Montecito Medical Investment Corporation Awards CB Richard Ellis 367,000 Square Foot Medical Office Leasing Assignment 

SAN DIEGO – October 26, 2009 – CB Richard Ellis has been awarded a medical office leasing assignment totaling approximately 367,000 square feet from Santa Barbara-based Montecito Medical Investment Corporation.  The properties are located in San Diego County, the Baltimore suburb of Columbia and the Atlanta suburb of Cartersville.  

The San Diego County properties totaling 149,810 square feet include the 30,450 square foot Hillcrest Medical Center located adjacent to Scripps Mercy Hospital in San Diego; the 70,058 square foot Valley Parkway Medical Office Building located adjacent to Palomar Medical Center in the San Diego North County submarket of Escondido; and the 49,302 square foot Escondido Medical Arts Building.  CB Richard Ellis’ Lars Eisenhauer will be heading the San Diego County leasing program.

In Cartersville, the 59,238 square foot Cartersville Physician Center medical office building will be leased by Brandon Wallace of CB Richard Ellis’ Atlanta medical leasing practice group.  The project is on the campus of Cartersville Medical Center.

The 158,420 square foot Knoll I & II medical office project in the Baltimore suburb of Columbia will be leased by the CB Richard Ellis leasing team of Kim Penny and Laura Westervelt. The Knoll I & II projects are anchored by tenants affiliated with Johns Hopkins University Hospital.

According to Eric Tompkins, a San Diego-based vice president in CB Richard Ellis’ Healthcare Services Group, CB Richard Ellis has steadily built its healthcare asset management practice by developing specialized medical office leasing teams in major U.S. markets.  

“Our clients have recognized our efforts by awarding us with asset management assignments totaling over 40 million square feet of healthcare properties,” Tompkins said. “We are especially honored to be selected by Montecito Medical to lease some of the company’s projects as Montecito Medical is among the largest owners of medical office properties in the United States.”

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue).  The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company three years in a row and a Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com/sandiego.
 

Montecito Medical Investment Company

Montecito Medical Investment Company (MMIC) is one of the nation’s largest privately held real estate companies specializing in the acquisition and development of hospitals, medical office buildings, surgery centers, long-term acute care facilities and skilled nursing facilities. The firm, headquartered in Santa Barbara, California, partners with medical real estate owners, enabling them to monetize their equity and improve their facilities, technology, and patient care. MMIC owns more than 35 properties in 12 states, representing more than 1.5 million square feet and in excess of $500 million in valuation. For more information, please visit www.MontecitoMedical.com.