Big Sky Medical has acquired the Pyramid Towers medical campus with the help of Middle Eastern partners.
The Dallas-based firm purchased the two-building medical complex with financing from GFH Financial Group, which is based in Bahrain. Big Sky Medical has made more than a dozen property purchases in partnership with GFH. Together, the two firms plan to upgrade the buildings on North Central Expressway.
Though terms of the transaction were not disclosed, the two buildings are valued for property taxes at more than $55 million, and Big Sky Medical described the purchase as “the largest medical office asset to trade hands in the United States since 2018,” the Dallas Morning News reported.
“I have always wanted to own the Pyramids Towers, and 20 years later I have finally gotten my opportunity to transform these assets,” said Big Sky CEO Jason L. Signor. The towers were completed in 1999, so Signor has had them in his sights basically since they went up.
Nael Mustafa, chief investment officer of GFH said the Pyramid Towers represent “the type of institutional-quality investments we desire as we expand our medical office investing within the U.S.”
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