Friday 21 January 2022

US-based medical office properties owner Montecito Medical has completed the acquisition of the Windsong Medical Park property in Williamsville, New York, the company said.

The two adjoining buildings that comprise the fully leased medical park offer a combined total of more than 72,000 rentable square feet of space.

Windsong Radiology, a large radiology group, is the medical park's anchor tenant, occupying slightly more than 41,000 square feet.

Founded in 1987, Windsong Radiology Group is the market's dominant radiology practice, with 22 physicians and mid-level practitioners at five locations across Western New York.

The group has grown to become one of the largest free-standing diagnostic imaging centers in the US, with more than 400,000 annual procedures.

In 2016, they were joined by an additional three breast surgeons and two mid-level practitioners, comprising the Windsong Medical Health Alliance.

Patients at the Williamsville location, which serves as the group's hub, receive services that include 3-D mammography, breast biopsy, MRI, CT scans, PET/CT, ultrasound, nuclear medicine, bone density scans, x-ray and interventional and vascular services.

Approximately 25,000 square feet of the total space is leased by Kaleida Health, the largest healthcare provider in Western New York, managing five hospitals across an eight-county area. The health system provides cancer care services, including an infusion center at the Williamsville location.

The medical park's other tenant, General Physician's orthopedic group, is housed in approximately 3,290 square feet.

Williamsville is situated east of downtown Buffalo, near the confluence of Interstate 90 and I-290 and one mile north of Buffalo Niagara International Airport.

The medical park property is located along a busy corridor adjoining residential neighborhoods and the North Campus of SUNY Erie Community College.

The Windsong Medical Park acquisition continues the expansion of Montecito's footprint in the market area. In November, the company acquired a property occupied by the Ambulatory Surgery Center of Western New York in Amherst, another Buffalo suburb.

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 2006, it has completed transactions across the United States involving more than USD 5bn in medical real estate.