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Caddis

Full company profile

uuid000c1og

Namestring
Caddis
Legal namestring
Caddis Holdings, LP
Websiteurl
caddis.com
Company typeenum
Private
Founded yearint
2008
Descriptiontext

Caddis is a national real estate development, management, and investment firm focused exclusively on the healthcare sector. Founded in 2008 and headquartered in Dallas, the firm operates with 51-100 employees and serves healthcare clients across the United States, combining three interrelated business lines — development, asset management, and direct investment — under a single platform.

The firm's core activities span the full healthcare real estate value chain, including ground-up development of medical facilities, ongoing property management for healthcare assets, and principal-level investment in healthcare-related real estate opportunities. The legal entity, Caddis Holdings, LP, is structured as a limited partnership, and its investment activities extend beyond operating real estate into financial securities, as evidenced by a minority equity stake held and subsequently divested in Fermi Inc. (FRMI).

Caddis generates revenue through traditional real estate economics — development fees, management fees, and investment returns on owned or co-invested healthcare properties. Specific pricing models, customer segment breakdowns, and revenue figures are not disclosed in the available data. The firm maintains a private ownership structure with no parent company, no public ticker, and no disclosed subsidiaries. Its two founders, Carl Soderstrom and Clay Heighten, continue to lead the organization as founding members.

Short descriptiontext

Caddis is a national healthcare-focused real estate firm that develops, manages, and invests in medical properties across the United States. Founded in 2008 and based in Dallas, it serves healthcare clients with an integrated platform spanning development, asset management, and principal investment.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersDallas, United States
HQ citystring
Dallas
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
healthcare real estate development, medical office buildings, healthcare property management, real estate investment, medical facility development
NAICS code1 code
  • Real Estate and Rental and Leasing53
SIC code1 code
  • Lessors Of Real Property, Nec6519
Product category
Healthcare Real Estate Development
Social media profiles1 record
Cost components4 values
Personnel, Operations, Marketing or Sales, Infrastructure
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

Caddis is a national real estate development, management, and investment firm operating within the healthcare sector. The firm develops, owns, and manages healthcare-related real estate assets and deploys capital into healthcare property investments. Its activities span acquisition, ground-up development, leasing, and ongoing property management for healthcare tenants and providers.

Differentiator
Functional benefit
Problem solved
Product and service3 records
1Healthcare Real Estate Development
CategoryReal Estate Development
Description

Development of healthcare-related real estate assets for healthcare provider organizations and investors, including medical office buildings and related facilities.

2Healthcare Property Management
CategoryReal Estate Management
Description

Ongoing property management services for owned and client healthcare real estate assets, supporting healthcare tenants and operators across a national footprint.

3Healthcare Real Estate Investment
CategoryReal Estate Investment
Description

Investment in and long-term ownership of healthcare real estate assets through Caddis Holdings, LP, including acquisition of properties and deployment of capital into healthcare-related securities and assets.

Scale indicator1 record

Each record includes

Type, Value, Description, Source

Recent move2 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight1 record

Each record includes

Type, Description

Peers10 records
1Healthcare Realty Trust
TypeDirect peer
Description

Public REIT focused on outpatient medical facilities and healthcare-related real estate. Highly comparable to Caddis given the same healthcare real estate tenant base and similar MOB/outpatient focus, though at a much larger public-market scale.

2Medical Properties Trust
TypeDirect peer
Description

Public REIT focused on acute care and general acute-care hospitals. Directly comparable to Caddis in healthcare real estate investing, with overlapping development and landlord relationships with hospital operators.

3Welltower
TypeDirect peer
Description

Large public REIT focused on senior housing, outpatient medical, and post-acute care real estate. Comparable to Caddis in healthcare real estate investment and management across the continuum of care.

4Ventas
TypeDirect peer
Description

Public REIT with a healthcare-focused portfolio spanning senior housing, medical office, and life science. Comparable to Caddis across the healthcare real estate investment and management functions.

