# Sila Realty Trust Sila Realty Trust is an Asset Manager based in Tampa, United States. ## Overview - **Organization type:** Asset Manager - **Headquarters:** Tampa, United States - **Region:** North America - **Address:** Tampa, FL, United States - **Founded:** 2014 - **Assets under management:** $2.0B — $3.0B (Altss estimate) - **Website:** silarealtytrust.com - **LinkedIn:** https://www.linkedin.com/company/sila-realty-trust ## Regulatory record - **Reports private funds:** No ## About Sila Realty Trust was formed in 2014 as Carter Validus Mission Critical REIT, part of a wave of non-traded real estate investment trusts that raised capital from retail investors for direct property ownership. Michael Seton has led the firm — and its predecessor entities — since inception, steering it through a 2020 name change to Sila Realty Trust and a subsequent listing on the New York Stock Exchange under the ticker SILA in April 2024. The firm traces its operational roots to the acquisition and management of healthcare facilities, a strategy that has remained its exclusive focus. The trust invests solely in healthcare real estate, owning a portfolio concentrated in medical office buildings, inpatient rehabilitation facilities, and surgical hospitals. Confirmed property types in the portfolio include buildings leased to Encompass Health, Baylor Scott & White, and HCA Healthcare. Sila structures its investments as direct property acquisitions, typically under long-term, triple-net leases, which shift operating expenses and capital expenditures to the tenant. Geographically, the portfolio spans the Sun Belt and Midwest, with concentrations in Texas, Florida, and Ohio. The firm's strategy explicitly avoids senior housing, skilled nursing facilities, and other operator-dependent asset classes. Sila listed on the NYSE in April 2024, ending its life as a non-traded REIT, an event that allowed existing shareholders to begin trading their shares on an exchange while the company continued to own and manage its real estate assets. At the time of listing, the portfolio comprised over 130 properties valued at approximately $2.2 billion. The firm maintains its headquarters in Tampa, Florida. The leadership team beyond Seton includes Kay Neely as Chief Financial Officer, a role she assumed in 2022 after serving as the company's controller. The trust's structural differentiator is its end-to-end life cycle as a publicly registered, non-traded REIT that successfully converted to a listed company — a path many non-traded REITs attempt but few execute without significant shareholder dilution or a distressed merger. Sila completed the listing with its portfolio and management team intact. The firm operates with a perpetual capital base and no defined exit timeline, distinguishing it from closed-end private equity real estate funds that must liquidate assets to return capital to limited partners. ## Sectors - Real Estate - Healthcare Services ## People - Michael A. Seton — President and Chief Executive Officer ## Questions ### Who runs investment decisions at Sila Realty Trust? Michael A. Seton leads the firm as President and CEO and has done so since its founding in 2014. Kay Neely, appointed CFO in 2022, oversees the financial architecture. The trust's board of directors includes independent members who must approve major acquisitions and dispositions, a governance structure common to publicly traded REITs. ### Is Sila Realty Trust still a non-traded REIT? No. Sila listed its shares on the New York Stock Exchange under the ticker SILA in April 2024. Prior to the listing, the firm operated as a non-traded REIT for nearly a decade, raising capital through broker-dealer networks. The listing provided liquidity for existing shareholders and made the stock available to a broader set of institutional and retail investors. ### What property types does Sila Realty Trust own? The portfolio consists primarily of medical office buildings, inpatient rehabilitation facilities, and surgical hospitals. Confirmed tenants include Encompass Health, Baylor Scott & White, and HCA Healthcare. Sila explicitly avoids senior housing, skilled nursing, and other operating-company-dependent healthcare real estate, preferring properties where the tenant is a creditworthy healthcare system under a triple-net lease. ### How does Sila Realty Trust source acquisitions? Sila acquires properties directly from healthcare systems, developers, and existing owners, often through sale-leaseback transactions where a hospital operator sells a facility and signs a long-term lease. The firm's publicly traded status and full equity-funded balance sheet can provide speed advantages over buyers relying on debt financing, a dynamic it has used to compete with private equity and other REITs for healthcare properties. ### Where are Sila Realty Trust's properties located? The portfolio is concentrated in the Sun Belt and Midwest, with significant clusters in Texas, Florida, and Ohio. This geographic footprint reflects a preference for markets with strong population growth and high demand for healthcare services, rather than a national scatter of facilities. ### Does Sila Realty Trust invest in anything other than healthcare real estate? No. Since its founding, the firm has invested exclusively in healthcare real estate. It does not invest in office, retail, industrial, or residential properties outside the healthcare sector. This singular focus is its stated strategy and a key part of its identity as a publicly traded REIT. ## Related profiles - [Capricor Therapeutics](https://altss.com/profile/capricor-therapeutics-inc) - [Generate Biomedicines](https://altss.com/profile/generate-biomedicines-inc) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/sila-realty-trust-inc Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology