Healing Realty Trust (HRT), a data-driven, self-managed real estate investment trust (REIT) focusing on healthcare-related properties, has recently entered into Preferred Real Estate Partnership Agreements in Florida, Massachusetts, and Arizona. This strategic move aims to bolster the company’s portfolio with clinic-focused properties, enhancing its presence in the mental, behavioral, and physical health sectors, including innovative psychedelic therapies. The announcement follows the successful closure of the first tranche of a $25 million Series A funding round, securing acquisitions of three operating healthcare facilities in Texas, Ohio, and Connecticut.
HRT’s partnerships include NeuroSpa in Florida, Cambridge Biotherapies in Massachusetts, and Cathexis in Arizona. These collaborations are designed to expand patient access to advanced treatment modalities such as ketamine infusion, Spravato, transcranial magnetic stimulation (TMS), and various psychotherapy services. CEO Joe Caltabiano highlighted the increasing demand for innovative therapies, noting that these partnerships will significantly enhance the delivery of critical health services across these states.
Financially, HRT’s strategy is poised to tap into the burgeoning healthcare real estate market, which is projected to reach $136.6 billion by 2032. The company focuses on acquiring triple net (NNN) leased healthcare-related assets, managing both property acquisition and interior buildout. This approach optimizes the properties for each tenant or practitioner, ensuring they are equipped to perform traditional healthcare practices and support innovative treatments.
HRT’s operational strategy includes leveraging its exclusive relationship with HealingMaps, a leading data provider in the multidisciplinary health space. This partnership allows HRT to source properties in high-demand regions using proprietary, real-time insights, thus identifying high-quality properties such as medical offices, dialysis centers, mental health and ketamine clinics, rehabilitation centers, and alcohol and drug treatment facilities. Currently, HRT’s pipeline includes over 700,000 square feet of healthcare real estate nationwide, indicating significant growth potential.
Brendan O’Connor, COO & CFO of Cambridge Biotherapies, expressed enthusiasm for the partnership with HRT, emphasizing the strategic value of HRT’s expertise in addressing the real estate needs of psychedelic therapy providers. This partnership will enable Cambridge Biotherapies to expand into underserved communities, enhancing access to essential mental health treatments.
Daniel Carcillo, COO of Healing Realty Trust, underscored the challenges associated with clinical expansion and the role of HRT in providing turnkey real estate solutions. By addressing the infrastructure needs of healthcare providers, HRT is helping to alleviate the operational stress associated with real estate searches, allowing clinicians to focus on delivering care.
Nate Upshaw, Medical Director at NeuroSpa, highlighted the benefits of partnering with HRT, particularly in overcoming the hurdles related to clinic rollout and growth, such as high initial capital investments and suitable real estate requirements. HRT’s specialized industry expertise facilitates a targeted planning process, ensuring efficient and effective clinic expansions.
In conclusion, Healing Realty Trust’s strategic partnerships and robust financial performance underscore its commitment to revolutionizing the healthcare real estate investment space. By focusing on the acquisition and management of healthcare-related properties, HRT is well-positioned to capitalize on the growing demand for innovative health services and contribute significantly to the advancement of mental and behavioral health treatments.