Real estate investment company Healing Realty Trust (HRT) has just entered into Preferred Real Estate Partnership Agreements with Florida, Massachusetts and Arizona to enhance the company’s clinic-focused portfolio.
HRT will partner with:
- NeuroSpa, a Florida-based mental healthcare provider combining traditional and state-of-the-art treatments including ketamine infusion, Spravato and TMS
- Cambridge Biotherapies, a Massachusetts-based provider of patient-focused treatments for mood and anxiety disorders using ketamine infusion, Spravato, TMS, medication management, and Ketamine-assisted Psychotherapy, and
- Cathexis, an Arizona-based provider of individual, family and group outpatient therapy services
The announcement comes on the heels of HRT closing the first tranche of its $25 million Series A funding round, securing the acquisitions of three operating healthcare facilities in Texas, Ohio and Connecticut, the company states.
Addressing the Lack of Psychedelic Clinical Infrastructure
According to HRT CEO Joe Caltabiano, mental and behavioral health treatments are lacking as a whole in the U.S. “People are just getting band-aid-type treatments instead of curative measures — treating symptoms rather than the root causes,” he says. “The very concept of psychedelic therapy is designed to get in and unlock the barriers that are preventing us from talking about traumatic events.”
Not only are mental and behavioral health treatments lacking, but there is also a current lack of clinical infrastructure in place in the U.S. to support psychedelic-assisted therapies.
“Psychedelic-assisted therapy has a longer duration time than regular therapy,” says Caltabiano. “For example, for Johnson & Johnson’s SPRAVATO®, the drug has a two-hour requirement for the patient to remain in the therapy provider’s supervision after administration. Two hours in a clinic is a significantly longer time than a normal therapy session, which means more infrastructure is needed.”
HRT is addressing this lack of clinical infrastructure in the U.S. to support the administration of critical healthcare services and novel treatments in the behavioral health market, which is projected to reach $136.6 billion by 2032. HRT intends to acquire triple net (NNN) leased healthcare-related assets, managing both property acquisition and interior buildout to optimize the properties for each tenant or practitioner to perform traditional healthcare practices and support the advancement of innovative treatments, the company states.
“By bringing these new therapies into spaces with a much larger square footage, they are better able to treat patients,” notes Caltabiano. “We are looking forward to more coming from the industry. Down the pipeline of FDA drugs, I think it’s a matter of when, not if, these psychedelic drugs will get introduced.”
Offering Clinic Space to Treatment Centers
Through its relationship with HealingMaps, HRT sources properties in high-demand regions using real-time insights. With a growing pipeline of over 700,000 square-feet of healthcare real estate nationwide, the company continues to identify properties, including medical offices, dialysis centers, mental health and ketamine clinics, rehabilitation centers, and alcohol and drug treatment facilities.
“As we get vacancies and buy these buildings, we are aware of a number of ketamine operators within a certain mile radius,” explains Caltabiano. “We also try to ensure the locations are near hospitals. Many times, real estate comes second for doctors and physicians, so we are trying to carve out a space in our facilities that meet their needs.”
By leveraging its expertise in a targeted planning process, HRT plans to continue to help clinics move past hurdles associated with rollout and growth, such as high initial capital investment and suitable real estate requirements.
