Vital Capital Targets $15.4M for Cincinnati-Area Rehab Hospital DST
Vital Capital Partners, a healthcare real estate investment manager and sponsor, has launched Vital Capital Medical – Liberty OH DST, a Delaware statutory trust offering seeking to raise approximately $15.4 million in equity from accredited investors through independent broker-dealers and registered investment advisers.
The DST owns Liberty Rehabilitation Hospital, a 36-bed inpatient rehabilitation hospital in Liberty Township, Ohio, north of downtown Cincinnati. The company said the property is leased to a national inpatient rehabilitation operator but did not name the tenant. The offering is structured for investors completing Section 1031 exchanges.
The DST acquired the hospital Oct. 15, bringing Vital Capital Partners’ total acquisition volume to more than $110 million since September 2024, the company said.
Completed in 2021, the hospital totals approximately 38,000 rentable square feet on 4.36 acres at 7810 Bethany Road, just off Interstate 75. It provides inpatient and outpatient rehabilitation for patients recovering from stroke, brain injury, spinal cord injury, orthopedic conditions, and other serious illnesses or injuries. Its general inpatient rehabilitation and stroke specialty programs are accredited by the Commission on Accreditation of Rehabilitation Facilities.
“We look closely at whether a healthcare property is designed around an essential clinical use and sits in a market that can support that care over time,” said Robert Lee, co-founder and co-managing partner of Vital Capital Partners. “Liberty Rehabilitation Hospital meets those criteria. It’s a newer hospital designed specifically for recovery-focused care, in a part of greater Cincinnati with an established base of hospital and specialty-care providers.”
Nearby Butler County healthcare providers include Cincinnati Children’s Liberty Campus, The Christ Hospital Medical Center–Liberty Township, and UC Health’s West Chester Hospital. Liberty Township’s population grew from 37,259 in 2010 to 43,999 in 2020, according to the U.S. Census Bureau. Vital Capital cited a township estimate of 800 to 900 new residents a year.
“Rehabilitation hospitals fill a focused, needs-based role in the care continuum, and we believe demand for post-acute recovery care will continue to grow as the population ages,” said Thùy Turner, co-founder and co-managing partner of Vital Capital Partners.
The Liberty offering follows Vital Capital Medical – Temple TX DST, which fully subscribed in July after raising approximately $16 million in equity from accredited investors for a build-to-suit inpatient rehabilitation hospital in Central Texas. The company said the raise took less than five months. Vital Capital launched the Temple DST in March after acquiring the LifePoint Health-operated Temple property in February, a deal the firm described as the launch of its wholly owned sponsor platform.
In September, Vital Capital fully subscribed the $9.67 million equity portion of HPA Exchange – Vital Medical Dallas TX DST, backed by a property leased to Nexus Dallas Children’s Hospital, after raising the offering’s distribution rate to approximately 6.04% of equity from 5.35%, effective June 1, according to the company. The company said it has sponsored three fully subscribed healthcare DST offerings.
The launch comes as DST fundraising runs ahead of last year’s pace. DST sales totaled approximately $8.39 billion through October, up 26% from the $6.65 billion raised through the same period in 2025, according to Mountain Dell Consulting data AltsWire reported Nov. 4. Taylor Garrett, president of Mountain Dell, told attendees at the Alternative & Direct Investment Securities Association annual conference in October to anticipate about $10.2 billion in equity by year’s end.
Vital Capital Partners was founded in 2024 by Lee and Turner and is based in Irvine, Calif.
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