Treeline's Sunset Medical Office Building is currently fully occupied. Image courtesy of CommercialEdge
According to Bexar County records, Big Sky Medical has acquired Sunset at Treeline, a 58,000-square-foot medical office building in San Antonio, with the backing of an acquisition loan issued by Bank of America. The previous owner of the Class A asset was Casey Development, according to Commercial Edge.
The property development was first announced in 2018, with GRG Architecture designing the building and it becoming operational a year later.
The project initially secured an $11.7 million construction loan from American Momentum Bank, which then extended an additional $17.2 million in financing in late 2020. The property also has a $19.7 million loan due in 2022 from First United Bank & Trust Co., according to Commercial Edge.
Related article: Houston is a bright spot amid medical office sector slowdown
The four-storey facility will have 17,460 square feet of floor space, two passenger elevators, controlled access, an on-site roof deck and will also feature 290 parking spaces.
Sunset at Treeline is currently fully booked and is anchored by Baptist Health System Physicians and WellMed, a subsidiary of United Healthcare. Medical services offered include obstetrics and gynecology, orthopedics and cardiology.
Located at 430 W. Sunset Road in the Alamo Heights neighborhood, Sunset at Treeline has access to U.S. Highway 281 and Interstate 410. Downtown San Antonio is approximately eight miles south of the property. Other medical providers in the surrounding area include CHRISTUS Santa Rosa Hospital, Molina Healthcare of Texas Regional Office and Village Square Medical Building.
Big Sky Medical has invested $1.1 billion in medical office buildings with a portfolio totaling 3.1 million square feet across 17 states across the United States.