Montecito Buys Two HCA Medical Centers, Market briefs

In Houston, CBRE facilitated the sale of the HCA Surgery Center Portfolio, a portfolio totaling 65,054 SF in two ambulatory surgery centers and medical outpatient buildings.

The medical properties, built in 2025, are both fully leased.

The portfolio includes the HCA facility at 21814 Katy Freeway in Katy, west of Houston.

The purchaser was Montecito Medical Real Estate, is one of the largest privately held acquirers of medical real estate in the country. Based in Nashville, Montecito Medical has purchased medical outpatient properties in 40 states valued at more than $6.5 billion.

The seller was NexCore, a healthcare real estate investment and development firm headquartered in Denver.

Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof and Jesse Greshin of CBRE U.S. Healthcare Capital Markets partnered with Brandy Spinks of CBRE’s Houston Leasing team and Marty Plunkett of CBRE’s Salt Lake City Leasing team to act as the exclusive advisors to the seller.

Said Bodnar, a vice chairman of CBRE’s U.S. Healthcare Capital Markets practice: “The strategic location in two of the nation’s fastest growing markets for healthcare assets, coupled with the extremely durable cash flow with the first lease expiration not occurring until 2035.”

KATY: The HCA Katy MOB & ASC is a Class A facility located in the high growth area of Katy, Texas in the Houston MSA with visibility and access from Katy Freeway, the main thoroughfare in the submarket. The remaining tenant roster includes clinical space for HCA, GI Alliance Management that is majority owned by Cardinal Health, and Houston Regional Gastroenterology Institute.

OREM, UTAH: The HCA Orem facility, known as HCA Timpanogos ASC, is located directly on the campus of Timpanogos Regional Hospital, which is owned and operated by HCA Healthcare. The ASC is leased to Central Utah Surgical Center and features 10 operating rooms, which ranks in the top 5% of the largest ASCs in the country, plus four procedure rooms and 32 recovery bays.

CBRE Group, headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2025 revenue). The company has more than 155,000 employees.