HTA acquires medical office building in Sugar Land, Texas for $12.4M

Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust, announced the completed acquisition of a medical office building located in Sugar Land, Texas for approximately $12,400,000.

Sugar Land Medical Building II is an approximately 60,300 square foot facility located within one mile of three prominent acute-care hospitals: Methodist Sugar Land Hospital, St. Luke's Hospital, and Sugar Land Medical Center, a Hospital Corporation of America affiliated hospital.  The three story building is 100% leased with 83% of the space leased by Texas Children's Hospital through 2019. Texas Children's Hospital carries an AA rating from both Standard & Poor's and Fitch and is one of the largest pediatric hospitals in the U.S.

"This acquisition expands our Texas healthcare portfolio to approximately 965,000 square feet with an investment of approximately $275 million," stated Mark D. Engstrom, Executive Vice President of Acquisitions for HTA.  "This acquisition contributes to Healthcare Trust of America's national portfolio of approximately 7.9 million square feet which is thirty-three percent leased by healthcare systems that have a credit rating that is A- or better."

In 2010, HTA has acquired approximately $88 million in medical office assets.  These assets include a total of 4 acquisitions, representing approximately 454,000 square feet.

SOURCE Healthcare Trust of America, Inc.