RXR Closes $90M Land Sale at Veridea to NC Children's Hospital in Apex Real Estate Deal

RXR has completed a nearly $90 million land sale in Apex, North Carolina, transferring more than 200 acres within its Veridea mixed-use development to North Carolina Children's Hospital — a joint venture between UNC Health and Duke Health — for the development of the state's first freestanding children's hospital.

The deal was announced April 2, 2026.

Hospital Campus: What Will Be Built

The NC Children's campus planned for the Veridea site will include a 500-bed children's hospital, a children's outpatient care center, a 70-bed behavioral health hospital, and a research and education enterprise backed by both the UNC School of Medicine and the Duke School of Medicine. Once complete, the campus is projected to bring approximately 8,000 jobs to Apex and Wake County, according to RXR.

No cap rate or financing details were disclosed.

Veridea: A 1,100-Acre Mixed-Use Development

The NC Children's parcel represents a portion of Veridea, RXR's 1,100-plus-acre mixed-use development in Apex. Beyond the hospital campus, Veridea's master plan calls for thousands of residential homes, new retail, dining, office space, and a new Wake Tech Community College campus.

Scott Rechler, Chairman and CEO of RXR, commented on the transaction: "We're proud to partner with NC Children's Hospital to build a new children's hospital, along with research and education facilities backed by the UNC and Duke Schools of Medicine. This investment will bring thousands of new jobs to Apex and Wake County. Alongside Wake Tech, our residential development, and the broader business ecosystem, we are creating a dynamic, mixed-use environment that attracts talent, drives innovation, and supports sustained economic growth. This partnership accelerates Veridea's evolution into a fully integrated community that delivers for residents, employers, students, families, and the broader community."