Healing Realty Trust has expanded rapidly in the medical real estate sector, growing its portfolio from $12 million to $26 million in assets over nine months, according to Cody Shandraw, President of the company. The firm’s strategy centers on leveraging proprietary data analytics and targeting a market segment often overlooked by larger competitors.
“The company was actually started. I had a VC fund, Ambria Capital, that was brought in as a partner in 2019 and they were investing in all different types of emerging industry, and one of them was psychedelics medicine,” said Shandraw, who moved from venture capital to real estate investment. Healing Realty Trust originated from investments in psychedelic medicine clinic operators who faced challenges with site selection.
The company’s growth accelerated after the addition of CEO Joe Caltabiano, who previously built and exited Cresco Labs’ real estate portfolio to a public REIT. “Right after that was when we turned the jets on. So last year, we ended the year with just over $12 million of assets, and we have just been in growth mode ever since then,” Shandraw noted.
According to Shandraw, several key factors have driven Healing Realty Trust’s growth:
Specialized Team: The company was built around highly defined roles. “Each person has a specific function,” Shandraw explains. “Our CFO, Zed, is a lifelong CPA, while Valerie, our Director of Acquisitions, has handled nearly a billion dollars in medical real estate transactions.”
Data-Driven Approach: Data plays a central role in every decision. “From a site selection standpoint, there are 64 markets across the country that meet our exact criteria,” he notes.
Focused Asset Strategy: Healing Realty Trust maintains a disciplined focus on medical properties. “We only buy medical, that’s all that’s in our portfolio and all we’ll ever buy,” says Shandraw. “We don’t do ground-up development or take on properties with zoning or entitlement risks. We focus strictly on in-place, cash-flowing assets.”
Shandraw emphasized their focus on acquiring properties from aging owners. “Almost every single building outside of one that we bought has been from an aging seller. In most cases, has owned their real estate for a very long time, or in even some cases, developed their real estate 10, 15, 20 years ago,” he explained.
These sellers are often community-connected owners who have maintained their properties well but are now looking to liquidate for estate planning.
The company’s longer-term plans include institutional capital raises and possible exit opportunities within 24 to 36 months, through either a competitor acquisition or going public on a major exchange.
Shandraw views Healing Realty Trust as well-positioned to benefit from shifts in healthcare delivery and demographic trends, with a pipeline of nearly $300 million in potential assets. The firm’s data-driven approach supports scalable growth in the medical real estate sector.
