Big Sky Medical Expands Texas Footprint

Texas A&M Health Science Center building. Image courtesy of Big Sky Medical

Big Sky Medical has acquired a 122,942-square-foot medical office building within the Texas A&M Health Science Center campus in Bryan, Texas. According to Brazos County records, the property was sold by Healthcare Realty Trust and the purchase was financed with a $190 million loan from Capital One.

In fact, Big Sky used the same note to fund several other recent investments, including a 134,910-square-foot medical office building in Houston, also sold by Healthcare Realty, and a life science facility in College Station, Texas, previously owned by Oldham Goodwin Capital.

The Texas A&M campus building buy is the company’s third acquisition in Brazos Valley, bringing its local footprint to a total of 335,343 rentable square feet. Bryan Medical Building, a 36,672-square-foot medical office property also in Bryan, was Big Sky’s first purchase in the area, according to CommercialEdge data.

Within the Texas A&M Health Science Center campus

Located at 8447 Riverside Parkway, the four-story medical office building was close to full occupancy at the time of sale. Two major tenants anchor the facility: The Texas A&M University System, which uses the space for medical and academic training, and St. Joseph Health’s Texas Brain and Spine Institute, which provides on-site treatments for neurological and spinal disorders. Oldham Goodwin will manage the property.

The campus is 6 miles from Texas A&M University and from its RELLIS campus. The location provides easy access to state highways 6 and 21.

Part of the 2022 investment plan

Big Sky, together with Bahrain-based GFH Financial Group, has completed multiple purchases so far in 2022, continuing to pursue the plan to reach $1 billion in investments by the end of this year. Newmark facilitated the formation of the partnership with an off-shore institutional investor in April.

In July, the firm concluded a $251.4 million buying spree involving 13 medical office and life science buildings across Texas, Wisconsin, New Jersey, Pennsylvania, Michigan and Florida. A $189 million loan, provided by BMO Harris Bank, financed the acquisitions.