Aurora Mequon site acquired
Montecito Medical controls properties across nation

News Graphic Staff

Dec. 19, 2017

MEQUON — The Aurora East Mequon Surgery Center has been acquired by a Tennessee-based owner of medical office properties.

The facility at 11203 Corporate Parkway in Mequon is leased by Aurora. The sale will not have a direct impact on its day-to-day operations.

The acquisition of the Mequon property was one of two in the greater Milwaukee area announced in a news release Friday by Montecito Medical, which owns medical office properties across the nation. The other affected property is in Franklin.

The facilities total 129,629 square feet and are 100-percent master-leased to Aurora Healthcare, the largest provider of inpatient and outpatient care in Wisconsin, according to the news release.

“Aurora’s excellent reputation and financial strength are second to none,” said Chip Conk, chief executive officer of Montecito Medical. “The unparalleled health care services that both facilities offer are integral to maintaining Aurora Health Care’s standard of excellence and continuum of care in Wisconsin.”

The portfolio is anchored by two ambulatory surgery centers that provide patients with a convenient, cost-effective setting for a wide range of outpatient surgical procedures that do not require overnight hospitalization.

Both facilities are integral to maintaining Aurora Health Care’s standard of excellence and are equipped with state-of-the-art equipment and technology, the news release added.

Built in 2001, the 66,638-squarefoot Aurora East Mequon Surgery Center includes five operating suites, an imaging room and two X-ray rooms.

In Franklin, the 62,991-square-foot Franklin Surgery Center, built in 2002, includes four operating suites and two imaging rooms.

In addition to general surgery, other surgical services provided by Aurora include gastroenterology, orthopedics, ENT, urology, podiatry, cosmetic and reconstructive surgery, pediatrics and vein.

Aurora Healthcare is a private, not-for-profit, integrated health care provider headquartered in Milwaukee that is comprised of 14 wholly owned hospital facilities, more than 150 physician clinic facilities, approximately 70 pharmacies, a home health organization and approximately 1,700 employed physicians. Aurora is among the largest private employers in the state, with more than 31,000 employees, the news release added.

“This strategic acquisition represents the first two medical office buildings/ASCs in Wisconsin to join our rapidly expanding, high-quality portfolio,” Conk said. “They perfectly complement our growth plans and commitment to focus on acquiring best-in-class medical real estate nationwide.”

Montecito Medical is one of the nation’s largest privately held companies specializing in health care-related real estate acquisitions and funding the development of medical real estate.

Montecito is a leading resource for both real-estate owners and health care providers seeking to monetize or expand their holdings, according to the news release.

Montecito has offices in Nashville, Tenn., Austin, Texas, and Orange County, Calif.

Since 2005, the company has acquired more than 102 medical office buildings or $1.7 billion in medical real estate, totaling more than 5 million square feet in 25 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 health care system relationships include UCLA, Cleveland Clinic, Johns Hopkins, Holston Medical Group, Carolinas Health System, Bon Secours, Maine General, EmergeOrtho and State of Franklin Healthcare Associates.