Healthcare Trust of America Acquires Medical Office Buildings in Major States

October 28, 2010 / Elizabeth Buckley, Commercial Property Analyst

A non-traded, self-managed, and real estate investment trusts—Healthcare Trust of America, Inc (HTA) announced its acquirement of nine medical office buildings. The properties are located in Massachusetts, Florida, and Nee York and are worth about $196,645,000.The medical office buildings are 98 percent leased and are considered as Class A medical offices.

Healthcare Trust of America Acquires Medical Office Buildings in Major States

The properties consists both off and on-campus medical office buildings and has an area of just about 960,000 square feet with a subjective average lasting lease period of seven years.

The medical office buildings includes both multi-tenant and single-tenant properties which are situated in North Adams, Massachusetts, in Temple Terrace, Florida, and in Albany, New York.

Executive Vice President of Acquisitions for Healthcare Trust of America Mark D. Engstrom said that the deal maintain the company’s corporate desire to acquire prime value medical office buildings with considerable occupancy and trusty tenants in terms of credits, especially if the properties are situated in places with leading healthcare system.

Healthcare Trust of America’s newly acquired portfolio consists of major tenants including Health Quest, Berkshire Health Systems, US Oncology, Community Care Physicians, Catholic Health East, and LabCorp of America.

Engstrom also said that his company is working hard to establish strong associations with the health care industry, and with that kind of relation, Healthcare Trust has been capable of identifying and acting on opportunities to attain high-standards portfolio of medical office buildings.

HTA has acquired around $344.5 million in medical office buildings and other healthcare-related properties since January 1, 2010. These medical office buildings involves about 1 million square-feet of total rentable area, which is already 98 percent leased.

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