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Big Sky Medical Gets Rezoning Approval For Dallas MOB

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Big Sky Medical has received the approval from the Dallas City Council for the rezoning of the roughly 145,000-square-foot Pyramids South Tower, which can now include medical tenants within the property.

The adjacent Pyramids North Tower was rezoned to medical use in 2005 and is currently occupied by Baylor Scott & White and Dallas Plastic Surgery Institute.

Big Sky Medical acquired the two-building property near dowtown Dallas last year in October for an estimated $55 million from Healthcare Realty. The asset was described at that time as the largest medical office property to change hands in the U.S. since 2018. The purchase was made through Big Sky’s partnership with Bahrain-based GFH Financial Group.

The Pyramid Towers encompass a total of nearly 300,000 square feet and are set to become one of the largest medical complexes in North Texas. Pyramids South Tower is a six-story Class A building which was completed in 1998 and features three passenger elevators, controlled access and offers 730 car parking spaces. Managing Director Russ Johnson and Senior Vice President Chris Wright with JLL will handle the leasing services at the property.

Located at 9101 N. Central Expressway, Pyramid Towers are less than 10 miles from downtown Dallas. medical facilities in the surrounding area include Texas Health Presbyterian Hospital Dallas, SMU Health Center and First Baptist Medical Center, among others.

Big Sky Medical recently made another purchase in the Dallas-Fort Worth market. The company acquired Richardson Medical Center I, a 118,472-square-foot medical office building in Richardson. The property’s repurposing to medical office use began this year.

 

Source: CPE

Orthopedic Care Partners Expands Footprint In The Villages In Florida With Additional Medical Office Building And Ambulatory Surgery Center

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Orthopedic Care Partners (OCP), a strategic partner and support organization for top-performing orthopedic practices currently comprised of The Orthopaedic Institute (FL), The Steadman Clinic (CO), Motion Orthopaedics (MO), Tucson Orthopaedic Institute (AZ), and other leading affiliated practices, announced that The Orthopaedic Institute (TOI) is expanding its offerings in The Villages, Florida

The expansion includes a lease of an additional medical office building in Brownwood and an investment in a multi-specialty ambulatory surgery center (“ASC”) operated by ValueHealth, a value-based care platform that partners with existing health systems and physician groups nationwide to develop ambulatory centers of excellence.

Rich Gilbert, M.D., CEO of OCP stated, “This expansion represents an exciting, organic growth initiative that expands TOI’s local market offerings to The Villages, one of the fastest growing retirement communities in the United States and surrounding communities. We also look forward to the opportunity to partner with ValueHealth, a pioneer and leader in the ambulatory surgical space.”

Jim Needham, President of TOI added, “Our new office and ASC will allow TOI to provide new and existing patients across North Central Florida with increased and more integrated options for care. These facilities, paired with the cross-specialty expertise of our doctors, mean that TOI will be able to maximize our patients’ experience and continuity of care.”

Bob Trinh, Chief Executive Officer for The Villages Health commented, “We are excited that TOI will provide high quality convenient care to our patients here in The Villages by establishing themselves in The Center for Advanced Healthcare at Brownwood. Orthopedic care is important to our patients given the active lifestyle here in The Villages.”

Don Bisbee, CEO of ValueHealth commented, “Partnering with leading specialty physicians at The Villages Health and OCP strengthens our ability to deliver advanced value-based care services by raising the standard of surgical excellence in the region. This ASC will bring significant value to the local community through superior patient experiences and provider satisfaction.”

TOI plans to open the office in Brownwood by September 1, 2022. With one existing office in Summerfield, this will be TOI’s second office serving The Villages and surrounding communities and its tenth across Florida.

The ASC facility is being developed as a strategic partnership between ValueHealth, TOI and The Villages Health and will initially offer service lines for gastroenterology, orthopedics, interventional pain, OB/GYN and urology. TOI is the chosen partner for the facility’s orthopedic service line, which will include general, sports medicine, total joints, pain management and spine care, as well as capabilities in numerous sub-specialties. The ASC will start with four operating rooms and four procedure rooms and has the ability to add an additional operating room and two additional procedure rooms. The ASC is expected to be completed by the end of the 2022 with patient care beginning in 2023.

OCP is backed by Varsity Healthcare Partners (“VHP”), a lower middle-market healthcare services private equity investment firm with expertise in growing care provider platforms.

About Orthopedic Care Partners (OCP)

Orthopedic Care Partners (OCP) is a leading partner for high-performing, quality and patient-focused orthopedic surgery practices. OCP provides a full spectrum of services and enhanced resources to help its family of practices thrive and grow while fostering the unique identities that have made them so successful. To learn more, visit: www.ocpmgmt.com.

 

Source: BusinessWire