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3101 President George Bush ...

Big Sky Medical Acquires Richardson Medical Center I In Richardson, Texas
SOLDMedical Office

Big Sky Medical Acquires Richardson Medical Center I In Richardson, Texas

3101 President George Bush Highway

Building Size

118,472 SF

Asset Type

Medical Office

Closing

Dec 5, 2023

AI

Big Sky Medical has purchased Richardson Medical Center I, a 118,472-square-foot medical-office building located at 3101 President George Bush Highway in Richardson, Texas. The property was sold by Pillar Commercial. The transaction was brokered by Newmark Group, and the sales price was not disclosed.

Summary of transaction details

Big Sky Medical, represented by Jason L. Signor, has successfully acquired Richardson Medical Center I in Richardson, Texas. Pillar Commercial, represented by Manny Ybarra, was the seller in this transaction. The deal was facilitated by Newmark Group's team of brokers, including Ben Appel, Chris Murphy, Gary Carr, Jay Miele, John Nero, and Michael Greeley. The specific sales price for this 118,472-square-foot medical office building has not been disclosed.

Players

Michael Greeley

Newmark

Broker

$833M

vol

19 deals

Broker
Jason L. Signor

Jason L. Signor

Big Sky Medical

Buyer

$487.4M

vol

6 deals

Buyer

Manuel Ybarra

Pillar Commercial

Seller

4 deals

Seller

Richardson Medical Office Market Snapshot

Boundary boundary · Medical Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93