Montecito Medical Real Estate Locks Down $31M to Buy Columbia Cancer Center
Nashville, TN-based Montecito Medical Real Estate has secured $31.2 million to finance the acquisition of a cancer treatment center located in Columbia, SC. The center on Stoneridge Drive is fully leased to South Carolina Oncology Associates, which provides medical, radiation and gynecology oncology services in addition to patient support services.
First Citizens Bank’s healthcare finance group, part of the CIT division, provided the funding. The group provides comprehensive financing and banking solutions to middle market healthcare companies across the US.
Montecito Medical Real Estate Company is a privately held company specializing in healthcare-related real estate acquisitions and partnering with providers and developers to fund development of medical and veterinary real estate. The company also supports providers with a suite of AI-powered technology solutions that increase revenues, reduce costs and build physician wealth. Since 2006, Montecito Medical has completed transactions involving more than $5 billion in medical real estate.