Healing Realty Trust Closes First Tranche of Series A to Expand Clinic-Focused Portfolio for a New Generation of Medicine
Investment to fund acquisitions of three operating healthcare facilities in Texas, Ohio and Connecticut, totaling ~88,000 square-feet
Jupiter, Florida–(Newsfile Corp. – June 18, 2024) – Healing Realty Trust (“HRT” or the “Company”), formerly known as Healing Commercial Real Estate Inc., a data-driven, self-managed real estate investment company with a portfolio centered on purchasing healthcare-related real estate assets dedicated to serving the mental, behavioral, and physical health sectors, as well as in the advancement of innovative and emerging psychedelic therapies, announced it has closed the first tranche of its $25 million Series A funding round. The investment secures the acquisition of three operating healthcare facilities in Texas, Ohio and Connecticut, supporting the growth of HRT’s clinic-focused real estate portfolio.
HRT is addressing the lack of clinical infrastructure in the U.S. to support the administration of critical healthcare services and novel treatments, such as psychedelic-assisted therapies, in the behavioral health market, which is projected to reach $136.6 billion by 2032. The Company intends to acquire triple net (NNN) leased healthcare-related assets, managing both property acquisition and interior buildout to optimize the properties for each tenant or practitioner to perform traditional healthcare practices and support the advancement of innovative treatments.
“We are thrilled by the passionate investor support and confidence in our mission to revolutionize the conventional real estate investment space,” said Joe Caltabiano, CEO of HRT. “Wellness properties have been historically overlooked by healthcare-focused REITs despite being the fastest growing area of the wellness economy. As a first mover in this sector, we have cornered an untapped, high-growth opportunity as Americans become more interested in innovative treatments and demand for new medications increases.”
The investment round funds the acquisitions of three operating healthcare facilities for approximately $8.1M with an average cap rate of 10.97%. These properties include a ~36,000 square-foot outpatient center in Texas, a ~37,000 square-foot medical office complex in Ohio, and a ~15,000 square-foot Davita Dialysis anchored medical and office building in Connecticut. By leveraging its exclusive relationship with HealingMaps, a leading data provider connecting patients with practitioners in the multidisciplinary health space, HRT sources properties in high-demand regions using proprietary, real-time insights. With a growing pipeline of over 700,000 square-feet of healthcare real estate nationwide, the Company continues to identify high-quality properties, including medical offices, dialysis centers, mental health and ketamine clinics, rehabilitation centers, and alcohol and drug treatment facilities.
Joe Caltabiano continued, “Our ability to successfully secure funding in such a unique and challenging environment is a testament to the dedication and passion of our team. It was made possible by leveraging the invaluable wisdom held by every member across countless strategic sectors, grounded in our shared commitment to making a positive difference. With our increased capital backing, strong relationships, and experienced leadership, we have laid the groundwork to build a network for today’s critical health services and tomorrow’s medicine.”
Hunton Andrews Kurth LLP acted as legal advisor to HRT. Venable LLP acted as Maryland counsel to HRT.
About Healing Realty Trust
Healing Realty Trust (HRT), formerly known as Healing Commercial Real Estate Inc., is a data-driven, self-managed real estate investment company with a portfolio centered on purchasing healthcare-related real estate assets dedicated to serving the mental, behavioral, and physical health sectors, as well as in the advancement of innovative and emerging psychedelic therapies.
Forward Looking Statement
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Series A stock or any other securities, nor shall there be any sale of such Series A stock or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. In addition, this press release contains certain “forward-looking statements” within the meaning of the federal securities laws. The forward-looking statements made in this press release are made only as of the date of this press release or as of the dates indicated in the forward-looking statements, even if they are subsequently made available by the company on its websites or otherwise. The company undertakes no obligation to update or supplement any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances that exist after the date as of which the forward-looking statements were made, except as required by law.
Media Contact
MATTIO Communications
healingrt@mattio.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213388
