An entity tied to Nashville, Tenn.-based Montecito Medical Real Estate acquired St. Cloud (Minn.) Surgical Center for $16.9 million, Finance & Commerce reported.
The 43,512-square-foot ambulatory surgery center recently finished a $7.9 million renovation and expansion that took it to 11 operating rooms, according to the report, which draws on certificates of real estate value filed with the Minnesota Department of Revenue.
St. Cloud Surgical Center opened in 1972. It was Minnesota’s first freestanding outpatient surgical center and the second in the U.S.
The site sits next to St. Cloud Hospital but is separate from it, and the new 25,266-square-foot building had nine operating rooms. A 2002 expansion grew the facility to more than 37,000 square feet.
Montecito owns more than three dozen properties in Minnesota. It has acquired 500 medical buildings since 2006.
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