Harpeth Capital Announces the Closing of Montecito Medical Physicians II Fund
Harpeth Capital is pleased to announce the closing of Montecito Medical Physicians II Limited Partnership (“Physicians Fund II”) with commitments of $82,535,000 from investors including prominent physician groups, family offices, and high net worth investors. Harpeth Capital acted as placement agent for the limited partnership offering.
Similar to its predecessor fund, Physicians Fund II will leverage Montecito Medical’s relationships to partner with leading physician groups, health systems and other providers across the United States who are looking to monetize their owned real estate. Targeted geographies include secondary and tertiary markets that exhibit strong demographics and medical market fundamentals. The inaugural fund totaling $55,610,000 in commitments closed in September 2019 and was fully called and invested as of April 2020.
“Physicians Fund II is allowing us to continue to execute on our strategy during a time of increased interest in the market, where the combination of our history, relationships, analytics and expertise in identifying premium assets is proving invaluable,” said Chip Conk, Founder and CEO of Montecito Medical. “We want to once again thank Harpeth Capital for its role in leading us to a close within six months of launch during this challenging pandemic environment.”
Physicians Fund II has already closed on several acquisitions and is expected to be fully invested by Q2 2021.
Based in Nashville, 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 150 transactions in over 30 states.