Montecito Medical Announces Joint Venture
The new Venture, Montecito
Berkshire LLC, expects to acquire and develop $700+ million in medical office assets over the next five years through joint ventures with institutional investors. The investment strategy is to acquire existing medical properties, as well as develop new assets in partnership with healthcare providers and regional developers.
“Montecito Medical recognized BRV and its affiliates’ long history and deep relationships in the investment community. We believe our two companies bring complementary expertise to the new venture,” said Chip Conk, CEO of MMAC, “The combination of our management teams, coupled with MMAC’s proprietary research platform, Montecito Research & Analytics, furthers our goal to acquire and develop in the most desirable markets in the U.S.”
The joint venture’s focus is to maximize its strategic relationships with healthcare developers, owners, and hospital systems and to assist them with their real estate needs.
About Montecito Medical
Formed in 2006, Montecito Medical is one of the nation’s largest, privately held companies specializing in acquiring and funding developments of medical related real estate. MMAC is dedicated to being the preferred resource for healthcare real estate developers, owners and healthcare systems seeking to monetize or expand their real estate holdings.
Montecito Research and Analytics, a wholly owned subsidiary of Montecito, is a proprietary analysis system comprised of over 10 terabytes of healthcare and demographic information. This research platform allows MMAC to drill down through 30,000 zip codes in the U.S. to determine medical market viability as well as providing an analysis of additional physician specialty needs within an individual market. For more information, please visit www.MontecitoMedical.com.
Berkshire Realty Ventures
BRV is an affiliate of The Berkshire Group, a 40+ year old real estate and private equity company that has raised over $6 billion in third party investor equity, and has made over $10 billion in direct and entity level real estate investments. To learn more, visit BerkshireRealtyVentures.com