AEW Capital, Montecito Seal $245M Recap on Medical Office Portfolio: Report

A joint venture between AEW Capital Management and Montecito Medical Real Estate has closed a $245 million recapitalization of a 31-property medical office building portfolio across 10 states, the Commercial Observer reports.

JLL Capital Markets facilitated the deal after Montecito, the portfolio’s owner, approached it to find a recap partner, with AEW emerging from the process. Read more.

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