Brea, Calif. – April 12, 2018 – HPA Realty, Inc., a real estate development, brokerage, and property management firm in the healthcare industry has purchased approximately 195,000 square feet of industrial and medical offices at 2727 and 2767 Imperial Highway, with one of the anchoring tenants as St. Jude Medical Center, for approximately $47,300,000. HPA represented the buyer and will also serve as the leasing and property manager for the Brea Imperial Centre.
According to HPA President James McGrade, the purchase was made through HPA’s Growth Fund as a strategic investment in the future growth and planning of the hospital. This acquisition follows a recent purchase of another medical office building at 101 Laguna Road in Fullerton.
The HPA Growth Fund, which is managed by Healthcare Property Advisors, is capped at USD $1 billion, and its institutional partners. For additional information and real estate investment opportunities, contact Senior Vice President of Acquisitions & Capital Development, Robert Lee at Robert.Lee@ii-hpa.com
HPA, a subsidiary of The Innovation Institute, is a commercial real estate developer, brokerage and property management firm with a focus on the healthcare industry. The management team is highly experienced in all aspects of acquisition, disposition, and management of medical and commercial properties. The company was acquired by The Innovation Institute in August 2014. HPA is one of several portfolio companies that share the Innovation Institutes (II’s) strategic platform and benefits from veteran executives from several of the nation’s top healthcare systems. For more information, visit www.ii-hpa.com.
About The Innovation Institute
The Innovation Institute is an independent, for-profit LLC structured to cultivate innovative solutions to transform healthcare delivery. The Innovation Institute is owned by non-profit health systems. This collaboration taps into physicians, employees, and industry business partners to incubate and commercialize new medical products and ideas. Comprised of three distinct elements – an innovation lab, an investment fund, and a shared services group (Enterprise Development Group), The Institute strives to “do more, with less, for more people.” For more information, visit lab.ii4change.com.