HTA acquires GHS medical office building portfolio

Sep 22 2009

Healthcare Trust of America, Inc., (the "REIT"), a self-managed non-traded real estate investment trust, announced the completed acquisition of a 16-building portfolio from Greenville Hospital System ("GHS") based in Greenville, South Carolina for approximately $162,820,000 on September 18, 2009.

GHS is the dominant provider of healthcare services in South Carolina with approximately 70% of the market share in the largest Metropolitan Statistical Area in South Carolina. Approximately 92% of the portfolio's square footage is located on or adjacent to one of four hospital campuses, and GHS will continue to occupy approximately 84% of the portfolio under a long-term lease arrangement. GHS holds an "AA" credit rating from Fitch Ratings, a leading global rating agency.

"We are proud to have acquired these first class assets from a high quality healthcare system," said Scott D. Peters, chief executive officer and president of the REIT. "This strategic relationship will allow us the opportunity to develop and/or acquire additional medical buildings as Greenville expands its first class health system."

"This is a great accomplishment for HTA. For a transaction of this size and quality to be completed under our self-management structure is very gratifying," stated Mark D. Engstrom, Executive Vice President - Acquisitions.

This acquisition is consistent with the REIT's investment strategy, which is to purchase quality properties that generate stable long-term growth in operating cash flow to pay regular cash distributions.