HPA is a vertically integrated Healthcare real estate investor with a discretionary fund seeking new investments in 2022. We will consider core, core-plus, value-add and build-to-suite, sale-leaseback opportunities nationally in the healthcare space including medical office, in patient rehab and life science space. HPA seeks to acquire over $500m in acquisitions in 2022, we hope you can help! See below for our criteria. Please forward along an email with your full contact info and any on market or near future opportunities you may have. We are based in Orange County, CA but transact nationally.

We look forward to working with you soon!

PROPERTY TYPES:

Healthcare/ Medical Office

• Single-Tenant- Net-Lease (STNL)

• Multi-tenant MOBs/ Outpatient Assets

• Will look at retail-locations if strong medical use and industrial

• Prefer non-condo status

• Industrial, warehouse, medical office (single and multi-tenant)

• Other uses: Life Sciences, Behavioral Health, Rehabilitation, and Micro Hospitals.

LEASE TYPES:

• NNN and NN leases with limited exposure and liability to expenses

• Real estate needs to have true healthcare use with specialty build-out

• Lease rates need to be at or below market

• Majority of leases need to be NN/ NNN in structure

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LEASE TERM:

• Core-Plus: 7 -20 years NNN

• Value Add: 2.5 years or longer; opportunity to blend extend

TENANT CREDIT:

• Investment and sub‑investment grade

• Will consider private companies that have strong balance sheets and operating history

• Anchor Tenant must be “Sticky”/ Mission Critical and have strong financials

• Prefer affiliation with local hospital, or proven group within market with some scale

• Will work with physician groups with specialty focus and can accommodate with 1031/ 721 UPREIT or deferred gains for future upside on sale-leasebacks

• Able to provide creative structures for tenants/sellers who wish to stay in or spread-out gains

LOCATION:

• Nationwide; focused on tenant credit, and affiliation with hospitals or strong physician groups

• Avoiding Gateway cities with below 5% cap pricing

• Focused on proximity to hospital and tenant quality; allows expansion into secondary tertiary markets with higher cash/cash upside

DEVELOPMENT:

• We will only consider built‑to‑suit properties that are in the development process.

• We do not take entitlement risk

PRICE/SIZE:

• $8,000,000 to $100,000,000 (single asset) / No Limit for portfolio size.

Please send all opportunities to : Investments@ii-hpa.com