border, the group draws patients from both states.
At the property Dillon Family Medicine provides a range of specialized medical services, including OB/GYN, pulmonary, dermatology, gastrology, cardiology, and primary care. The property also includes a lab and pharmacy.
Dillon Family Medicine is a subsidiary of McLeod Health, the area’s dominant health system.
The property adjoins the campus of McLeod Dillon Hospital.
Alex Vidal and David Helvey of Marcus & Millichap’s National Healthcare Real Estate Group represented the seller in the transaction.
The Dillon acquisition expands Montecito’s footprint in South Carolina. In the past two years, the company has also acquired medical office properties in Spartanburg and Charleston.
“We like the fundamentals of this area, and our pipeline includes other medical properties in both South Carolina and North Carolina,” said Montecito CEO, Chip Conk.
Montecito Medical is one of the nation’s largest privately held companies specializing in healthcare-related real estate acquisitions and funding the development of medical real estate. Montecito is a leading resource for both medical real estate owners and healthcare providers seeking to monetize or expand their holdings. Since 2006, it has completed transactions across the United States involving more than $5 billion in medical real estate. Headquartered in Nashville, TN, Montecito has been named as a “key influencer in healthcare real estate” for four consecutive years by GlobeSt.com and the editors of Real Estate Forum. Chip Conk, the company’s CEO, was named Healthcare Real Estate Executive of the Year for 2021 by Healthcare Real Estate Insights. For more information about Montecito Medical, please visit www.montecitomac.com.