2 Programs on record · filing history back to 2024 · 1 classified as raising now
Website not on record
Programs on record2
First filed2024
Raising now1
Finished with published result—
Sponsor-reported, from SEC filings and cited sources.
Chapter 1
What the record shows
HPA Exchange, also styled HPA Xchange, is a healthcare real estate investment manager and Delaware statutory trust sponsor presented as a joint venture between Vital Capital Partners and The Innovation Institute. Its May 2024 launch announcement said the firm would initially concentrate on Section 1031 exchange offerings anchored by medical properties for accredited investors. The sponsor says it acquires and actively manages single- and multi-tenant medical and life-science properties nationwide through DST ownership, 721 exchange structures, joint ventures, and healthcare-focused funds. In February 2025 it reported that its HPA Dignity Health Arizona DST, holding a Phoenix micro-hospital fully leased to Dignity Health, was fully subscribed with $15.4 million in equity.
Sponsor-stated figures are as reported by the sponsor.Evidence 123456
Chapter 2
Raising money now
Classified active by Top1031 from the SEC filings. That does not confirm an offering is still available to buy.
Not confirmed yetAmount sold: not confirmed yet. Top1031 has not been able to confirm how much of this offering has sold.
Active
Chapter 3
Programs on the record
A Program is the filing-level offering record associated with this sponsor. Published-result figures are shown only with sponsor attribution and adjacent sources.
No evidence of sale or full cycle; HPA Exchange acquired the Dignity Health micro-hospital at 7171 S 51st Drive, Laveen Village, Phoenix, AZ for $30.3M in July 2024, the DST was filed Oct 16, 2024 and fully subscribed at $15.4M equity on Feb 25, 2025, and the hospital continues to operate 24/7 under Dignity Health (Becker's Hospital Review, Jul 30, 2024; PR Newswire, Feb 25, 2025).
HPA Exchange, also styled HPA Xchange, describes itself as a healthcare real-estate investment manager and sponsor serving financial advisors, registered investment advisers, broker-dealers, and their accredited-investor clients 1. The firm presents itself as a joint venture between Vital Capital Partners and The Innovation Institute 2. Its launch release of May 17, 2024 said the new company would initially focus on Section 1031 exchange offerings, providing accredited investors private-placement opportunities anchored by medical properties 3.
Investment focus
The sponsor says it acquires, owns, and actively manages single- and multi-tenant medical and life-science-centric properties throughout the United States, and that it uses DST ownership, 721 exchange structures, joint ventures, and healthcare-focused fund vehicles 4. Its stated targeting concentrates on strategically essential, mission-critical assets with primarily institutional-grade or high-quality tenants, including health systems and physician groups 4. The firm describes its private-placement programs as anchored by institutional-quality tenants such as investment-grade healthcare systems, large physician groups, life-science groups, and other specialty medical outpatient facilities 1.
Program record
On February 25, 2025, HPA Exchange announced that its HPA Dignity Health Arizona DST was fully subscribed, having raised $15.4 million in equity from accredited investors; the completed Arizona trust comprised a full-service Phoenix micro-hospital that was 100% leased to Dignity Health 5. On September 9, 2025, the sponsor announced its acquisition of an 86,880-square-foot hospital at 9525 Greenville Ave. in Dallas, occupied and operated by Nexus Dallas Children's Hospital 6.
HPA Exchange Acquires Nexus Dallas Children's Hospital PropertyHPA Exchange acquires an 86,880-sq-ft hospital at 9525 Greenville Ave., Dallas — occupied and operated by Nexus Dallas Children's Hospital — under an absolute triple net lease guaranteed by Nexus Health Systems.