Friday, March 26 2010
An Arizona-based real estate investment trust says it has completed the purchase of a five building medical office portfolio in Evansville and Newburgh for $45.2 million. Healthcare Trust of America Inc. acquired 260,500 square-feet of space currently leased to Deaconess Clinic Inc. The buildings are located near the Deaconess Hospital campus. Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust, announced the completed purchase of a five building medical office portfolio located in Evansville and Newburgh, Indiana for $45,256,500. The approximately 260,500 square foot portfolio is 100% master-leased to Deaconess Clinic, Inc., an affiliate of Deaconess Health System, Inc. Deaconess Clinic, Inc. is comprised of 110 primary care and specialty physicians. The buildings are positioned in strategic locations and are adjacent to a hospital or clinic campus. The neighboring hospitals include Deaconess Hospital, a 365-bed acute care teaching hospital, and Deaconess Gateway Hospital, a new six story facility with 116 beds. Deaconess Health System, Inc. guarantees the leases on all five buildings, carries an A+ rating from both Standard & Poor's and Fitch and is the largest health system in Southern Indiana. "The Deaconess Portfolio provides us with the opportunity to own core real estate assets essential to the healthcare delivery model in Southern Indiana," stated Mark D. Engstrom, Executive Vice President – Acquisitions. "This portfolio is consistent with the new era of healthcare which involves hospitals and physicians working together in new ways to meet the needs of their communities." "We are impressed with the strength and quality of the Deaconess Health System. The acquisition of the Deaconess portfolio is consistent with our strategy of acquiring high quality and strategically located assets, with high quality tenants," said Scott D. Peters, Chief Executive Officer and President of HTA. "We believe these assets will have a positive accretive impact on our portfolio." For more information on Healthcare Trust of America, Inc. and to download the current prospectus, please visit www.htareit.com. About Healthcare Trust of America, Inc. Healthcare Trust of America, Inc. is a self-managed, publicly registered, non-traded, real estate investment trust. Since September 2009, when HTA completed its transition to self management, it has acquired approximately $492 million in medical office and healthcare-related assets. These assets include a total of 12 acquisitions and one other real estate-related asset, representing approximately 2.3 million square feet. Since its formation in 2006, HTA has made 56 geographically diverse acquisitions valued at approximately $1.54 billion based on purchase price, which includes 187 buildings and two other real estate-related assets. HTA's portfolio totals approximately 7.8 million square feet, and includes 168 medical office buildings, six hospitals, nine skilled nursing and assisted living facilities and four other office buildings located in 21 states. Source: Healthcare Trust of America Inc. |