Backed by executives with decades of
healthcare investment experience, firm will initially focus on
Section 1031 exchange offerings
ORANGE
COUNTY, Calif., May 17, 2024
/PRNewswire/ -- Healthcare Property Advisors announced today the
launch of HPA Exchange LLC, a new 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. We are excited to enter the private placement
marketplace and bring advisors and investors alike these new
healthcare investment opportunities."
Turner, who was a co-founder of Healthcare Property Advisors in
2014, leads HPA Exchange's asset and property management
initiatives and overall operations. She has gained extensive real
estate experience in her more than 25 years with HPA, as well as
previous tenures with 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. Lee has been an active commercial real estate
investment professional since 2001 and has founded and led multiple
real estate investment platforms and product types placing,
advising on, or investing in over $4
billion in real estate capital for institutional and private
investors. 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. Lee is a member of
the Young Presidents Organization (YPO) and holds the CCIM
designation.
"We are thrilled to announce the launch of HPA Exchange and
bring the ownership of needs-based healthcare real estate into the
hands of financial advisors and their investment clients," said
Lee. "Our firm will provide the opportunity to benefit from the
ownership of properties focused on essential or mission-critical
medical services within high-growth middle markets with solid
long-term investment fundamentals. We look forward to bringing our
in-depth experience to the private placement marketplace to help
investors diversify their portfolios into this attractive and
stable asset class."
Section 1031 of the Internal Revenue Code allows for the
deferral of capital gains taxes that may come from the sale of a
business or investment property. To participate, a seller reinvests
the proceeds of their sale into a replacement property that is of
equal or greater value, also known as a like-kind exchange. The
replacement property must be identified within 45 days, and the
exchange completed within 180 days in order to defer up to 100% of
any capital gain that resulted from the original sale. The gains
are deferred, not forgiven, and will be taxed once the replacement
property is sold or exchanged in another like-kind exchange.
About HPA Exchange, LLC
HPA Exchange, LLC is a new business platform created by the
executive team of Healthcare Property Advisors, a vertically
integrated healthcare real estate owner and operator. 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. Headquartered in Brea,
California, HPA Exchange 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. For
more information, visit www.hpaxchange.com.
Contact:
Julie
Leber
Spotlight Marketing Communications
949.427.1391
julie@spotlightmarcom.com
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SOURCE HPA Exchange, LLC