SCOTTSDALE, AZ – Healthcare Trust of America, a non-traded, real estate investment trust, has acquired a five-building, five-state portfolio of medical office properties for more than $84 million.
The purchase price for the portfolio was approximately $84.2, according to Mark D. Engstrom, executive vice president of acquisitions for HTA. The Scottsdale, Ariz.-based REIT had previously acquired four medical buildings from the owner and developer of the properties, Rendina Companies.
The current deal’s portfolio is comprised of Class A on-campus medical buildings in Florida, Arizona, New York, Nevada and Missouri.
"This portfolio typifies our 2010 acquisitions as it has significant size, geographic diversification in strong markets, stabilized occupancy and minimal near-term lease expiration exposure," said Engstrom.
Since Jan. 1, 2010, HTA has acquired approximately $715 million in medical office and healthcare-related assets.
"We have positioned HTA such that we work very well with all types of medical office owners and are both creative and flexible in our approach to structuring transactions,” Engstrom said.
In addition to the current deal, Engstrom noted that the company has executed purchase and sale agreements on additional healthcare-related assets totaling approximately $106 million and approximately 490,000 million square feet.
HTA's total portfolio includes 203 medical office buildings, 10 hospitals, nine skilled nursing and assisted living facilities and five other office buildings located in 24 states.