5NexCore Group
TypeDirect peer
Description

Private national healthcare real estate developer and investment manager. Closest direct private-market peer to Caddis given shared focus on healthcare development, ownership, and management of MOB and outpatient facilities.

6Hammes Partners
TypeDirect peer
Description

Private healthcare real estate developer and investment manager specializing in MOBs and ambulatory care facilities. Comparable to Caddis in integrated development and investment services for healthcare systems.

7Anchor Health Properties
TypeDirect peer
Description

Private real estate company focused exclusively on medical office and outpatient healthcare facilities. Comparable niche focus, tenant base, and integrated developer/investor model to Caddis.

8Pacific Medical Buildings
TypeDirect peer
Description

Private healthcare real estate firm that develops, owns, and manages medical office buildings and outpatient facilities. Closely aligned business model and customer profile to Caddis.

9JLL Healthcare
TypeBroad incumbent
Description

Major commercial real estate services firm with a dedicated healthcare practice offering leasing, property management, and capital markets services to health systems. Comparable customer base and broad real estate service overlap, though operating at much larger scale across multiple asset types.

10CBRE Healthcare
TypeBroad incumbent
Description

Healthcare-focused arm of a global commercial real estate services giant providing capital markets, leasing, and property management to healthcare clients. Overlaps with Caddis in healthcare tenant relationships and real estate services, though embedded within a much larger diversified platform.

Market position
Strengths3 records

Each record includes

Headline, Details, Source

Weaknesses3 records

Each record includes

Headline, Details, Source

Competitive moat2 records

Each record includes

Type, Details

Key risks4 records

Each record includes

Headline, Details, Source

Key highlights4 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles2 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Caddis

Healthcare Real Estate Developmentcaddis.com

Caddis is a national healthcare-focused real estate firm that develops, manages, and invests in medical properties across the United States. Founded in 2008 and based in Dallas, it serves healthcare clients with an integrated platform spanning development, asset management, and principal investment.

What Caddis does

Caddis is a national real estate development, management, and investment firm focused exclusively on the healthcare sector. Founded in 2008 and headquartered in Dallas, the firm operates with 51-100 employees and serves healthcare clients across the United States, combining three interrelated business lines — development, asset management, and direct investment — under a single platform.

The firm's core activities span the full healthcare real estate value chain, including ground-up development of medical facilities, ongoing property management for healthcare assets, and principal-level investment in healthcare-related real estate opportunities. The legal entity, Caddis Holdings, LP, is structured as a limited partnership, and its investment activities extend beyond operating real estate into financial securities, as evidenced by a minority equity stake held and subsequently divested in Fermi Inc. (FRMI).

Caddis generates revenue through traditional real estate economics — development fees, management fees, and investment returns on owned or co-invested healthcare properties. Specific pricing models, customer segment breakdowns, and revenue figures are not disclosed in the available data. The firm maintains a private ownership structure with no parent company, no public ticker, and no disclosed subsidiaries. Its two founders, Carl Soderstrom and Clay Heighten, continue to lead the organization as founding members.

Caddis firmographics

Firmographics
Name
Caddis
Legal name
Caddis Holdings, LP
Website
https://caddis.com
Company type
Private
Founded year
2008
Operating status
Operating
Headcount range
51–100 employees
Short description
Caddis is a national healthcare-focused real estate firm that develops, manages, and invests in medical properties across the United States. Founded in 2008 and based in Dallas, it serves healthcare clients with an integrated platform spanning development, asset management, and principal investment.
Ownership category
akta.pro rank

Where Caddis is headquartered

Location

Headquarters

HQ city
Dallas
HQ country
United States
HQ region
North America

Markets served

Caddis business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales, Infrastructure

Caddis product offering

Product offering

Core offering

Caddis is a national real estate development, management, and investment firm operating within the healthcare sector. The firm develops, owns, and manages healthcare-related real estate assets and deploys capital into healthcare property investments. Its activities span acquisition, ground-up development, leasing, and ongoing property management for healthcare tenants and providers.

