Harpeth Capital Announces the Closing of Montecito Medical Physicians Fund
Harpeth Capital is pleased to announce the closing of the inaugural Montecito Medical Physicians Limited Partnership (the “Physicians Fund”) with commitments of $55,610,000 from investors including prominent physician groups, family offices, and high net worth investors. Harpeth Capital acted as placement agent for the limited partnership offering.
The Physicians Fund will leverage Montecito Medical’s relationships with dominant healthcare providers to partner with leading physician groups across the United States who are looking to monetize their owned real estate. Targeted geographies will include secondary and tertiary markets that exhibit strong demographics and medical market fundamentals.
“We could not be more excited about the launch of the Physicians Fund and our pipeline of opportunities,” said Chip Conk, Founder and CEO of Montecito Medical. “With Harpeth Capital’s assistance, we received a tremendous response from an investment community looking for solid returns in what we believe is a unique asset class within real estate. The Physicians Fund will allow us to pursue a targeted strategy on MOB assets that will complement our core, institutional opportunities.”
The Physicians Fund has already closed on its first acquisition with 2-3 additional acquisitions expected to close over the next two months.
Based in Nashville and recognized as a key “Influencer” in healthcare real estate for 2018 by the editors of Real Estate Forum and GlobeSt.com, 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. Since 2005, the firm has completed over 130 transactions in 30 states.