Montecito Buys Satellite MOB For Boston Children’s Hospital
"We love the characteristics of Boston Children’s hub-and-spoke model, where the satellite offices are leased on a long-term basis to an investment-grade system.”
DARTMOUTH, MA–Montecito Medical Real Estate has acquired The Boston Children’s at North Dartmouth medical office building. It is located 60 miles south of Boston and 28 miles east of Providence, Rhode Island.
The North Dartmouth facility is a single-story building with 15,020 square feet, and is one of eight satellite offices for Boston Children’s Hospital, which is located in Boston’s Longwood medical area. It is 100% occupied by The Children’s Hospital Corporation, and physicians within the medical office provide 16 pediatric specialty services, including cardiology and neurology.
Chris Conk, Partner and SVP of Acquisitions for Montecito Medical, stated, “While this property is a smaller building than those that our company typically acquires, it carries enormous prestige and is a key provider of critical healthcare services. We love the characteristics of Boston Children’s hub-and-spoke model, where the satellite offices are leased on a long-term basis to an investment-grade system.”