Differentiator

Problem solved

Functional benefit

Products and services

  • Healthcare Real Estate Development Development of healthcare-related real estate assets for healthcare provider organizations and investors, including medical office buildings and related facilities.
  • Healthcare Property Management Ongoing property management services for owned and client healthcare real estate assets, supporting healthcare tenants and operators across a national footprint.
  • Healthcare Real Estate Investment Investment in and long-term ownership of healthcare real estate assets through Caddis Holdings, LP, including acquisition of properties and deployment of capital into healthcare-related securities and assets.

Companies that use Caddis

Customer profile

Ideal customer profiles1 record

Caddis technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Caddis partnerships and signals

Strategic signal

Scale indicators1 record

Recent moves2 records

Expansion highlights1 record

Caddis competitors and assessment

Company assessment

Direct peers

  • Healthcare Realty Trust: Public REIT focused on outpatient medical facilities and healthcare-related real estate. Highly comparable to Caddis given the same healthcare real estate tenant base and similar MOB/outpatient focus, though at a much larger public-market scale.
  • Medical Properties Trust: Public REIT focused on acute care and general acute-care hospitals. Directly comparable to Caddis in healthcare real estate investing, with overlapping development and landlord relationships with hospital operators.
  • Welltower: Large public REIT focused on senior housing, outpatient medical, and post-acute care real estate. Comparable to Caddis in healthcare real estate investment and management across the continuum of care.
  • Ventas: Public REIT with a healthcare-focused portfolio spanning senior housing, medical office, and life science. Comparable to Caddis across the healthcare real estate investment and management functions.
  • NexCore Group: Private national healthcare real estate developer and investment manager. Closest direct private-market peer to Caddis given shared focus on healthcare development, ownership, and management of MOB and outpatient facilities.
  • Hammes Partners: Private healthcare real estate developer and investment manager specializing in MOBs and ambulatory care facilities. Comparable to Caddis in integrated development and investment services for healthcare systems.
  • Anchor Health Properties: Private real estate company focused exclusively on medical office and outpatient healthcare facilities. Comparable niche focus, tenant base, and integrated developer/investor model to Caddis.
  • Pacific Medical Buildings: Private healthcare real estate firm that develops, owns, and manages medical office buildings and outpatient facilities. Closely aligned business model and customer profile to Caddis.

Broad incumbents

  • JLL Healthcare: Major commercial real estate services firm with a dedicated healthcare practice offering leasing, property management, and capital markets services to health systems. Comparable customer base and broad real estate service overlap, though operating at much larger scale across multiple asset types.
  • CBRE Healthcare: Healthcare-focused arm of a global commercial real estate services giant providing capital markets, leasing, and property management to healthcare clients. Overlaps with Caddis in healthcare tenant relationships and real estate services, though embedded within a much larger diversified platform.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat2 records

Key risks4 records

Key highlights4 records

Customer concentration

Caddis social profiles

Digital presence

Caddis financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Caddis leadership team

Management profile

Number of profiles

Profiles2 records

Caddis funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Caddis M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caddis

What does Caddis do?

Caddis is a national real estate development, management, and investment firm operating within the healthcare sector. The firm develops, owns, and manages healthcare-related real estate assets and deploys capital into healthcare property investments. Its activities span acquisition, ground-up development, leasing, and ongoing property management for healthcare tenants and providers.

When was Caddis founded?

Caddis was founded in 2008. It employs 51 to 100 people.

Where is Caddis based?

Caddis is headquartered in Dallas, United States, in the North America region.

Who are Caddis's main competitors?

Direct peers on record are Healthcare Realty Trust, Medical Properties Trust, Welltower, Ventas, NexCore Group, Hammes Partners, Anchor Health Properties and Pacific Medical Buildings. Broad incumbents are JLL Healthcare and CBRE Healthcare.

