Healthcare Property Advisors has launched HPA Exchange LLC, a real estate investment sponsor that will provide accredited investors with private placement opportunities anchored by medical properties. The firm will initially focus on Section 1031 exchange offerings.
HPA Exchange will target healthcare real estate within secondary growth markets that exhibit strong operating fundamentals, stable health system environments and a growing aging population. The firm seeks to offer investment grade core and core-plus institutional quality properties that are operated by best-in-class healthcare systems, established physician groups and life science groups for outpatient purpose-built facilities.
HPA Exchange is led by a seasoned management team with an average of 25 years of experience in healthcare real estate, including Thùy Turner and Robert Lee, who serve as co-presidents.
“The healthcare industry has historically been recession resilient with predictable occupancy rates, paving the way for the potential of long-term reliable cash flows and strategic value-add opportunities,” said Turner, co-president and chief operating officer of HPA Exchange. “Non-high-acuity healthcare is also transitioning from large acute care environments like hospitals to well-located and well-designed strategic ambulatory care, typically closer to neighborhoods.”
Lee, co-president and chief investment officer of HPA Exchange, added, “These types of facilities still maintain the various services found in hospitals like imaging, pharmacies, labs and specialty care, but are designed to service the community for better access and efficiency. These modern facilities improve the patient experience, creating shorter wait times and typically lower costs than traditional hospital environments. Some traditional, seasoned hospital brands are in these modern buildings to establish a high-end retail experience, while capturing and expanding their patient care network.”
Turner, who was a co-founder of Healthcare Property Advisors in 2014, leads HPA Exchange’s asset and property management initiatives and overall operations. Her previous tenures include Arden Realty, Equity Office and Schnitzer Northwest. She earned a bachelor’s degree from the University of California, Irvine, and an MBA from California State University, Fullerton.
Lee joined Healthcare Property Advisors in 2016 and has since led the acquisition and capital markets activity of more than $580 million in healthcare properties across the U.S. He leads the acquisition strategy, capital development and investment management efforts for Healthcare Property Advisors. He earned a bachelor’s degree from Eastern Kentucky University and an MBA, with a focus in finance, from Pepperdine University’s Graziadio Business School.
