Lincoln Property Company and PGIM have acquired a two-building outpatient medical portfolio in the Dallas-Fort Worth Metroplex totaling 103,000 square feet. The assets were purchased in separate transactions and expand Lincoln’s national healthcare investment platform in North Texas.
The portfolio includes 17051 N. Dallas Parkway in Addison, Texas, and the Rayzor Ranch Medical Building in Denton, Texas. SRP Medical sold the Addison asset, while Prime Denton Properties sold the Denton facility. Both properties are described as Class A outpatient medical buildings and are positioned in established healthcare nodes along two of the Metroplex’s fastest-growing corridors.
Each building is located immediately adjacent to acute care and surgical hospital campuses, underscoring their focus on serving nearby hospital systems and specialized care providers. The proximity to hospital campuses supports a tenant mix oriented toward outpatient and specialty medical services.
Collectively, the properties are 84% leased to a range of healthcare users. The tenant roster includes Texas Health Resources and Methodist Health System, along with physician groups spanning multiple specialties. These specialties include outpatient surgery, primary care, orthopedics, neurosurgery, pain management, gastroenterology, dermatology, ophthalmology, mammography, and behavioral health, reflecting a diversified base of clinical users and referral sources.
By adding the two Class A buildings to its holdings, Lincoln’s healthcare platform gains additional scale in the North Texas outpatient medical segment. The portfolio’s leasing profile and adjacency to major hospital campuses align with ongoing demand for outpatient and specialty medical space in established healthcare clusters within the Metroplex.
PGIM participated in the acquisitions through its Real Estate Investment Group, which has $217 billion in gross assets under management and administration. The involvement of a large institutional real estate investor further underscores continued capital interest in well-located, health system-adjacent medical office properties.
The transactions highlight the role of outpatient medical buildings positioned within mature healthcare nodes and along growth corridors in the Dallas-Fort Worth area. With strong health system tenancy and a broad mix of physician specialties, the portfolio adds to the region’s inventory of purpose-built, Class A medical space catering to both hospital-affiliated and independent providers.