Does Caddis have an API?

No public API is recorded for Caddis.

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Live signals
CushmanwakefieldCushman & Wakefield to Oversee Leasing at Two Medical Offices Buildings on Behalf of Caddis Healthcare Real EstateCushman & Wakefield has been appointed to manage the leasing of two medical office buildings on behalf of Caddis Healthcare Real Estate. The total area for these buildings is 97,645 square feet, with a key focus on the Atlanta market as a growth opportunity. Caddis has expressed commitment to expanding its presence in Atlanta following successful property acquisitions since 2014.Investing.comCaddis Holdings, LP sells Fermi Inc (FRMI) shares worth $56.3 million By Investing.comCaddis Holdings, LP sold 11,000,000 shares of Fermi Inc. for approximately $56.3 million in two transactions on March 30 and 31, 2026. The sales occurred during a period of significant stock volatility, with shares declining 19% over the past week and 83% over the past year. Despite the weakness, analysts maintain price targets ranging from $20 to $35, well above the current $5.37 price.Courier-PostZoning board acts on plan for senior complex at Holly Ravine Farm in Cherry HillThe Cherry Hill zoning board voted 6-0 to reject a proposal from Caddis Partners LLC for a senior-living complex at Holly Ravine Farm, following public opposition and concerns over traffic safety and infrastructure. Caddis had previously attempted to gain approval by downsizing the project's height and had plans for a complex with 85 independent units, 66 assisted-living units, and 24 memory-care units. The board's decision marks a setback for Caddis, which is exploring options for the development of the last parcel of land from the former dairy farm.Courier-PostDevelopment proposed for one of the last remnants of Cherry Hill's agricultural pastCaddis Partners LLC, a Texas-based developer, has proposed a 175-unit senior living complex on a 23-acre site in Cherry Hill, intended to serve an under-served market. The project is designed to preserve open space and mature trees while also including various amenities for residents, with full occupancy expected to create about 50 jobs. The proposal is currently awaiting consideration by the Cherry Hill zoning board.D MagazineCaddis CEO Is Out. Lance Hardenburg is New Managing Partner.Lance M. Hardenburg has been appointed as Managing Partner at Caddis, taking over from former CEO Jason Signor, who has left the firm for other opportunities. Hardenburg, who joined Caddis in 2017 and most recently served as its Chief Operating Officer, will oversee the company's real estate portfolio and advise management. He expressed confidence in the firm's future and its strategic positioning in the healthcare real estate sector.PR NewswireLeading Healthcare Real Estate Firm Announces New LeadershipDallas-based healthcare real estate investment firm Caddis has appointed Lance M. Hardenburg as Managing Partner, succeeding Jason L. Signor who stepped down to pursue new opportunities. Hardenburg previously served as Chief Operating Officer and joined the firm in 2017 as Executive Vice President and General Counsel after acting as outside general counsel since the company's founding in 2008. The firm, which operates exclusively in the healthcare real estate sector, expressed confidence in its strategic positioning under the new leadership.D MagazineCaddis Healthcare Real Estate Is Thriving on ComplexityCaddis Healthcare Real Estate has successfully expanded in senior housing and healthcare real estate, closing $78 million in acquisitions and developments in January, marking its largest month ever. The company operates numerous projects across multiple states, including a significant focus on medical office buildings and senior housing, and is valued at over $1 billion in healthcare properties. Caddis anticipates ongoing demand driven by the aging population and is looking to raise an additional $200 million for further investments in the sector.Houston ChronicleNew Houston projects keep Caddis a top health-care developerCaddis completed the Heartis Clear Lake senior living community and the Memorial Hermann Health System Convenient Care Center in League City. The company was ranked No. 9 among the nation's top 10 developers of health-care construction projects by Modern Healthcare magazine for the third consecutive year. Caddis focuses on health-care real estate and has been recognized for its contributions in the Houston region.