Edited: Jennifer Brenner
Source: Healthcare Trust of America
Healthcare Trust of America, Inc., ("HTA"), a self-managed non-traded, real estate investment trust, announced the completed acquisition of a 17 property, 641,000 SF medical office portfolio located in Sun City and Sun City West, Arizona for approximately $107,000,000.
The medical office portfolio is currently 92% leased and is located in the retirement communities of Sun City and Sun City West in the northwest Phoenix metropolitan area. These properties were developed in connection with the Banner Boswell and Banner Del E. Webb hospitals. These hospitals support over 800 licensed acute care beds. Approximately 95% of the portfolio is located on the hospital campuses and approximately 28% of the portfolio is leased by Banner Health and its affiliates.
"These assets provide stability and growth potential. This transaction represents another key step in our acquisition of large, high-quality medical office portfolios associated with high-quality healthcare providers. We were able to secure this unique opportunity because of our strong balance sheet, and the willingness of the parties to structure a transaction which made sense based on the marketplace today," said Scott D. Peters, CEO and president of HTA. "We look forward to working with these hospitals and the excellent healthcare providers in this market."
During the fourth quarter of 2009, HTA has acquired approximately $253 million in assets. These assets include a total of 25 individual properties and one real estate-related asset, representing approximately 1.2 million square feet.
Since January 2009, HTA has acquired approximately $494 million in assets. These assets include a total of 50 individual properties and one real estate-related asset, representing approximately 2.3 million square feet.
