Market Overview

Montecito Medical Acquires Flagship Medical Office Building of Beth Israel Deaconess

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Montecito Medical Real Estate, a premier owner of medical office
buildings throughout the U.S., has acquired the Beth Israel
Deaconess medical office building in Plymouth, Massachusetts.

The 30,803 square-foot building is located adjacent to the 155-bed Beth
Israel Deaconess Plymouth Hospital (BID-Plymouth), the only hospital in
the market and the largest employer in the market. Built in 2014, the
two-story BID medical office building is a Class A state-of-the-art
facility. The building is 100 percent-leased to Jordan Physician
Associates, Inc., which provides family medicine, OBGYN, and lab
services for the community.

"Medical real estate doesn't get much better than this prime property,
given its location adjacent to the hospital campus and with a long-term
lease to the dominant health system in the market," said Chip Conk, CEO
of Montecito. "We are extremely pleased to acquire this property and
enter into a relationship with such a prestigious name in healthcare as
Beth Israel Deaconess."

Beth Israel Deaconess (CareGroup, Inc.) is an organization comprised of
teaching and community hospitals, physician groups, and other
caregivers. It is a teaching hospital of Harvard Medical School and
consistently ranks in the top three recipients of biomedical research
funding from the National Institutes of Health. CareGroup serves the
health needs of patients and communities extending from north and south
of Boston and is comprised of six hospitals and 45 community health
centers and primary care practices.

Approximately 40 miles south of Boston, Plymouth is one of the largest
towns in Massachusetts and is part of the Boston-Cambridge-Newton MSA
with a population of 4.5 million. Tourism is a major industry in
Plymouth, which is well known for its history as one of the country's
first settlements, along with healthcare, technical and scientific
research, real estate and telecommunications.

The Beth Israel Deaconess medical office building transaction represents
the ninth completed acquisition for Montecito in the past five months.
"We have been super active in the market, closing, closing an average of
three deals a month," Conk said. "To us, that is a reflection of the
appeal of our model, which enables sellers to continue to invest in the
property and to invest in other medical real estate properties that
Montecito acquires."

About Montecito Medical

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 real estate owners and healthcare providers
seeking to monetize or expand their holdings. The company has offices in
Nashville, Tenn., Austin, Tex., Portland, Ore., and Orange County,
Calif. Since 2005, it has transacted on more than $2.33 billion in
medical real estate totaling over six million square feet in 27 states.
To date, Montecito has more than $1 billion in capital available to
expand holdings in its medical office portfolio throughout the United
States. Its current portfolio and healthcare system relationships
include UCLA, Cleveland Clinic, Johns Hopkins, Holston Medical Group,
Urology of Virginia, OrthoCarolina, Bon Secours, Maine General,
Carolinas Health System, EmergeOrtho and State of Franklin Healthcare
Associates.

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