Jupiter, Florida--(Newsfile Corp. - October 29, 2024) - Healing Realty Trust ("HRT" or the "Company"), 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 its $7.15 million acquisition of a multi-tenant medical office building in El Paso, Texas, enhancing the Company's clinic-focused portfolio. The announcement comes on the heels of HRT's recently closed real estate acquisitions in Dayton, OH and Beaumont, TX.
The 50,213 square-foot building is strategically located on Murchison Drive in central El Paso, one of the fastest-growing metropolitan areas in the nation. Situated within the Pill Hill Medical District on 2.23 acres, the property is leased to a diverse range of medical tenants including WellMed, Quest Diagnostics, Optum, and Universal Health Services, with the opportunity to further enhance occupancy. The building is within a few miles of major hospitals (including both HCA and Tenet hospital systems), ambulatory surgery centers, long-term acute care hospitals, the University of Texas El Paso campus, Texas Tech Medical School, and in convenient proximity to numerous expanding military bases, ensuring high visibility and accessibility.
"The El Paso property is a strong addition to HRT's growing portfolio as we continue to transform traditional real estate investment and enhance access to vital healthcare services across the country," said Joe Caltabiano, CEO of HRT. "With healthcare shifting beyond the walls of hospitals, we remain committed to supporting today's critical health services and leading the way in delivering tomorrow's cutting-edge treatments to meet the rising demand for care in non-hospital settings."
HRT is addressing the lack of clinical infrastructure in the U.S. to support the administration of critical healthcare services and novel treatments 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.
Through 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.
About Healing Realty Trust
Healing Realty Trust (HRT) 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.
Media Contact
MATTIO Communications
healingrt@mattio.com
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