Gray Harbor Government Income REIT Acquires Texas VA Facility
Gray Harbor Government Income REIT Inc., a perpetual, private non-traded real estate investment trust that made its first sale in January 2021, has acquired a one-story, 25,963-square-foot facility that is 100% leased to the U.S. Department of Veterans Affairs, or VA. The purchase price was not disclosed.
The REIT is selling shares via a Regulation D 506(c) private placement offering distributed through the registered investment adviser channel to accredited investors. It is externally advised by Gray Harbor Government Advisors LLC, a wholly owned subsidiary of Gray Harbor Capital LLC.
The property is located at 311 Spring Green Blvd., in Victoria, Texas. Victoria serves as a regional economic hub located within a two-hour drive of Austin, Houston, San Antonio, and Corpus Christi. The modern, build-to-suit facility sits on 4.16 acres and serves as a vital hub for the veteran community. The property is located in the Springwood Medical Plaza, which includes PAM Health Specialty Hospital, DeTar Hospital North, Warm Springs Specialty Hospital, and several other medical practices.
“We are honored to officially take ownership of the Veterans Affairs Outpatient Clinic in Victoria, Texas, today, and we look forward to serving our veterans with dedication, respect, and pride.” said Ed Stanton, co-founder and chief executive officer of Gray Harbor Government Income REIT.
The building is currently 100% occupied by the VA under a 15-year lease that expires in 2039. Construction was completed and the facility became operational in late December 2024. The property, according to Gray Harbor, incorporates state-of-the-art healthcare technology and provides primary care, labs and pathology, mental health care, nutrition, telehealth and social work. This newly constructed outpatient clinic replaced an older, smaller facility to offer better primary care and mental health services to veterans in the area.
The Texas VA property expands the company’s portfolio to 18 properties. The REIT reports an 11.5% trailing one-year annualized total return as of Dec. 31, 2025, and a 7.7% annualized total return since inception. Its net asset value was $1,150 at the end of 2025, a 9.6% increase from the previous month’s $1,049 and a 4.9% increase year-over-year.
The company’s NAV per share is calculated by an independent third-party semi-annually as of June 30 and Dec. 31 of each year and approved by the board.
Gray Harbor Capital is a boutique real estate and alternative investment firm headquartered in Sarasota, Fla., with offices located throughout the United States. Together with its affiliates, the firm specializes in the acquisition, development, and management of single-tenant properties leased to taxpayer-facing, mission-critical, and essential citizen service federal agencies situated across the United States. The firm pursues tax-deferred, stable income and long-term capital appreciation through a focused strategy on properties leased to federal agencies.
In addition to Gray Harbor Government Income REIT, the firm offers accredited investors Section 721, or UPREIT, contribution options and Section 1031 exchange opportunities.
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