HPA Exchange Acquires Nexus Dallas Children’s Hospital Property
HPA Exchange LLC, a healthcare real estate investment sponsor created by the executive team of Healthcare Property Advisors, has acquired an 86,880-square-foot hospital located at 9525 Greenville Ave. in Dallas. It is occupied and operated by Nexus Dallas Children’s Hospital.
“We are pleased to add this state-of-the-art hospital to our portfolio, a facility that reflects both the strength of the Dallas healthcare market and the quality of the properties we strive to acquire,” said Robert Lee, co-president and chief investment officer of HPA Exchange. “This acquisition underscores our commitment to acquiring mission-critical healthcare properties with long-term, stable tenancy, and it highlights our ability to align with leading operators like Nexus Health Systems that deliver essential care to their communities.”
The 3.64-acre property was built-to-suit Nexus Dallas Children’s Hospital, a subsidiary of Nexus Health Systems, via a full building renovation in 2022. The property is on an absolute triple net lease, guaranteed by Nexus Health Systems. The hospital includes 30 beds, with the potential to expand to 60.
Nexus Dallas Children’s Hospital cares for patients of all ages with brain and spinal cord injuries, complex medical conditions, and other serious diagnoses. Acting as a bridge between acute hospitals and home, it offers seven care programs across 10 specialized services, including: cognitive therapy, occupational therapy, outpatient services, physical therapy, psychiatry and behavioral management, recreational therapy, respiratory/pulmonary therapy, speech therapy, vocational therapy and wound care.
“This hospital represents the type of specialized, patient-centered care environment that communities increasingly rely on outside of large acute care campuses,” added Thùy Turner, co-president and chief operating officer of HPA Exchange. “Purpose-built, modernized, and backed by a long-term absolute triple net lease, we believe this hospital reflects the quality, stability and value that defines our portfolio strategy.”
Home to an estimated 8.3 million people as of July 2024, according to the U.S. Census Bureau, the Dallas-Fort Worth-Arlington metropolitan statistical area experienced more than 9.2% growth in population between 2019 and 2024. The area is home to approximately 120 hospitals and primary care facilities, earning more than $28 billion in combined revenue each year, Cause IQ reports.
Earlier this year, HPA Exchange fully subscribed HPA Dignity Health Arizona DST, affiliated with a full-service micro-hospital in Phoenix. The DST offering raised $15.4 million in equity from accredited investors.
Headquartered in Brea, Calif., HPA Exchange LLC is a real estate investment sponsor that provides private placement offerings focused on medical properties anchored by credit-tenant healthcare systems, physician groups, life science groups and other outpatient facilities. A joint venture between Vital Capital Partners and The Innovation Institute, HPA Exchange was created in 2024 by the executive team of Healthcare Property Advisors, an institutional real estate fund manager, owner, operator and developer. The vertical integration of the firm allows HPA to leverage the relationships with a large network of healthcare systems, and provide active asset management, investment and development of medical office buildings and outpatient facilities.
Healthcare Property Advisors’ executive team has acquired or advised on the investment of more than $1 billion in healthcare-related properties since 2014.
Click here to visit the AltsWire directory page.
