Top1031

Nexus Children's Hospital - Dallas

Healthcare property in Dallas, TX · sponsored by HPA Exchange

Sold outReported fully subscribed Sep 22, 2026 · latest Form D Sep 25, 2025
Source, Sep 22, 2026 (opens in a new tab)

Nexus Children's Hospital - Dallas is a DST sponsored by HPA Exchange that owns a healthcare property in Dallas, TX (86,880 SF). Its latest Form D, filed Sep 25, 2025, lists a $19.9 million offering with a $102,999 minimum.

Key facts

Minimum investment
$102,999
From the Form D
Offering size
$19,920,000
Equity offered, per the Form D
Sold so far
Not reported after the first Form D (Sep 25, 2025)
Form D, Sep 25, 2025
Selling commissions
$894,475 · 4.4% of offering
Form D Item 15; the % is our arithmetic
Financing
Leveraged. This offering reports mortgage debt on the property.
How it is financed ↓
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.

Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →

Can I still invest?

No new interests: the offering is reported fully subscribed as of Sep 22, 2026.

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Availability changes without a filing. The sponsor or a registered representative can confirm what is open.

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Ask a 1031 specialist about this recordFree. About: Nexus Children's Hospital - Dallas. Top1031 is not a broker-dealer.
Location map9525 Greenville Ave., Dallas, TXAddress matched to a cited source

No photo on record.

What does the Trust own?

Sponsor materials say the building was fully renovated for Nexus Dallas Children's Hospital in 2022. 4 The Trust bought it on August 29, 2025 for a reported $17,100,000, and offering materials marketed the real estate as fully occupied. 1 Vital Capital Partners reported on June 23, 2026 that the tenant had installed a children's playground and made elevator and other infrastructure improvements. 3

Property address
9525 Greenville Ave., Dallas, TX
Property size
86,880 SF, 30 beds (expandable to 60), 3.64 ac

Tenant and lease terms are not in the SEC filings or cited sources.

How is it financed, and what did it cost to sell?

This Trust carries a mortgage rather than owning the hospital free and clear, so an investor holds a fractional interest in a financed building. Sponsor materials describe acquisition funding anchored by a $10,250,000 senior loan from First Horizon Bank alongside $9,670,000 of investor equity. 1

Debt

Financing
Leveraged. This offering reports mortgage debt on the property.

Costs and terms from the Form D

Selling commissions
$894,475 · 4.4% of offering
Finders’ fees
$0
Paid to officers, directors and promoters
$1,925,525 · 9.6% of offering
Form D Item 16
· The filing’s note: “An estimated $450,000 of this will go to an affiliate for bridge financing”
Broker-dealers named in the Form D
1 named in the Form D
Show the firms

Individual representatives named in Item 12 are not listed.

Date of first sale
Not in the Form D
Minimum investment
$102,999

Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.

What does the SEC record show?

The Trust's Form D, the notice an issuer files to claim a private-placement exemption, has not been amended since it was filed. Its stated offering amount covers debt and equity together rather than equity alone. 1 The exemption claimed permits general advertising but requires verifying each investor's accredited status.

Legal Trust name
HPA Exchange - Vital Medical Dallas TX DST
SEC CIK
2086252
First Form D
Sep 25, 2025
Latest Form D
Sep 25, 2025
Filings on record
1
Offered under
Rule 506(c)
May be advertised publicly. Every buyer’s accredited status must be verified.
Source filing
Read the filings on SEC EDGAR

SEC Form D filings, newest first

FiledFormOffering amountAmount sold
Form D$19,920,000
$0
EDGAR

Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.

A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.

Common questions

Can I still invest in Nexus Children's Hospital - Dallas?
No new interests: Nexus Children's Hospital - Dallas is reported fully subscribed as of Sep 22, 2026. Top1031 lists it as recently fully subscribed and does not count it as an active offering.
What does this Trust own?
It owns a single specialty children's hospital at 9525 Greenville Avenue in Dallas, Texas: about 86,880 square feet with 30 beds, expandable to 60, on 3.64 acres. Baker 1031's listing of the sponsor's offering materials describes the property as acquired by the Trust on August 29, 2025 for a reported $17,100,000 and marketed as 100% occupied. HPA Exchange's launch announcement says the building underwent a full renovation for Nexus Dallas Children's Hospital in 2022.
Who occupies the hospital, and what does the lease structure mean for an investor?
Nexus Children's Hospital - Dallas, LLC operates the building, with Nexus Health Systems, Inc. guaranteeing its performance, according to the sponsor's offering materials. There are two layers: the Trust master-leases the property to an affiliated master tenant under a ten-year lease with three five-year renewal options, and that master tenant subleases to the operator. The sublease is described as absolute triple-net through March 31, 2038, with 2.5% annual rent escalations and automatic five-year renewals, meaning the operator carries taxes, insurance, utilities, maintenance and structural repairs. The guaranty language and default remedies sit in the offering documents.
Is the Trust leveraged, and who is the lender?
Yes. Sponsor offering materials report a $10,250,000 senior loan from First Horizon Bank funding the acquisition alongside $9,670,000 of investor equity, so investors own a fractional interest in a mortgaged building. The SEC Form D does not state loan terms; rate, maturity, amortization and prepayment provisions sit in the loan documents and the offering documents.
Why is the SEC offering amount larger than the $9.67 million the sponsor cites?
They measure different things. Sponsor materials attribute the remaining $10,250,000 to the First Horizon Bank senior loan. The capitalization table in the offering documents sets out the full breakdown.
What is the minimum investment?
The Form D filed with the SEC on September 25, 2025 reports a minimum investment accepted from any outside investor of $102,999. Minimums of this kind can vary by selling agent and can be changed by supplement, and the subscription documents and offering documents govern the figure that applies to a given investor.
Who sponsors the Trust, and can it convert into a REIT?
HPA Exchange is the named sponsor, and Vital Capital Partners said on September 8, 2026 that it sponsored the offering through a joint venture, distributed through independent broker-dealer and registered investment adviser channels.

In the news

Sources

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These links support the record as a whole; individual details may come from different sources.

DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.