Lincoln, PGIM Add Two DFW Medical Office Buildings To Healthcare Portfolio

Lincoln Property Company and PGIM have acquired two Class A outpatient medical office buildings totaling approximately 103,000 square feet in the Dallas-Fort Worth Metroplex.

The properties — 17051 N. Dallas Parkway in Addison and the Rayzor Ranch Medical Building in Denton — were purchased in separate transactions and are collectively 84% leased to health systems and specialty medical providers.

SRP Medical sold the Addison property, while Prime Denton Properties sold the Denton building. Financial terms of the acquisitions were not disclosed. Both buildings are immediately adjacent to acute-care or surgical hospital campuses, positioning them within established healthcare clusters in two growing North Texas corridors.

The tenant roster includes Texas Health Resources and Methodist Health System, along with physician practices providing outpatient surgery, primary care, orthopedics, neurosurgery, pain management, gastroenterology, dermatology, ophthalmology, mammography and behavioral health services.

The acquisitions expand Lincoln’s healthcare investment platform in North Texas and follow the formation of a broader partnership between Lincoln and PGIM focused on outpatient medical properties nationwide. The companies established that investment venture in late 2025 to pursue core-plus and value-add healthcare real estate opportunities across multiple U.S. markets.

Hospital-adjacent medical office properties can offer investors exposure to outpatient healthcare demand while benefiting from proximity to major health systems and established referral networks. In this case, the diversified tenant base across numerous medical specialties also reduces reliance on a single type of healthcare user.

Source: Public Now