Nashville, Tennessee-based Montecito Medical Real Estate has acquired a soon-to-open Ascension Wisconsin outpatient medical clinic in Mequon for $16.19 million, according to state records.
The clinic property is at the northwest corner of West Highland and North Port Washington roads. A Montecito affiliate bought it from an affiliate of Milwaukee-based Catalyst Construction.
Property records on file with Ozaukee County only contained assessment values of the land itself. The four acres had an assessed value of about $1.24 million.
An Ascension spokesperson said the 29,500-square-foot Mequon clinic is scheduled to open in the spring. The health care network will move its services there from an existing clinic just across the street, at 12800 N. Port Washington Road.
The new clinic also lies just south of Ascension Columbia St. Mary’s Hospital Ozaukee at 13111 N. Port Washington Road.
This transaction happened around the same time that another real estate investor, Chicago-based Harrison Street Real Estate Capital LLC, acquired two health care properties in the area. Harrison Street bought the Froedtert health center on Port Washington Road and Children's Wisconsin clinic on Mequon Road, along with a Froedtert lab and warehouse in Menomonee Falls, for a collective $92.59 million.