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Real Estate Forward

Acquisition of Four Multi-Tenant Medical Office Buildings

Multiple Locations, Texas

Winstead played a pivotal role in helping Big Sky, a major player in the healthcare industry, acquire four multi-tenant medical office buildings.

ESTIMATED VALUE:
$240.5 million

LEAD ATTORNEYS:

OTHER TEAM MEMBERS:

STATUS:
Deal completed Fall 2022

Winstead played a pivotal role in helping Big Sky, a major player in the healthcare industry, acquire four multi-tenant medical office buildings. The deal, valued at $240,528,000, presented several challenges, but Winstead’s experience and adaptability ensured that the transaction was completed smoothly. The four medical office buildings are located in Dallas, Houston, El Paso, and Bryan, Texas.

Originally envisioned as a single, concurrent transaction, the acquisition unfolded in unique stages due to various factors. A ground lease restriction prevented the El Paso property from joining the cross-collateralized loan for the other three properties in Dallas, Houston, and Bryan. Additionally, a lease dispute between the seller (landlord) and a tenant in El Paso necessitated negotiating a new lease agreement and an amendment to the existing one.

Further complicating matters, Big Sky’s transaction required a Sharia-compliant debt financing structure, prompting the implementation of a master lease structure at each property.

With unwavering dedication and strategic prowess, Winstead led Big Sky toward the acquisition of four prime medical office buildings. This complex deal exemplifies Winstead’s ability to navigate complexities and deliver exceptional results for our clients.