Healthcare Trust of America closes $156 million of acquisitions in fourth quarter 2013

NewsGuard 100/100 Score

Healthcare Trust of America, Inc. (NYSE: HTA) announced today that it had closed approximately $156 million of acquisitions in the fourth quarter of 2013. The fourth quarter acquisitions were highlighted by the agreement to acquire an eight medical office building (MOB) portfolio from a regional developer in Florida for $141 million, $127 million of which closed in December (the "Florida Portfolio"). The remaining fourth quarter acquisitions consist of the previously announced $29 million investments in two on-campus MOBs in Austin, Texas.

The Florida Portfolio totals over 414,000 square feet and was 98% occupied at closing. The MOBs are predominately located on health system campuses affiliated with HCA, Community Health Systems, and Jupiter Health System. Approximately 90% of the properties are located in Florida, principally in the markets of Tampa Bay and Jupiter, with one property in Indiana. Seven of the eight MOBs being acquired closed in December with the remaining property expected to close in the first quarter of 2014.

The Florida Portfolio is anchored by the Largo Medical Center MOB, a 151,000 square foot, Class-A MOB located in the Tampa submarket of Largo. It is located on HCA's Largo Medical Center campus and is anchored by the Diagnostic Clinic, an independent, multi-specialty clinic that was acquired by Blue Cross Blue Shield of Florida in 2012.

For the year, HTA closed on $398 million of investments. In total, HTA acquired 22 MOBs totaling almost 1.5 million square feet of gross leasable area (GLA). This represents a total portfolio expansion of over 15%, based on investment, for the year. Approximately 80% of the investments were made in the key states of Florida and Texas which demonstrate good fundamentals for long term healthcare demand. At year end, HTA had a total portfolio consisting of over 14.1 million square feet of GLA and $3.0 billion of investments. Additional details for these acquisitions can be found in HTA's portfolio overview found on its website (www.htareit.com).

Source:

Healthcare Trust of America, Inc.

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
Emerging trends in wearable breath sensors aim at personalized healthcare solutions