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Transactions: Big news from Big Sky: A $1 billion medical office JV

The partner is an ‘off-shore, new entrant institutional investor;’ Newmark facilitated the deal

By Murray W. Wolf

In November, Big Sky Medical Real Estate acquired the three-story, 36,672 square foot Bryan Medical Center at 2900 E. 29th St. in Bryan, Texas, for its fund at an undisclosed price. The property is now part of its new joint venture. (Photo courtesy of Big Sky Medical Real Estate)

DALLAS – Big Sky Medical Real Estate, a Dallas-based healthcare real estate (HRE) investment management firm led by well-known industry veteran Jason L. Signor, announced this morning that it has formed a $1 billion joint venture (JV) with “an off-shore, new-entrant, institutional investor.”

The new venture, which seeks to acquire medical office buildings (MOBs) and surgery centers, was seeded by a $400 million-plus MOB portfolio that was aggregated by the Big Sky Medical platform during the past year. The formation of the JV was facilitated by Big Sky and the Healthcare Capital Markets and International Capital Markets teams of Newmark Group Inc. (Nasdaq: NMRK).

In an exclusive interview with HREI, Mr. Signor, founder and CEO of Big Sky, said

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