CEDAR PARK, TX – July 23, 2024 – Big Sky Medical today announced the acquisition of Baylor Scott & White – Cedar Park, a 38,709 RSF Class A medical outpatient building located in the rapidly growing Austin, Texas metropolitan area. The property is 100% net- leased to Baylor Scott & White Health, Texas’s largest not-for-profit healthcare system.
Key highlights of the acquisition include:
- Prime Location: The facility is strategically positioned next to Baylor Scott & White Emergency Medical Center and near Cedar Park Regional Medical Center, ensuring a steady flow of patient referrals.
- Strong Demographics: The surrounding area boasts an average household income of $139,000 and projected annual population growth of 1.33% within a 15-minute drive.
- Prestigious Tenant: Baylor Scott & White Health (Moody’s: Aa3) is one of the largest healthcare systems in the United States, operating over 50 hospitals and 1,000 patient care sites across Texas.
- Attractive Investment: The property is an exceptional opportunity in the competitive Austin real estate market.
“Big Sky is pleased to add another high-quality asset to our growing portfolio and welcomes the opportunity to expand our relationship with Baylor Scott & White,” states Harrison Horowitz, Managing Director of Big Sky Medical.
The Cedar Park facility offers a wide range of medical services, including preventive care, primary care, and specialized treatments. Its proximity to Cedar Park Regional Medical Center, a 126-bed hospital with a strong financial track record, further enhances the property’s value and importance to the local healthcare ecosystem.
Cedar Park, the third-largest city in the Austin metro area, is known for its excellent schools, pro-business environment, and high quality of life. The city’s strategic location, just 17 miles from downtown Austin, positions it at the intersection of urban amenities and small-town charm.
About Big Sky Medical
Big Sky Medical is a relationship-driven healthcare real estate investment firm with over two decades of experience in the U.S. healthcare sector. Specializing in medical outpatient buildings, clinics, ambulatory centers, and specialty hospitals, Big Sky leverages its deep understanding of healthcare delivery and extensive industry relationships to source high-quality, off-market deals. The firm’s multi-tiered underwriting process and operational expertise enable it to identify value opportunities while mitigating risks, consistently delivering strong returns for investors. Big Sky’s commitment extends beyond traditional investment management, offering an unrivaled asset management platform and aligning interests by investing significant capital alongside its partners. As the preferred asset buyer for NNN properties in the U.S., Big Sky Medical combines industry knowledge, strategic acquisitions, and strong relationships to build diverse, high-performing healthcare real estate portfolios. To learn more, visit www.bigskymed.com.
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