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Montecito Medical acquires the Weston Medical Surgical Pavilion

Press releases may be edited for formatting or style | October 25, 2017 Business Affairs
NASHVILLE, Tenn.--(BUSINESS WIRE)--Montecito Medical Real Estate, one of the fastest growing firms in the country devoted exclusively to medical real estate, has acquired the Weston Medical Surgical Pavilion building, a Class-A, two-story 30,000-square-foot facility located within an affluent medical corridor in Weston, Florida. Weston is one of South Florida’s most desirable areas and a relatively new, master-planned community situated along the edge of the Everglades to the west and within easy reach of Fort Lauderdale to the east and Miami to the southeast.

The Weston Medical Surgical Pavilion was built in 2000 and is 95.7% occupied. The building is ideally located at 2229 N Commerce Parkway, just minutes off of Interstate 75, in a high-density area, within walking distance to several major retailers and independent restaurants. The building is anchored by market leading Weston Outpatient Surgical Center, a fully AHCA licensed and Medicare Certified ambulatory surgical center.

“Montecito worked closely with us and all of our people to get this transaction completed without interfering with the building’s tenants,” advised Richard Famiglietti and Saul R. Epstein, the two Managers of the General Partner of Weston Pavilion Partners, LLLP, the partnership that was the seller of the building.

The majority of the entire first floor is occupied by the Weston Outpatient Surgical Center, a 13,750-square-foot ambulatory surgery center that includes six operating rooms, two endoscopy suites and one special procedure suite. Specialties provided include gastroenterology, general surgery, gynecology, orthopedics, otolaryngology, pain management, plastic/cosmetic surgery, podiatry foot and ankle, and urology. The Surgical Center provides state-of-the-art, advanced instrumentation and high technology monitors, lasers and microscopic cameras. Other specialties in this building include Akumin, Advanced Dermatology and Cosmetic Surgery, and Select Physical Therapy (a national provider of rehabilitation services). Akumin, the renamed Tristate Imaging Group, is a leading provider of outpatient diagnostic radiology services, such as MRI and computed tomography (CT) scans, with location in multiple states, including Florida, Pennsylvania, Texas and Delaware. In 2013, Akumin acquired 16 diagnostic imaging centers in Florida, including the location at the Weston Medical Surgical Pavilion medical office building. Advanced Dermatology and Cosmetic Surgery has over 180 locations, including this location in the building.

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