Big Sky Acquired by GFH Financial

Texas A&M Health Science Center. Image courtesy of Big Sky Medical

GFH Financial Group, headquartered in Bahrain, has purchased a majority stake in Dallas-based Big Sky Asset Management, a real estate asset manager focusing on the health-care segment. Financials on the deal were not disclosed.

GFH described the acquisition as building on its “thematic focus on attractive and defensive markets.” In May 2022, the company purchased SQ Asset Management, a U.S. specialist in student housing assets.

Big Sky has more than 20 years of experience in investing in and managing health-care assets in the U.S., with cumulative transactions totaling more than $2 billion. GFH characterized Big Sky as having strong capabilities in sourcing, acquiring and managing health-care buildings, in particular medical clinics and life sciences properties.

Big Sky is headed by CEO Jason Signor, who with the other founders will continue to own the company alongside GFH.

In a prepared statement, Signor said that having GFH as a strong partner will enable Big Sky to continue to offer unique investment opportunities to investors in the U.S. and the Gulf Cooperation Council. The latter is a regional political and economic union consisting of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.

Recent flurry of deals

Nael Mustafa, co-chief investment officer at GFH, added that his company has acquired two medical clinic portfolios through a joint venture with Big Sky that’s valued at more than $800 million.

“We are strong believers in the health-care market which is positioned for steady, resilient growth following the shift in outpatient services and subsequent demand for quality medical clinics assets,” he said in prepared remarks.

In early November 2022, Big Sky affiliate Big Sky Medical acquired a 175,752-square-foot life science building that anchors Providence Park, a 52-acre mixed-use campus in College Station, Texas. Concurrently, Big Sky Medical purchased Greenpark One, a 134,910-square-foot medical office building in Houston. Later in November, Big Sky Medical acquired a 122,942-square-foot medical office building at the Texas A&M Health Science Center in Bryan, Texas.

All three deals were funded by a $190 million loan from Capital One.