Cushman & Wakefield announced on November 7 that it had brokered the acquisition of a medical office building (MOB) in San Antonio, Texas by Big Sky Medical, a national real estate investment management firm. The building was purchased from Mohr Capital, which previously acquired the MOB in 2021.
County records show a loan from BMO Harris Bank of about $192 million taken out by Big Sky related to the property. The deal’s terms were not disclosed.
Alamo Quarry Center is a 99% leased office building in San Antonio, Texas with mainly medical tenants. The 38,370-square foot complex, located along Highway 281, was appraised this year by Bexar County at $12.3 million.
Big Sky Medical invests in healthcare real estate across the United States with a concentration in the medical office and life science sectors. Big Sky Medical is headquartered in Dallas with an investment focus across the Southwest, Southeast, Midwest and Mid-Atlantic. Big Sky Medical’s key management has more than $2 billion in healthcare real estate investment experience.
According to the LevinPro HC database, this marks the 186th MOB acquisition of 2022 and the 23rd of the third quarter. This also marks Big Sky Medical’s sixth MOB acquisition since May 2022. Just last month, Big Sky Medical acquired an 11-MOB, 1,000,000-square-foot portfolio in its third joint venture with GFH Financial Group for $400 million.
