Big Sky secures $190 million financing for 10 healthcare properties across four states

JLL Capital Markets announced today that it has arranged approximately $190 million acquisition financing for 10 healthcare properties totaling 857,779 square feet. 

JLL worked on behalf of the borrower, Big Sky Medical Real Estate, in securing the five-year, floating-rate loan from a bank syndication led by Capital One Healthcare.

The properties, which are collectively 87% occupied, serve a wide range of healthcare uses, including outpatient medical office buildings, ambulatory surgery centers, diagnostic imaging centers and more. The portfolio includes:

  • Pyramids North, 9201 North Central Expressway, Dallas, Texas
  • Pyramids South, 9101 North Central Expressway, Dallas, Texas
  • Providence Park, 2501 Earl Rudder Freeway, College Station, Texas
  • Greenpark MOB, 7515 Main St., Houston, Texas
  • Peninsula Orthopedic Associates, 1675 Woodbrooke Dr., Salisbury, Maryland
  • Tidal Health Cardiology, 400 Eastern Shore Dr., Salisbury, Maryland
  • Pelican Professional Center, 42388 Pelican Professional Park, Hammond, Louisiana
  • Texas A&M Health Science Center, 8441 Highway 47 West, College Station, Texas
  • Peak Surgical Center, 610 North Coit Road, Richardson, Texas
  • Valley Ortho & River Surgical Institute, 609 East Orangeburg Avenue, Modesto, California

JLL’s 2022 Healthcare and Medical Office Perspective highlights that patients are moving to sunbelt states and retirement markets such as Texas, Louisiana and California at exponential rates creating more demand for medical office buildings. As a result, medical office occupancy has ticked upwards as demand intensifies in a moderate construction environment which has gradually increased rents for the 11th quarter in a row.

The JLL Capital Markets team representing the borrower was led by Managing Directors Timothy Joyce and John Chun and Director Anthony Sardo.