GFH, a leading institutional investor based in Bahrain with a global portfolio of investments, has a $200 million deal with Dallas-based Big Sky Medical to acquire 13 outpatient medical office buildings across seven states.
“Big Sky “complements our own global investment capabilities with deep knowledge of the US healthcare market,” Nael Mustafa Chief Investment Officer, Real Estate of GFH said in prepared remarks.
Earlier this year, Newmark assisted in arranging the joint venture, which was seeded by a $400+ million medical office portfolio aggregated by Big Sky during the past 12 months. Newmark led the portfolio financing.
“The transaction “is a good indication that the market remains quite competitive for well-curated healthcare portfolios,” Newmark senior managing director John Nero said in a prepared statement.
Nero, along with executive managing director Ben Appel, senior managing directors Jay Miele and Michael Greeley of Newmark’s Healthcare Capital Markets group and vice chairman Alex Foshay and executive managing director Joseph Morris of Newmark’s International Capital Markets group, acted as sole financial advisors to the joint venture.
The transaction includes a component for future acquisition financing, which will allow the venture to continue its acquisition strategy under similar terms, according to a release.