{"id":1004769799,"date":"2025-08-27T03:50:53","date_gmt":"2025-08-27T11:50:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004769799"},"modified":"2025-08-27T03:50:55","modified_gmt":"2025-08-27T11:50:55","slug":"montecito-lands-66m-for-nashville-mob","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/montecito-lands-66m-for-nashville-mob\/","title":{"rendered":"Montecito Lands $66M for Nashville MOB"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a121c49baaac&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"640\" height=\"480\" data-attachment-id=\"1004769800\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/montecito-lands-66m-for-nashville-mob\/murfreesboro-medical-clinic\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Murfreesboro-Medical-Clinic.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Murfreesboro Medical Clinic\" data-image-description=\"&lt;p&gt;Image from Yardi Matrix&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 221,000-square-foot building is about 32 miles from downtown Nashville. Image courtesy of Yardi Research Data &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Murfreesboro-Medical-Clinic.jpg?w=640\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Murfreesboro-Medical-Clinic.jpg\" alt=\"Exterior shot of Murfreesboro Medical Clini, a medical office building in Murfreesboro, Tenn.\" class=\"wp-image-1004769800\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Murfreesboro-Medical-Clinic.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/08\/Murfreesboro-Medical-Clinic.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 221,000-square-foot building is about 32 miles from downtown Nashville.<em> Image courtesy of Yardi Research Data <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Montecito Medical Real Estate has obtained $65.9 million from Capital One, according to Yardi Research Data. Proceeds will refinance Murfreesboro Medical Clinic, a 221,000-square-foot medical outpatient facility in Murfreesboro, Tenn.<\/p>\n\n\n\n<p>Previous debt included a $45.5 million loan originated by the same lender in May 2019 that matured earlier this year, Yardi Research Data also shows. Montecito used that note to acquire the asset from Murfreesboro Medical Clinic &amp; SurgiCenter.<\/p>\n\n\n\n<p>The medical office sector saw an 88 percent increase year-over-year in loan originations, according to a second-quarter <a href=\"https:\/\/www.mba.org\/news-and-research\/newsroom\/news\/2025\/07\/31\/commercial-multifamily-borrowing-increased-66--in-the-second-quarter-of-2025\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">MBA report<\/a>. On a quarterly basis, originations grew by 90 percent.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-medical-outpatient-facility-near-nashville\">A medical outpatient facility near Nashville<\/h2>\n\n\n\n<p>The three-story facility at 1272 Garrison Drive came online in two phases. In 2008, the property opened with 78,000 square feet. The second phase, completed in 2013, added another 143,000 square feet to the building. The tenant roster includes Pediatrix, Murfreesboro Medical Clinic and Results Physiotherapy.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-u-s-medical-office-markets-by-inventory\/\">Top 5 U.S. MOB Markets by Inventory<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The 20-acre property is close to Highway 41, some 32 miles from downtown Nashville and 31 miles from Nashville International Airport. Other medical providers in the area include Ascension Saint Thomas Rutherford, the MMC \u2013 Westlawn medical center and Lane Dentistry.<\/p>\n\n\n\n<p>Montecito\u2019s U.S. medical office portfolio currently comprises properties in 23 states, including California, Florida and New York. With a focus on acquiring assets from practice groups with 10 to 300 physicians, the firm has purchased more than $6.5 billion in medical facilities since its inception.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 221,000-square-foot facility came online in two phases.<\/p>\n","protected":false},"author":3355,"featured_media":1004769800,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21754,36077,21742,32781],"tags":[33139,35085],"class_list":["post-1004769799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-medical-office","category-nashville-knoxville","category-latest","category-southeast","tag-capital-one","tag-montecito-medical"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Montecito Lands $66M for Nashville MOB - 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